Don’t Allow Your Private Student Loan to Turn into a Default Judgment
Today, over 45 million borrowers are forced to accept the realities of dealing with what can sometimes be massive private student loans. The cumulative debt, now lending itself to be known as the student loan debt crisis, stands at almost $1.6 trillion, and is not only an ongoing topic in the news—as well as political speeches, debates, and promises—but it is also one that is central to many households in the US today.
Whether you are married and one or both of you are carrying student loan debt that must be paid off, or if you are single, that student loan could be stressing your household budget to the limit, as well as constricting your life in many ways. You may be finding it increasingly difficult to pay the bills, but overall the path of your life may not be going in the direction you desire due to the inability to fund so many of the ambitions you originally went to school to gain an income to pay for—from hanging out your own shingle and starting a business related to your degree, to buying a house, car, getting married, starting a family, and more.
If delinquencies are starting to accrue, speak with an experienced student loan debt attorney from a firm like Fitzgerald & Campbell, APLC as soon as possible to examine your options, and improve your quality of life. Experiencing a default on student loans is not the direction you want to go, and in fact, it is critical to avoid such a predicament resulting in damage to your credit, affecting your ability to get additional funding for education later, and even bring on a possible collections lawsuit or default judgment.
If your loan has fallen into default already and you are being sued by a private student loan servicer, immediate action is required to protect yourself. Working with an attorney who will act in your best interest, you must reply to such action and begin working on a defense (unless negotiation with the creditor or debt collections agency is the better choice) to avoid having a default judgment granted against you, giving the plaintiff considerably more power to collect on the debt to be satisfied as default judgments may result in garnishing of wages, seizure of property, loss of control over financial accounts, and more.
Have you experienced problems with your loan service provider or student loan program, or are you in danger of defaulting on your student loan? Contact Fitzgerald & Campbell, APLC now so one of our experienced student loan debt attorneys can review your case and discuss all the available options with you.
Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (855) 709-5788, or email us at email@example.com.
Posted in: Student Loan Debt