Originally Posted by
flyman304
I am 26 and I have a 90k Key Alternative Loan from Key Bank. The loan is in default. Last year my W-2 was 24,000. I have been also paying for some high balances on my credit card. I would have had to take 125k out but I paid for the last half of my school with my own money via credit cards. I have been reading a lot of the forums and I see a lot referring to Key loans not being federally backed and eligible for bankruptcy. I have liquidated all of my assets. I don't have a penny to my name and a baby on the way. Does anyone know how to bankrupt these loans?
Wow man, I'm sorry. Sounds like you're in a bit of a pickle at the moment. I don't have an answer for your question. But, good news is you're relatively young and you will get through this. It may take years; but don't give up.
I've got a ton of student loan debt as well. Still paying on undergrad, grad, and flight school. It burns through at least 50% of my take-home every month. Certainly tough to get ahead like this. I'm always looking for good options on refinancing.....not looking to BK my debt, after all, it's mine and I have a responsibility to pay it back....but it sure would be good to get a refinance deal. Ugh.