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Debt Collectors for Student Loans – Collecting Like Savages!!

Debt Collectors For Student Loans – Collecting like Savages!

No one wants to be contacted by debt collectors, even more so by Debt Collectors for Student Loans.  There’s a reason many parents try to start saving up for their kids’ college when the kids are born: College is EXPENSIVE!  The struggle to pay them back has increased in today’s economy, where jobs are hard to come by for many college grads.  Even those who have jobs often find that the entry level positions they get can make it impossible to pay for basic cost of living when their high student loan payments start becoming due monthly. It’s estimated that the economic crunch we’re currently experiencing has caused an estimated FIVE MILLION Americans to default on their student loans.  And when there’s default, the dreaded debt collector for student loans s are soon to follow.  While federally backed student loans used to be primarily collected by the Federal Government, President Obama has authorized private companies to hire debt collectors for student loans and Debt Collectors for Student Loans are cashing on on your inability to pay! SOUCE As referenced before, a lot of people don’t know that the U.S. Department of Education contracts out their debt collection activities to a number of different private collection agencies. Source  Like an agency collecting on non-educational debt, these collectors are incentivized to get you to pay.  The more money they bring in, the more money goes into their own pockets.  With this type of incentive it’s no wonder that many collectors will cross the line when trying to extract dollars from people. The Fair Debt Collections Practice Act (FDCPA) applies to these collection agencies just like it would an agency trying to collect on a charged off credit card.  Student loan collectors cannot threaten, berate, scream at, bully, swear at or demean the people they are speaking to.  They can’t misrepresent, lie, or harass friends and family in an attempt to coerce money from someone. If you’ve been the victim harassment by a student loan debt collector within the past year, you should reach out to a fair debt attorney immediately.  Federal law entitles you to up to $1,000 in damages plus costs and attorney fees if a violation has taken place.  Remember, there’s a right and a wrong way to collect debt.  Harassment and abuse by debt collectors is ILLEGAL.  Make sure your rights are protected.  Debt Collectors Hate us – Find out Why!  If you are being harassed, fill out an online evaluation for free, here: Possibly the easiest way to Make $1,000, EVER!

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