Submitted by Paula McKibbin (not verified) on May 7, 2009 - 2:03pm.
I am a single parent of three teens - divorced - and living in Fresno, California. I had student loans when I went to law school UOP McGeorge in Sacramento, California in 1987-1991. I was told by the financial aid person there that I would have payments like car-payments for about ten years when I graduated. Here I am in 2009 and in a horrible situation. The federal student loans, without notice, started attaching my wages - about $500 every two weeks. Then I couldn't get a decent mortgage on my house because of the divorce and then the student loans. I had an interest-only loan - high rate - and made my payments faithfully. They said if I did so for two years that they would work with me and offer me a fixed rate. That never happened. Now my equity in the home is about $60,000 or more less than what I owe on the interest-only mortgage. I have to leave the home, because the monthly payments are about 1-1/2 X what I'd pay for rent for the same place. I have no credit cards and live like a pauper. I had been in a very bad domestic violence situation and had a lot of problems for several years just trying to get work, etc. It was very difficult. I've come a long way, but I need to get rid of this debt. I had filed bankruptcy when I was with my ex-husband, because he had previous debt. The attorney had said that it might help with the student loans, and we included them - over seven years ago. I really need help now, because I will walk away from the home and now have my wages attached and no income.
Please contact me if you know anyone who can help. My children are upset because of the financial stress. How can I help them with their college education? I have almost no retirement, and I'm 53. I've tried to work with the mortgage lenders and with the student loan people for the past few years. My work doesn't have any loan forgiveness program, as they had promised they were going to offer over two years ago when I started at the public defender's office in Fresno.
student loans
I am a single parent of three teens - divorced - and living in Fresno, California. I had student loans when I went to law school UOP McGeorge in Sacramento, California in 1987-1991. I was told by the financial aid person there that I would have payments like car-payments for about ten years when I graduated. Here I am in 2009 and in a horrible situation. The federal student loans, without notice, started attaching my wages - about $500 every two weeks. Then I couldn't get a decent mortgage on my house because of the divorce and then the student loans. I had an interest-only loan - high rate - and made my payments faithfully. They said if I did so for two years that they would work with me and offer me a fixed rate. That never happened. Now my equity in the home is about $60,000 or more less than what I owe on the interest-only mortgage. I have to leave the home, because the monthly payments are about 1-1/2 X what I'd pay for rent for the same place. I have no credit cards and live like a pauper. I had been in a very bad domestic violence situation and had a lot of problems for several years just trying to get work, etc. It was very difficult. I've come a long way, but I need to get rid of this debt. I had filed bankruptcy when I was with my ex-husband, because he had previous debt. The attorney had said that it might help with the student loans, and we included them - over seven years ago. I really need help now, because I will walk away from the home and now have my wages attached and no income.
Please contact me if you know anyone who can help. My children are upset because of the financial stress. How can I help them with their college education? I have almost no retirement, and I'm 53. I've tried to work with the mortgage lenders and with the student loan people for the past few years. My work doesn't have any loan forgiveness program, as they had promised they were going to offer over two years ago when I started at the public defender's office in Fresno.
Paula McKibbin
559-761-5944
mckibbinpaula@yahoo.com