Curious if anyone on here actually went and how they are dealing with the toxic nasty bundle of loans ITT created. You can't bankrupt them, you can't do income based, you can't consolidate.. There are 0 legal options I can see besides moving 2 continents away or suicide.
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I hear texas won't allow garnishments, anybody have any info?
@Anonymous106370, I am so sorry for your predicament. I agree with a previous poster that said to join the ITT TEch debt strikers (aka the ITT Technical Institute Warriors on Facebook). They are getting some help from the Debt Collective to have the debt forgiven ("defense to repayment"). You can also share your story on myittexperience. A critical mass is needed for something positive to happen. Sorry to post this twice, but I wanted you to know who this message came from.
@Anonymous106370, I am so sorry for your predicament. I agree with a previous poster that said to join the ITT TEch debt strikers (aka the ITT Technical Institute Warriors on Facebook). They are getting some help from the Debt Collective to have the debt forgiven ("defense to repayment"). A critical mass is needed for something positive to happen.
In addition I have a hunch that ITT's fraudulent payments on these loans to keep them looking 'good' also means manipulation of the 6 year statute of limitations that should apply. There may be hundreds of thousands of former students who would have had this wipe off their credit but got kept live because of these payments?
I live in a very red state.. my local senators and AG would probably blow Kevin for $100
6370: fight back with all legal avenues you have available. Join the ITT 100 group and keep fighting until the ITT fraud closes down. It will not take that long. Send letters to your Senators, local AG, your local House of Representatives, radio stations, TV stations and anything else you can get your hands legally. Good luck.
Probably so, but again what are other students doing to deal with it. Unless I was making 100k a year I can't afford to pay them, I can't even do income based because I can't afford even the federals on that, much less the dozen privates that could come in and sue me or garnish my income at any time. There is no legal way to wipe the debt, and avoiding it just seems to allow it to grow. I don't think I'm at the 6 year statute of limitations and even if I was I think most shady collection companies ignore that at will these days. I feel like at some point soon they will start garnishing me and at that point the only real option on the table for me is suicide. I'm barely surviving right now as it is.
The toxic loans are bundled and graded Aaa to AAA by Moody's. They're called "SLABS" and investors cannot get enough. Taylor Mann (Pine Capital) has been writing about it for some time.