I'm Being Sued For A Defaulted Student Loan And I'm ScaredI finished law school in 2010 and didn't pass the bar exam...twice. While studing for the bar I was in such turmoil (mental and emotional) that I decided the only way to keep myself from jumping off of a bridge was to ignore the constant collection calls from my various lenders. I owe about $200,000 in student loans. There must have been 10 different lenders involved.
Fast forward to 2012 I took a break from the bar and decided to take a job as a paralegal at a small firm where I make pennies! But I didn't mind because I got to take a break from studying and figured that with my income I could now at least make payments (minimum of course!) towards my loans. in fact I learned that I could consolidate most of my loans and was granted income-ba
Then in March 2012 I received a summons from one lender who I owe $30,000. They are suing me for the entire amount. I tried to speak with them directly to set up a payment plan but they were not interested in hearing from me. I guess I can't blame them since I kept them in the dark about my situation for the past two years. Its a wonder than I'm not being sued by all my other lenders. But I digress.
Now I'm scared and I'm lost. I feel like such a failure. I'm being sued by a lender who is threatening to garnish the little bit of wages I earn. I'm not contesting that I owe the money I just want to enter into a reasonable payment plan. They want me to pay $800 per month! I don't have that money! I have to answer to the summons 20 days after service. My last day to hand it in is in a few days. I intend to submit an answer but I'm scared because I don't know what to expect. Has anyone out there gone through this? If so I would greatly appreciate to hear your story.
This whole debt collections thing is getting to me and I can't help but to feel that if I wasn't so stupid to fail the bar twice I wouldn't be in this predicament. To top it all off I've been toying with the idea of not practicing law at all because I can't stand the litigating and the adversarial nature of this profession so I don't even know if I want to take the damn bar again. but then what will people say?????? I feel like I'm such a let down and waste of space sometimes and that everyone hates me because I'm lazy and stupid. **** I hate myself for it! I even cried this morning about it.