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.
- How Student Loans Differ from Other Debts
- Department of Education Student Loan Collections
- Disputing a Student Loan
- Student Loan Collections & Debt Collection Agencies
If you have been the victim of harassment or illegal or unfair debt collection practices, contact the Fair Debt Attorneys at Lemberg & Associates immediately to discuss your options and protect your rights. When you owe creditors money, you are protected by the Fair Debt Collection Practices Act, as well as other federal and state laws. If a debt collector has violated your rights, you may be entitled to up to $1000 in damages, and they may even have to pay your attorney fees. Sergei Lemberg, and the attorneys at Lemberg & Associates have helped countless people to assert their legal rights with debt collectors. Don't be intimidated by illegal debt collection practices. For more information, contact Lemberg & Associates today at .