Thanks for taking the time to read my post and to consider my situation.
Here is what I'm currently looking at:
I recently (yesterday) received a letter from a collections agency stating that they are looking to collect my student loan debt on behalf of the creditor (that's more assumed as they require my check written out to the creditor). This loan is in such a state due to the obvious reasons, so I won't negate that, however, I am not in a position in which I can give them what they require and I'm afraid of it coming back affecting my girlfriend with whom I reside.
I have done some research thus far and have tried to find means to either settle to debt or to try and argue it (arguing is out of the question, actually).
I'm concerned about what my options are and what I should expect over the next few days/weeks. Any assistance is greatly appreciated. Thank you.
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.