Do You Help Me Answer Some Question About Bc Student Lo
Q: I have $12,100 student loans, and $2800 credit card debt. I have been unable, due to unemployment, to make payments for 4/5 months. I am living with my parents right now. I already used up my interest-free status; but please, do not lecture me, I'm unhappy about my choices as well; I just need some help right now.) The student loans are divided: 1.) $1300 British Columbia Provincial Loans sent to collections (US and other nationalities READ ON, your advice is MUCH appreciated,) 2.) $4300 kept by Royal Bank for **ONLY** one or two more days (all they guaranteed), 3.) About $6500 sent back to the canadian government. I need a reasonable proposal, that the banks will accept, and that will let me put my life back on track. I've always helped my mom (here-and-there), with her small startup business, albeit never as a regular employee, and never paid for it. She now insists, that for us to succeed, she wants to help my situation from worsening. The deal is I get a (part)time job as fast as possible, and then start helping myself. She is tight, and wants the cheapest solution. The CCSBC(Credit Counseling Society of BC) sounds rather reluctant to talk to me. Their response: if you are unemployed, and the collectors are harassing you, write a letter, and demand phone calls to your parents' home to stop. It's your legal right. This is fine, but I really do want to find a solution, if possible. I have always told them that I want to pay them back anyways. I think we can handle the BC Provincial loan ($1300.) These groups already give me an idea on credit card negotiations: reduce interest from 17% to 9% (or even 5%), stop late charges, start regular payments. Does this make sense? Is $50 payments on $2800 credit card debt acceptable, or laughable? Ideas Please. Do I call the bank, or the collectors? Thanks! This leaves the federal student loans: $4300 with the bank, and $6500
A: Do you have credit counselors there- the kind that consolidate all of your debt, contact the creditors and negotiate the payback rate for you, you just make one payment to them and they disburse? IIRC there arecaveats that you can't incur more debt and have to give up all CC's. You being in BC, I don't know much what there is offered or what consequences for delinquent credit are. .