San Diego Private Student Loan Debt Relief Attorney

san diego private student loan debt relief attorneyAre you overwhelmed by private student loan debt problems? Get student debt help from Gamez Law Firm, experienced debt lawyer that can help you explore your debt relief options for private student loan debt! Contact us today for a FREE initial consultation to discuss how we can lower your total debt owed for private student loans and federal student loans.  If you’re being sued, we also provide Student Loan Lawsuit Defense services, which sets us apart from debt settlement companies. 

Private Student Loan Debt Help in San Diego

Most students end up with private student loans, since there are lending limits on Federal loans that are often maxed out during undergraduate education.  The Gamez Law Firm has provided private student loan debt help for clients with loans from Sallie Mae, Navient, National Collegiate Student Loan Trust and many other lenders. Private student loans can be the most difficult and damaging for a number of reasons:

  • Payment terms can often apply while in school, including payments of principal and accrued interest. Considering the amount of time involved with classes, studying and other school-related activities, many students don’t have time for a job. Without a steady source of income, the arrangement has become challenging for borrowers, leading them to default on their loans.
  • Most private loans are unsubsidized, so it’s more like a credit card that you must begin monthly payments on as soon as you receive funding.
  • Most private student loans do not allow for forbearance, deferment or hardship exemptions, so you’re required to pay no matter what the circumstances.
  • Most private loans include variable interest rate provisions. This means that your interest rate may vary based upon economic factors and inflation. It can be difficult to plan ahead and unforeseen factors may mean you’re paying a lot more or less from month to month.
  • Private loans can be co-signed. Because borrowers of private student loans can use a co-signer to qualify, the arrangement essentially puts another person on the hook for repayment. If the primary borrower makes late payments or defaults, these circumstances impact the credit history of the co-signer as well.

When you default on a private student loan payment it won’t be long before the debt collection calls start.

Debt Settlement Is A Viable Option For Private Student Loan Debt

While student loan debt cannot generally be discharged in a bankruptcy, negotiating a debt settlement is a viable option.  A debt settlement occurs when the student loan borrower negotiates with your student loan lender to reduce the total amount of your loan that you will need to pay back.  Why would a lender agree to a debt settlement?   If you can no longer pay your student loan debt, the lender would rather you give them something rather than declare bankruptcy and give them nothing.

The key to getting a good settlement is knowing what to offer, how much personal information to provide, and when the lender is offering the best deal.  You can attempt a private student loan debt settlement on your own or call San Diego student loan debt relief attorney Daniel Gamez at 858-217-5051 for a free consultation.

Watch our Video “What to Do if You Have Been Sued By National Collegiate Student Loan Trust”

To learn more about a private student loan debt settlement, visit our FAQ page

debt settlement frequently asked questions

Private Student Loan Debt Settlement Success Stories

  • Our client owed Navient $142,263.75 for private student loans that went into default. The client had a relative willing to help pay a negotiated settlement. We settled the debt for $45,000.00. Our client realized a savings of $97,263.75.
  • Our client owed in excess of $57,000.00 for 8 private student loans, with an out-of-state co-signing parent. We were able to negotiate a settlement of all 8 loans for $35,700.00, with the payments spread out over 84 months, with no interest.

To read more Gamez Law Firm private student loan success stories, visit our Client Success Stories page

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