This post explains how to manage student loan collections and get out of default both with and without bankruptcy. It explains in a few words and a couple of minutes what you need to know while giving you a plan of action. Each part of this can be expanded as a topic if you need…
Private student loans must go to court to garnish wages. Many defenses exist to defeat their lawsuits, such as the statute of limitations. But federal student loans have the right to start a garnishment without going through the first step of filing a lawsuit. Also, there are statutes that avoid many defenses like the statute…
Can you believe it?! DOE gives out Student loans for prisoners and the dead. Additionally, what is happening is that since 2018 the Department of Education has not given out death and disability discharges. However, the facts are that the Department of Education gives fraudulent student loans to convicts in prison or people pretending to…
Did you know that student loan bill collectors are often paid over $100,000 a year to put you into loans and rehabilitation programs that are neither reasonable nor affordable? In fact, student loan collectors are paid like the mortgage industry servicers who violate the law and regulations. Student loan collectors are paid by charging fees…
There is no statute of limitations for government student loans. Federal Student loans are exempt from the state statute of limitations because of Section 484A(a) of the Higher Education Action and 20 U.S.C. § 1091a(a). However, Private student loans are subject to the statute of limitations and all the same defenses that any other contract…
We’ve all heard about colleges encouraging students to go into debt for degrees that fail to equip students to repay the debt. Government loans balloon the default, which taxpayers ultimately repay. But, you can be sure the servicers find such penalties highly profitable. The default charges include a 25% penalty when the lender first declares…