My girlfriend has two student loans, totaling about 15000, that have been sent to collection agencies. She is struggling to pay them and I was inquiring about settlement or consolidation for her. Now I noticed by lookng through some topics on this forum, that most debts on here are credit card debts. I was wondering if student loans are any different? Are there differnt interest rates than credit card debts if consolidation was chosen? She hasnt finished yet because of money, but now that they are coming after her she's going to need to pay these debts off before she can go back and finish school. Thanks in advance for any responses. Great forum by the way.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.