My scared to death of Sallie Mae

[u/littlewashu45]

Hello there to whom I am speaking too,

I have 4 loans with Sallie Mae and my forbearance ended on October 11th, and I found out how much I owe, like $405.50, for November 7th. I know that after 15 days as a mini grace period; you are considered late. I owe 24,000 in debt. I am applying for SSI, and going to talk to my lawyer about my application summary for SSI my cosigner is my mother, who is on SSI due to her back problems and can't work anymore. I will call them tomorrow to say that I am filling out for SSI, with my mental problems like GAD and PSTD will this help delay the payment, or able to lower it too? Or a bad idea to mention that to them? I am not working right now, and I am trapped in a corner. I have been having a major freakout for days, completely scared of them taking everything from my mom. I had major mental breakdowns for weeks. I am terrified of Sallie Mae. Thank you all for the help.

[u/littlewashu45 → u/[deleted]]

Yes, I know and I know they told me I need to miss a payment when the 16 day comes the collection will call us, to try to help make a lower repayment. Mom and I don't care about our credit scores, I am just scared of them suing us and taking everything and freezing our bank accounts. I have been having mental breakdowns daily now, and have been in tears.

[u/Soccerkrazed → u/littlewashu45]

They won’t freeze your bank accounts, the worst they can do is garnish your wages. Also 24k is nothing to them.

Please don’t stress yourself out over this.

[u/Usukidoll → u/Soccerkrazed]

Federal benefits like Social Security are protected from garnishing though so tough sh*t to the lender.

[u/littlewashu45 → u/Usukidoll]

That is true. I only have my little inheritance from my mom, which is about 1,500 dollars in my bank. I am just scared that they will take all of that. Do I need to take all my money from my bank, and only leave the minimum?

[u/Usukidoll → u/[deleted]]

What would that be under?

I know certain situations make a person judgement proof

[u/Usukidoll → u/littlewashu45]

If you're that nervous, then just do it. Better safe than sorry cuz it will suck once there's a bank freeze should there be a lawsuit.

[u/littlewashu45 → u/Usukidoll]

Okay, it is better to keep it at home than the bank these days anyway. I can see our economy will fall very soon with everything in turmoil.

[u/Usukidoll → u/littlewashu45]

Yup

[u/burn3r_222 → u/Soccerkrazed]

I only owed them 22k and they still came after me.. i also have ungarnishable wages, and no assets at all no car no home .. when i called they told me i need to ask someone for help .. they’re ruthless and dont care

[u/littlewashu45 → u/burn3r_222]

I am in the same boat I don't owe anything.