Just Took a Forbearance - Payday Loans - Cash Advance - Auto Loans

Calypso · #1 (**permalink**) 03-29-2007, 10:07 AM

Due to surgery, I've had to be off work for six weeks with VERY little money coming in. When I finally looked over my accounts last night, I realized that I would not have enough money to pay my student loans for the next few months. So, I signed up for a 4-month forbearance online. All I had to do was state that, due to financial hardship, I would be unable to make payments for the next four months (though I will pay the interest). They even let me sign electronically. It was easy as pie, and such a wonderful program for people who temporarily get into a financial crunch!

randomthoughts1875 · #2 (**permalink**) 03-29-2007, 10:42 PM

Who knew! Thank you for sharing such valuable information! I've noticed many places will allow you this option...credit cards etc. It's unfortunate that more people aren't aware of his option. I hope your recovery goes well!

nangel78 · #3 (**permalink**) 03-30-2007, 01:15 AM

I hope you get better Calypso. I completely understand on the forbearance. I had to do that when I lost my job a couple of years ago.

Calypso · #4 (**permalink**) 03-31-2007, 05:56 PM

Thanks, everyone, for your support. I'll be back at my day job soon, and then the money will be rolling in again. My writing has provided me enough to pay the rent and keep the cats and me in food, but as far as any further expenditures go, forget it!

Actually, these few weeks have been a valuable trial for me, because I was thinking about trying to go freelance full time, and now I see that I simply wouldn't make enough money. Oh, well. At least I like my dayjob.

SageMother · #5 (**permalink**) 03-31-2007, 06:57 PM

This is why you should never refinance a student loan. Many times doing so removes the benefits of forebearance.

moonmagick · #6 (**permalink**) 04-01-2007, 04:46 PM

Thanks for sharing that information. That is good to know that you have that option should the need arise. I knew I would learn some valuable info here.

Melizzy · #7 (**permalink**) 04-01-2007, 06:09 PM

I think they finally learned due to a high default rate, that working with people is better than losing the entire loan.

nangel78 · #8 (**permalink**) 04-02-2007, 02:34 AM

What kind of writing do you do Calypso? I have been wanting to break into freelance writing more. I am glad to hear you will be back at your day job soon!

SageMother · #9 (**permalink**) 04-19-2007, 01:28 AM

This is an example of how it pays to have multiple income options. Therea re so many people who will turn their noses up at income opportunities because they don't pay them enough to live on in one fell swoop.

Those smaller bits of money will add up overtime, and be the saving grace during leaner times at your day job.

Melizzy · #10 (**permalink**) 04-19-2007, 11:46 PM

Quote:

Originally Posted by SageMother

This is an example of how it pays to have multiple income options. Therea re so many people who will turn their noses up at income opportunities because they don't pay them enough to live on in one fell swoop.

Those smaller bits of money will add up overtime, and be the saving grace during leaner times at your day job.

I completely agree Sage. The amounts I've been making online have added up and paid a few bills and allowed me to go on Ebay, etc with no real hardship.