Thursday, November 18, 2010

Exercising My Right Not To Forbear

I hate to restate the obvious, but I have been receiving like 15 calls a day from Sallie Mae and Access Group regarding the 2 loans my husband and I had to stop paying because the payment increased to an amount we could not afford to pay detailed here.  Now, this doesn't annoy us because we never answer our home phone anyway and with our cell phones and Google Voice, who needs a house phone anymore?  Heck, I would disconnect the home phone except that I need it in order for our doorbell to work and for the internet.  Anyway, sometimes I answer the phone just for the fun of it, with my new "I can't pay you" mentality and fun, but well-informed attitude to match.  The representative from the start is determined to get me to put this loan on forbearance, so we can get caught up or apply for the Income Based Repayment plan.  I tell, her, "no, I don't want to forbear the loan because you all will capitalize the interest and I'll end up owing more and I still won't be able to pay."  She says, "well, placing the loan in forbearance will allow you to not pay and hopefully things will turn around."  I ask her, "how much is that payment a month?" She says, its $800 something something" (soon as she said eight, I tuned her out).  I tell her, "that payment went from $200 something to $800 something, the only way something is going to turn around is if you turn around that payment back to $200 - can you do that?"  Surprisingly, she say no.  Really?  I mean really?  You can't make the payment $200 again?  I'm shocked and appalled. 

Anyway, she keeps pressing us to forbear the loan and I'm almost laughing hysterically because there is no way she is going to get me to forbear this loan.  Forbearing to not make payments and not making payments because you can't afford it is the same thing to me at this stage - so why delay the inevitable?  Plus, the interest is only being accrued at this point, not capitalized.  But hey, I'm enjoying the banter back and forth for some strange reason.  Then I ask her, "how much is passed due on this loan", she says, "two thousand something something" (again, I tune out after two thousand).  At this point, I really do bust out laughing.  She makes a final attempt to sell me on forbearance and I tell her no and to have a wonderful day!

I'm enjoying my new sense of empowerment and mental freedom.  Now, if I could only get that to manifest in the physical!