Student Loans Debt Collection
The cost of going to college has never been higher, and students are taking on an unprecedented amount of debt in order to obtain both undergraduate and graduate degrees. After all, the promise of the American dream is that once you graduate from college or get an advanced degree, doors will open and you’ll have virtually limitless earning potential. Unfortunately, the reality is that today’s graduates are entering the job market at a time when the unemployment rate has skyrocketed. Even those who do find jobs are often barely able to make ends meet. And before they know it, their student loans come due. The result? An increasing number of graduates are up to their eyeballs in debt, and quickly fall behind on their student loan payments. Those who have default student loans may be hounded by debt collection agencies willing to do or say anything to make a buck.
Loans from the U.S. Department of Education
When you’ve decided not to continue your college education, you’ve graduated, or you’re attending college less than half time, the repayment clock starts for loans held by the U.S. Department of Education. Some types of loans require that you start repaying them in six months, while others require that you start repaying them in nine months.
If you’re falling behind in your student loan payments or if you have default student loans, there are several things you need to know. Click on a link below to learn more.
Student Loan Debt vs. Other Debts – Student loans are unsecured by real property, but they are different from other types of unsecured debt. Learn why the statute of limitations and even bankruptcy don’t apply to student loans.
Department of Education Debt Collection – The Department of Education has the power to garnish your wages or ask the IRS to seize your tax refunds. Learn about your rights regarding wage garnishment for student loans.
Disputing a Defaulted Student Loan – There are three legitimate reasons to dispute a student loan. Learn if you could qualify for a student loan dispute.
Student Loan Collections and Debt Collection Agencies – The Department of Education outsources student loan collections to third-party debt collection agencies. Learn about the lucrative education contracts awarded and the collection agencies to whom they’re awarded.
Lemberg & Associates’ team
of consumer attorneys is highly
skilled and ready to help you
with debt collector abuse.
If you have been the victim of harassment or illegal or unfair debt collection practices, Lemberg & Associates will discuss your options with you and protect your rights. For more information, contact Lemberg & Associates today at .
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