Commencement of Concerns: Student Loan Debt
It is that time of year for students across the country to receive responses to their applications for admission to colleges and universities. Congratulations to those of you who have received good news and I implore those of you who received not-so-good news to remain encouraged.
Upon receipt of your acceptance letter or e-mail there are decisions to be made. A key decision is how to finance your education. Inevitably for many students this leads to the contemplation and origination of student loans. These loans allow you to receive the education and training you need to presumably create a better life and opportunities for you and your family. An investment in your future, if you will. Raising one’s standard of living is quite important in today’s challenging economic times.
Student loans are debts and must be repaid. Because of their somewhat unique nature they are typically not subject to discharge in bankruptcy. Given the growing amount of student loan debt the current trend is that collectors seeking to recover on this debt are becoming more aggressive. In fact, some of them are resorting to outrageous tactics used by their brethren who collect on credit card debt and medical debt….sad but true.
Before agreeing to take on a student loan do your homework. Click here and here for an excellent list of helpful resources for student loan borrowers. Student loan borrowers do have protection from harassing and unfair debt collection acts and practices. You can file student loan complaints with the Consumer Financial Protection Bureau. If you need a review of your legal options regarding offensive activities by collectors of student loan debt contact an experienced debt collection defense attorney.
Congratulations on your educational expedition and may it lead to a better life for you. May you earn the money needed to retire that student loan debt and lead a charmed life….
- Posted in: Consumer Law/Consumer Protection ♦ Debt Collection Defense ♦ Harrassing Debt Collections ♦ Unfair Debt Collection
- Tagged: bankruptcy, complaint, consumer financial protection bureau, debt collection defense, FDCPA, nondischargeable, North Carolina Debt Collection Act, student loan, subsidized v unsubsidized