Expert: Apex Credit Services, LLC - 11/20/2008

Question
I have a collections company attempting to collect on a Federal Perkins Loan.  I have no problem paying them for the loan, but they are asking for an amount that I cannot afford each month and will not budge, telling me I am the one being unreasonable.

A relative-- no expert herself-- is telling me to send them what I can and ignore their threats that I pay them what they want or they're going to take me to court.

I've told the woman in charge of my loan that she's asking too much, I have to be able to survive, but she won't listen.  What should I do? My first payment is due, and I don't even have half of it.

Thank you, in advance, for any advice you may be able to give,
Robyn

Answer
Robyn:

The relative's advice is misplaced.  Federal loan holders can directly garnish your wages and levy your accounts without even first obtaining a judgment.

I wouldn't waste "whatever you can afford" because they may sue you anyway.  I am sorry that I cannot be of more assistance but, they do not have to take you up on what you can afford to pay them.

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