HELP Fast! Student Loans

I have $12,100 student loans, and $2800 credit card debt. I have been
unable, due to unemployment, to make payments for 4/5 months. I am
living with my parents right now. I already used up my interest-free
status; but please, do not lecture me, I'm unhappy about my choices as
well; I just need some help right now.)

The student loans are divided:

1.) $1300 British Columbia Provincial Loans sent to collections (US and
other nationalities READ ON, your advice is MUCH appreciated,)

2.) $4300 kept by Royal Bank for **ONLY** one or two more days (all they
guaranteed),

3.) About $6500 sent back to the canadian government.

I need a reasonable proposal, that the banks will accept, and that will
let me put my life back on track.

I've always helped my mom (here-and-there), with her small startup
business, albeit never as a regular employee, and never paid for it.
She now insists, that for us to succeed, she wants to help my situation
from worsening. The deal is I get a (part)time job as fast as possible,
and then start helping myself.

She is tight, and wants the cheapest solution. The CCSBC(Credit
Counseling Society of BC) sounds rather reluctant to talk to me. Their
response: if you are unemployed, and the collectors are harassing you,
write a letter, and demand phone calls to your parents' home to stop.
It's your legal right.

This is fine, but I really do want to find a solution, if possible. I
have always told them that I want to pay them back anyways.

I think we can handle the BC Provincial loan ($1300.)

These groups already give me an idea on credit card negotiations: reduce
interest from 17% to 9% (or even 5%), stop late charges, start regular
payments. Does this make sense? Is $50 payments on $2800 credit card
debt acceptable, or laughable? Ideas Please. Do I call the bank, or
the collectors? Thanks!

This leaves the federal student loans: $4300 with the bank, and $6500
with the government: total minimum payment used to be $120. What is a
good proposal to make?

Less monthly? (How much?)
Less interest? (What percent?)
Forgiveness: not paying past 4 months in a single shot? (I NEED this.)

Which are practical, which are not?

Any help is DEEPLY appreciated, and needed. Urgently!! Before further
transfer to collectors, who must be paid extra $$)

Thank you so much.

PS: If you MUST lecture me, kindly, at least respond to my questions as
well. I'd appreciate any good advice you are able to give.

Do you have credit counselors there- the kind that consolidate all of your
debt, contact the creditors and negotiate the payback rate for you, you just
make one payment to them and they disburse? IIRC there arecaveats that you
can't incur more debt and have to give up all CC's.
You being in BC, I don't know much what there is offered or what
consequences for delinquent credit are.
Good Luck



"rob" <rob_news123.RemoveThis@yahoo.ca> wrote in message
news:Pz9_b.595477$ts4.542971@pd7tw3no...
> I have $12,100 student loans, and $2800 credit card debt. I have been
> unable, due to unemployment, to make payments for 4/5 months. I am
> living with my parents right now. I already used up my interest-free
> status; but please, do not lecture me, I'm unhappy about my choices as
> well; I just need some help right now.)
>
> The student loans are divided:
>
> 1.) $1300 British Columbia Provincial Loans sent to collections (US and
> other nationalities READ ON, your advice is MUCH appreciated,)
>
> 2.) $4300 kept by Royal Bank for **ONLY** one or two more days (all they
> guaranteed),
>
> 3.) About $6500 sent back to the canadian government.
>
> I need a reasonable proposal, that the banks will accept, and that will
> let me put my life back on track.
>
> I've always helped my mom (here-and-there), with her small startup
> business, albeit never as a regular employee, and never paid for it.
> She now insists, that for us to succeed, she wants to help my situation
> from worsening. The deal is I get a (part)time job as fast as possible,
> and then start helping myself.
>
> She is tight, and wants the cheapest solution. The CCSBC(Credit
> Counseling Society of BC) sounds rather reluctant to talk to me. Their
> response: if you are unemployed, and the collectors are harassing you,
> write a letter, and demand phone calls to your parents' home to stop.
> It's your legal right.
>
> This is fine, but I really do want to find a solution, if possible. I
> have always told them that I want to pay them back anyways.
>
> I think we can handle the BC Provincial loan ($1300.)
>
> These groups already give me an idea on credit card negotiations: reduce
> interest from 17% to 9% (or even 5%), stop late charges, start regular
> payments. Does this make sense? Is $50 payments on $2800 credit card
> debt acceptable, or laughable? Ideas Please. Do I call the bank, or
> the collectors? Thanks!
>
> This leaves the federal student loans: $4300 with the bank, and $6500
> with the government: total minimum payment used to be $120. What is a
> good proposal to make?
>
> Less monthly? (How much?)
> Less interest? (What percent?)
> Forgiveness: not paying past 4 months in a single shot? (I NEED this.)
>
> Which are practical, which are not?
>
> Any help is DEEPLY appreciated, and needed. Urgently!! Before further
> transfer to collectors, who must be paid extra $$)
>
> Thank you so much.
>
> PS: If you MUST lecture me, kindly, at least respond to my questions as
> well. I'd appreciate any good advice you are able to give.