If we apply the same thought
process like we did with the savings
account question, multiply that amount by a couple
of years and the foregone growth and it quickly become a matter
of hundreds
of thousands of dollars if not millions!
I myself have about $ 48,000 in student loan debt, and about $ 30,000 in collection fees, my loans was the Alaska state student loans, I get harassing calls all the time, I have my Alaska PFD garnished, they took away my state pharmacy tech license so I could not work, they said if I brought my
account up to par (several
thousand dollars paid asap) I could get it re-instated with requests and appeals, they send me letters saying they are going to garnish my wages, seize bank
accounts, and basically put me on the street, one
of the representatives on the phone told me after I asked her what people do when they cant afford a $ 1500 monthly payment or more, she said «you need to get 2 - 3 jobs then now don't you» my credit is ruined, if I get a job I face garnishments and bank
account seizures, I also have been in the
process of filing for disability due to my medical issues, and just simply cant pay the debt, what can I do?
Both sides go through the
process of «discovery,» spending weeks or months and
thousands of dollars to collect everyday documents such as tax returns, pay slips, and bank
account records which could be easily found and shared within hours, for free, if it were not part
of a legal «discovery»
process.