There's a good chance that if you ever took out a student loan to help pay for college or higher learning expenses, you probably have a federal loan. Loans such as Stafford, Graduate Plus, Parent Plus and Perkins are all types of federal student loans. Federal loans are guaranteed by the government - aka - the Department of Education - but are actually serviced by many different private companies, including Sallie Mae, Great Lakes Education and Nelnet. These companies help manage your student loan payments and related accounts.
But they won't really help you when you realize you can't afford your student loan payments anymore. They may offer you a deferment or forbearance, but those are just short term solutions to an ongoing life long problem. Their solution, unfortunately, is to turn over your account to a nasty debt collector who will do just about anything to get the government's money back. Some of the most common student loan debt collection companies are Allied Interstate, CBE Group, NCO and Pioneer Recovery. Do any of these companies ring a bell?
Attorney Peter J. Bernadich, a student loan lawyer, can help you -
Bernadich Law, PLLC also helps individuals with private student loans. Private student loans are often taken out to help pay for additional educational expenses. These loans are usually issued and insured by private banks and lending institutions - not the federal government. And therein lies the problem.
Students with private student loans are not eligible for any government based student loan assistance or forgiveness programs. Missing even one private student loan payment can put your loan in immediate default. Once your account has defaulted, there is no turning back. Your private student loan will be charged off and then transferred to a debt collector for pursuit. And that's when things can get really difficult to say the least.
Fixing a borrower's private student loan problem is not an easy task, even for a student loan lawyer. But that doesn't mean that options do not exist. That's why you need to contact Attorney Peter J. Bernadich, a student loan lawyer, at the very first sign of trouble.
You can contact us at (586) 381-7000 (lower Michigan) or (989) 787-3000 if you are located in Northern Michigan /Upper Penninsula
And want to learn a little more about student loans? Check out my blog here: