I am behind on my student loan payments and now a company that I am not familiar with is calling me about my payments. Is this legit?
Yes. The Department of Education can hire any of the following third party debt collectors if you default on your payments:
Account Control Technology, Inc. · Allied Interstate, Inc. · Collection Technology, Inc.
Collecto, Inc dba Collection Company of America · ConServe · Delta Management Associates
Recovery Systems, Inc. · Financial Asset Management Systems, Inc. (FAMS) · GC Services
Immediate Credit Recovery Inc. · NCO · Performant Recovery, Inc. · Premier Credit of North
America · Progessive Financial Services · The CBE Group, Inc. · Van Ru Credit Corp. ·
Can debt collectors call me three or four times a day about my student loan payments?
NO! The laws are a little different for student loan collections than collection debts like credit cards, but that doesn’t mean they have the right to harass you! Even though you have gotten behind on your payments, according to Federal Law, under the FDCPA, they cannot harass, abuse, deceive, or intimidate you, call your neighbors, co-workers, or relatives.
Does my student loan lender have to sue me to garnish my income?
NO! Student loans can sometimes lead to garnishment — taking you tax refund or money taken out of your paycheck — without a court judgment!
Will filing bankruptcy wipe out my student loan debt?
NO! In most cases you cannot discharge student loans in bankruptcy. Student loans are often big debts & big problems for many of my clients! The qualifications to have student loans discharged in a bankruptcy is long and excruciating, often ending in a denial.
Fear not – if you have outstanding student loans there are programs out there to help you:
- Consolidation: This program combines all of your student loans into one, lowering your payments and extending the repayment term.
- Income based payments: This program is a repayment plan that bases your payments on your income. What is great about this plan is that it can significantly reduce the payment amount as it’s based on your salary. Another perk with this program is once you qualify for an income sensitive payment, you cannot be asked you to pay a higher amount.
- Rehabilitation: A way to start marking payments for 9 months to cure your default and that payment can be as low as zero.
If you are being harassed by a collector about your student loan debt, TAKE ACTION! If you need help with your student loan debt or stopping harassing collection calls, contact the Florida Consumer Rights Attorney Robert Peters TODAY at 904-421-6907 or email firstname.lastname@example.org for immediate relief! It’s easy!! All you need is your NDSL log in information and we can take it from there.
Remember – Doing nothing changes nothing!