Beneficial / Loan amount
Ten years ago, ten years younger and not so wise, I received a check in the mail for $5, 000.00. I never applied or at any time requested information for this. I thought, "oh my, I must be doing very well." What an idiot!!! It is now 10 years later and still owe more than 2, 000 above the loan amount. No matter what I try to pay, which I will admit is never the total amount due, just don't have the funds for the that, I am always called and always charged late fees.
The original loan was just that, a loan. I remember having to go to the office after I regrettably banked the check and the lady talked me into transferring the loan over to a line of credit. WOW, I thought!!! Look, I know I took this loan and I need to repay, that is my responsibility but something has to give. Like most people, I can not afford a garnishment. I am now a single mother of three and am barely able to put food on the table. Is there anything that I can do or someone I can talk to, something.
I know this is no good excuse but was young and had no idea what anything meant on the contract .. idiot, yes I was but is it that they could approve me for a loan, by sending a GOOD check in the mail - me signing that check equaled a signed contract, with out even having my social to see if i qualified.
Please, any information is welcome.
Thank you Malinda