I signed for a student loan in 1988, loan amount 2500.00. The amount with interest was 2800.00 which I have paid in full, but now the amount is 3400.00 including interest. I have requested an itemized statement of payments and copy of Promissory Note. I was 18 yrs old at the time of loan, my mother is/was a widower. She signed as an endorser (responsible for payment if loan default). Well the loan did go in default but then again I have paid the loan in entirety through the years.They want their interest. How is this fair? No one ever attempted to collect any debt from my mother through the years. The Dept of Ed states their copy of the PN does not include an endorser. I requested this information from them 6 months ago and have yet to receive it. And if their PN shows different than mine, what is the discrepancy and what are my rights? What do I need to do?
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.