Category Archives: Student Loan Debt

Is student loan debt dischargeable in bankruptcy? Learn about student loan debt information and the potential benefits of filing bankruptcy.

4 Reasons You Shouldn’t Ignore Debt Collectors

There are several likely outcomes that stem from trying to ignore debt collectors, and none of them are advantageous. To put it frankly, ignoring your debt won’t make it go away. Here are the most likely scenarios that ignoring your debt will lead to, though. Why You Shouldn’t Ignore Debt Collectors Your credit suffers – A collection account is likely to appear on your credit reports whether you work with debt collectors or not. If you attempt to speak with a collector, however, you will at least have the chance to present your side of the story and maybe work something out with them. Your debt grows – Failure to pay your debts could result in the collector adding interest and collection costs to your debt. It all depends on the contract you agreed to when you took out the loan or signed up for the given credit card. Generally,…
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3 Things You Might Not Know about Refinancing Student Loans

Refinancing student loans is a common piece of advice for people looking to escape debt or simply save money on interest rates. But how much do you really know about the process? Here are a few things you might want to learn about refinancing student debt. 3 Things You Might Not Know about Refinancing Student Loans It could mean the end of your federal loan benefits: Refinancing with a private lender means losing your federal student loan benefits. These benefits include flexible repayment options, public service loan forgiveness programs, deferment options and other important benefits. Make sure you understand the benefits you might be sacrificing to get that better rate. It may still be worth it, but it’s always better to know before rather than after you make a deal. It’s not the same as consolidation: People often have a hard time knowing the difference between refinancing and consolidation. Consolidation…
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How to Get Rid of Student Loans

The question of how to get rid of student loans is massive topic in America right now. Whether you are tuning in to a national political debate or simply getting lunch with your friends, it’s an impossible conversation to avoid. That’s because there is more than a trillion dollars in outstanding student loan debt in the country right now. In an economy that isn’t always hospitable, young people and others may find these massive debts impossible to get rid of. Here are some tips for how to finally do away with them. Tips to help get rid of student loans: Pay down higher interest rates first: If you have multiple student loans, don’t forget that not all of these debts are created equal. Make payments on all your loans, but if you want to start paying them down, start with loans that have a higher interest rate. This will help…
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