Private Student Loans...No way around them!

You can't bankruptcy them.
You can't rehab them, like federal loans.
You have very little options for repayment.

They are similar to an unsecured debt.

I don't understand them. There is no way I can afford to pay the amount they want. They do not want to work with you.

My private student loans are several months behind. The payment is a few hundred less than my mortgage. I do continue to send it what I can every month.

I live in Texas and have been reading up on what can and can't be done. According to the official stuff I read, no wage garnishment, no tax garnishment, can't force you to sell your homestead, etc. etc. If they get a judgment, there is no way to enforce it, except renew it for the rest of my life. Oh yes and ruin my credit.

However, I would be willing to work out a different repayment option for the rest of my life. I would think they would want to do that and get something rather than nothing.

Just a vent! (please no flaming!)

Most of what you are venting about is fully explained in the documentation you were provided when you took out the loans. However, very few folks take the time to read all that information and are shocked to see some of the things they agreed to when they took out a loan or a credit card. What they will probably do is get a judgment against you to place against your house (you mention you have a mortgage) so that when/if you sell it, they would get paid as judgments on real estate have to be satisfied before transfer of title can be made to a new owner.

I think that even though they cant take your wages and such in texas they an still garnish/freeze your bank account. I despise private student loans, we have on with sallie mae. I think it is criminal what they do.