http://phpanda.livejournal.com/ ([identity profile] phpanda.livejournal.com) wrote in [community profile] davis_square2012-09-24 08:57 pm
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settlement defaulted student loans

Have anyone successfully negotiate a lump sum settlement to avoid 18.5 or 30% collection fees for student Perkins/Stafford loans that have gone into default? I am amazed for not paying for one year that the interest rate has gone through the roof, payments cannot be income-based until out of rehab, and there are these incredible collection costs on the full principal.  Working two jobs but don't want to do this for 10 years+! Any tips?
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