Don't Make It Easy

E got served with a summons on student loan debt. Her boyfriend is offering her half of the amount to settle with them. He wants to see her get out of debt. How does she settle it?

QUESTION: E in Las Vegas got served with a summons on student loan debt. She’s back to work after being unemployed, and her boyfriend is offering her half of the amount to settle with them. He wants to see her get out of debt. How does she settle it?

ANSWER: Make sure you have a real clear understanding with your boyfriend because I don’t want to change your relationship with him.

You don’t have any pay stubs because you don’t have a job. Your hardship letter is easy to write. Show them how broke you are, in other words. That’s all they want to know. They want to know that you’re really broke. We don’t give them any other information. They can’t have the bank statement. Give them a hardship letter and your part-time job pay stubs and last year’s tax return. If that doesn’t make them cry, then they don’t have a heart. The rest of it, jump in the creek or take the money or don’t take the money. They’ve got to decide. Don’t give them a copy of a bank statement. Your bank statement doesn’t have anything in it. Be a little bit smart aleck with them. There’s no legal thing going on here. All they’re trying to do is make this hard on you. Plus, they’re also trying to find out if there’s someplace they can go to scarf the money after they sue you. We’re not going to make it easy for them to find you. I’m not trying to set them up to steal money from you after a lawsuit. Don’t make it easy on them, but be willing to tell the story since you have a good story.

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