Hi, I have both federal and private loans. My federal loans are all in good standing, as I kept up with them and they are now on an "in-school" deference since I have gone back to school.
My private loans are another story. I did not know they were past due, and before I knew it, I had a call from Sallie Mae demanding payment. Before I could even get back to them, I received a notice that it had been sent to collections. I called and set up a payment plan, and ended up finding out more had been sent to collection, 3 loans total. I have been paying the collection agency now for two years, but when I sign into my Sallie Mae account, it said that payment is stil xxx days past due. Is there any way to take care if this? Help!
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.