If I have a 4 year old student loan and have not been able to find work in my chosen profession, is there any recourse to repaying the loan?
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If I have a 4 year old student loan and have not been able to find work in my chosen profession, is there any recourse to repaying the loan?
Over 4 years ago I went to technical school to become a medical biller. I graduated at the top of my class 11 months later. However, I have been looking for work in medical billing for the past 3 1/2 years without luck. The loan is through Sallie Mae.
Asked on February 19, 2012 under Bankruptcy Law, Minnesota
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Bottom line is that you owe on the loan that paid for your technical school. The problem is that you have no gainful employment to help in paying down the loan. I suggest that you contact the lender about the situation that you find yourself in and try and work out some future payment plan with respect to it.
From a practical point of view, creditors appreciate when a debtor contacts them with the intent to try and work out the situation with a payment plan.
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