Debt collectors have a job to do. Unfortunately, their job descriptions usually seem to require them to harass you until you hand over the money they demand. To get you to do this, they are trained to use a variety of tactics.

One of those tactics is to scare you into thinking that you have no other options. You are in default and have to pay the debt in full now! But this is incorrect when it comes to federal student loans.

Getting Out of Default

College graduates with these loans have the right to get out of default through the rehabilitation or consolidation of the loan. If you ask to get out of default to relieve student loan burdens and stop intimidating phone calls from bill collectors, they have to work with you.

The problem is, debt collectors are not always familiar with the type of loan you have and your rights regarding curing default of the loan. Instead, they are told to collect late payments from you, no matter what.

Their harassment may lead to your receiving inaccurate information, which is a violation of federal law and could give you a basis to sue them! Just because you are in default doesn’t mean that it is too late to fix things.

So What Do I Do?

If you live in southern New Jersey and have defaulted on your federal student loans, I may be able to help. Please call me at (856) 432-4113 today to schedule an appointment in my Woodbury office. I will work with you to get out of default and into an affordable repayment plan.

If you would like more information about student loans, you can download my free book, I Graduated; Now What? A Guide to Dealing with Your Student Loans.

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Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.