I am always heartbroken when I see someone who is poor and disabled give their money to debt collectors for no reason.
Please learn your rights and learn your options. Here are a few options you might not know about:
🌻 Option One: Disability Discharges
Some private lenders offer options for disability discharges. This sounds great, and in some cases it is great. But in other cases these discharges actually wind up causing tax problems, and can make things worse. Learn more about how to escape tax problems.
🌻 Option Two: Run Down the Clock
Private loans are private debt. If you are on Social Security, they cannot take your Social Security money, unless you decide to give it to them. It is up to you if you decide to give it to them.
Even if they take you to court, they still can’t get ANY of your Social Security money. There is literally nothing they can do, except try to scare you into giving them your money. Please see link below on how to protect your Social Security check.
If you are not on Social Security, or you have other kinds of money or assets, they may or may not be able to take this money, depending on how much money you have and the laws in your state.
If enough time passes, the debt will expire. If the loan is from a long time ago, it may already be expired. They will still call you and pretend you owe them money. If you talk to them and acknowledge the debt on the phone, they can record you and this can make the debt come back. If you pay them any amount of money, even $1, this can make the debt come back.
🌻 Learn more:
This information on this page is for private student loans. If your loans are federal, look here: