Do you need help with your defaulted loan?
No, I have no idea who I should contact for my defaulted student loan help.
Unfortunately, no relevant information is found.
Can you tell me what happens after my defaulted loan has been consolidated?
Actually, you Direct Consolidation Loan will be eligible for benefits such as deferment, forbearance, and possibily loan forgiveness and you could also be eligible for more federal student aid.
Hello there, that's probably what will happen. Could you please explain what a servicer is and what they can do for me?
Sure. As you probably know already, they are related to loans management, so in a formal way, they are companies that we assign to handle the billing and other services on your federal student loan on our behalf. That service is done without any cost for you.
Are you familiar with the William D. Ford Federal Direct Loan (Direct Loan) and Federal Family Education Loan (FFEL) programs? Can my loan holder's wage garnishments continue during loan rehabilitation?
Yes, wage garnishments or any involuntary payments could continue even after you have been making payments under the loan rehabilitation agreement but they will not be counted toward your mandatory nine payments.
Another question, if my loan is in a collection agency, what other costs could I incur? and do private collection agencies earn a commission from payments?
The private collection agencies earn a commission for any payments you make.
I'll just make a note to inquire about my federal student loan. What happens if I rehabilitate a loan that has been defaulted on?
Your default will be taken off your credit history; but your credit history from your late payments will still be on it.
Is there a particular plan I can repay my Direct Consolidation Loan?