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The W - Random - Student loan debt when living abroad
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Since: 2.1.02

Since last post: 1048 days
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#1 Posted on | Instant Rating: 6.58
Gonna go stealth for this, for whatever reason.

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I have a ton of student loan debt. I just finished a masters degree in May; I owe a little bit in private loans that I'm already paying interest on and quite a bit more in federal loans that will go into repayment in late November or early December, I haven't calculated the exact date. I have enough money in my bank account to make my payments for several months, but if my residency isn't approved within a few months or I can't find a job right away, I'm likely not going to be able to afford to make my payments for at least a little while. What I'm wondering is, what means of collection would the government and/or my private loan providers have when I'm living abroad and have no assets in the US?

I don't plan on not paying, and I don't expect these loans to go to a collection agency; it's possible, though unlikely, that we'll end up living back in the US for at least a couple of years, and I'd like to do as little damage to my credit as possible. I'm just asking because I want to know what kind of leverage I have if and when I have to explain to my creditors that I can't make payments for a little while. If they would just be screwed were I to decide not to pay, then that would likely give me a bit of an advantage in trying to negotiate some kind of leniency regarding the situation.

Also, what's the deal with credit scores between countries? My credit in the US is middling, probably a little below average but for the aforementioned reasons likely to take a bit of a hit in the near future. I've read in some stuff I found via Google that creditors in Europe are not necessarily going to access or make judgments based on US credit agency reports, and in some cases you might just have a clean slate. I'm unconvinced though, it seems too easy to be true; does anyone have any relevant experiences that can shed some sort of insight?

(edited by TheBucsFan on 7.7.13 1853)
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Since: 5.9.08

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#2 Posted on | Instant Rating: 1.12
Its impossible. I am a co-signer for a friend in Japan and there is no way for him to pay it. Paypal doesn't recognize his bank and nor does Sallie Mae. Sallie Mae only takes check payments which is not an option and online. Unfortunately, their online only takes bank which does not recognize his bank. Right now, I am making forbearance payments while he western unions the money to me. My suggestion is to find throw it on a credit card or open a bank in America. Good luck, Sallie Mae's customer service is God awful and mostly full of people who can't speak a lick of English nor how to use their own system. The collections people are actually really cool and understanding plus they won't charge you extra for using a credit card for payment.

The Wee Baby Sheamus.Twitter: @realjoecarfley its a bit more toned down there. A bit.
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