Saturday, November 11

Tag: college debt

Why Strategic Default Does Not Save Money on Student Loans?
Business, Finance

Why Strategic Default Does Not Save Money on Student Loans?

If you qualify for student loan forgiveness, paying down the college debt is one of the best ways to get rid of it, and bankruptcy can also provide a solution. As a result, you might be considering intentionally defaulting on the student loan debt in order to see if you can settle for less rather than what you owe. Keep in consideration that this practice is common with other types of debts. Moreover, there are several debt settlement companies to help you do it. However, when it comes to Strategic default private student loans, it's doesn't seem a better idea. Let's why? Why Strategic Default Won’t Help? If you have defaulted on the student loans, keep in mind, the Department of Education will refer your account to a debt collection agency. Collection agencies offer three stud...