WEBVTT

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Right when you get out of college, your student loans don't come up. Like, they're not due. And I
love shopping and I like food, and I just was spending so much money. And then all of a sudden these
loans came. I was like, well there's something that I can do. I can put them on forbearance or
something... that word... It came due again. I was just living life. Doing my thing.

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Everyone's told you, Get this deferment period, but they don't know how long it is. They don't
know, really, what it means, and who they pay anyway.

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I think I was delinquent because I defaulted, and I didn't - do you know what I'm saying?

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Delinquency starts at day one of being past due. Default occurs once you hit about 270 days past
due. The entire balance is due right then and there.

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Even if it's one late payment. So you've paid over 30 days late on a student loan, it's on their
credit report for over two years.

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You are also going to be receiving lots of calls from people trying to collect.

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I would just get so scared and like AAHH I'm not answering the phone! so I wouldn't answer.

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If you have loans through the department of education, the government can immediately seize
your tax return, garnish your wages, social security income. A lot of companies won't look at you. You
could lose any professional certification you have - CPAs, CNAs, medical license. You could lose BAR
certification for being a lawyer. You are stuck in a vicious cycle at that point.

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I could've prevented all of this if I just would've done a little forward planning and picked up the
phone and told them what was going on.

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I deal with calls like this all day long and I'm just there to help people with their student loan
debt.

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It happens to people. Don't be afraid! Just pay your loans.