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.