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Can you make pay arrangements for your outstanding defaulted student loans?
Wiki User
∙ 14y ago
There are only 2 ways to get out of default on your Federally Guaranteed student loans.
- Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.
- The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
Wiki User
∙ 14y ago
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Can you get your student loans paid for by joining the peace corp?
if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans
If you catch up a defaulted loan can you get a another student loan?
In the US, yes you are eligible for additional student loans if you rehabilitate, bring current, or consolidate your defaulted federal loans. If you need help with the consolidation of your defaulted loans, click the link below.
Wage garnished student loan paid off can you get another student loan?
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
Can you receive the GI Bill if you have defaulted student loans?
No they check on that.
Is it possible to reconcolidate defaulted student loans?
In the US,it is certainly possible to consolidate your delinquent or defaulted student loans. Most lenders will not accept them, but a few will. If you need assistance with the consolidation of your loans, click on the link at the bottom of this text box.
If you have outstanding student loans and die is the estate charged for the student loans?
Actually, that's not true - student loans are forgiven when the student dies.
Is wage garnishment for a defaulted student loan considered an outstanding judgment?
In the US, a student loan collection company that is garnishing your wages will already have a court judgment against you. You can get out of the judgment and garnishment by consolidating your loans. Click the link at the bottom of this text box to get help with the consolidation of your loans.
Are you eligible for a single-mother student grant if you have defaulted on your student loans?
In the US, the answer is no, unless you rehabilitate the defaulted loans for 12 months or unless you consolidate the loans. A person with defaulted federal loans is not eligible for additional federal assistance until the default status is rectified. Once the loans are rehabilitated or consolidated, you will then be eligible to go back to school and receive additional loans or grants. If you need help consolidating your federal student loans, click on the link below this text box.
Can you settle a defaulted student loan?
In the US, if the student loan is Federally Guaranteed then the answer is no. The Dept of Ed. and it's collection agencies will not negotiate or settle a debt. If the student loans are private, then the answer is yes. If you need help with your defaulted student loans, the company listed at the bottom of this text box can help you.
Are student loans outstanding?
than you have pay back
What are your rights in dealing with collection agencies for a defaulted student loan?
Your rights are extremely limited. If you have a specific question, please repost. The previous person who said that cannot collect after 3 years was completely incorrect; federal student loans have no statute of limitations whatsoever, and ED is still collecting on loans from the 1960s. Collectors of defaulted federal student loans will not negotiate, collectors of private student loans will negotiate.
Receiving student loan when being in Default?
In the US, you can only get a new student loan if you rehabilitate or consolidate the defaulted loans. To rehabilitate, you need to make 9-12 on time payments to your current lender. If you need help with the consolidation of your defaulted student loans, click on the link below
