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About StudentLoansEscape

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  1. I think you should take a look at Loan forgiveness,wherein you have to provide certain public services, all or a portion of his or her loan may be forgiven, which is the release of a borrower's obligation to repay his or her student loan. The most common form of loan forgiveness comes from the Teacher Loan Forgiveness Program.
  2. I dont think its possible to avoid or diminish the collections fee.Its something the loan collector charges you.May be the best thing is to speak to Pioneer guys and convince them to offer a discount,which is highly unlikely but you can nevertheless try it.However,there are debt settlement services that can help you with settlement options.
  3. Only Private (NON-FEDERALLY INSURED) student loans can be settled,same is not the case with federal loans. Also, the loan must be in DELINQUENT (DEFAULTED) status for atleast 3 months. However settling student loans is not easy.Private student loans just like many other forms of debt are still considered an unsecured debt. This means that there isn't anything tied to that money other then you that guarantee repayment.
  4. Can you please confirm if its a private loan and how far the loan is in delinquency. Let me put what I think are the best of the options available to you. 1. If you are willing to take the settlement route(which I dont think you would prefer),you can erase the debt by paying half of the amount owed to the finance company. or 2. You can take them to court. I think taking them to court is a better option if you are sure the loan doesnt belong to you.
  5. Do try to validate the debt.Its better to confirm the facts before going ahead considering the fact that you dont have the promissory note with you.That lets you know if its a federal loan or a private loan as well.The possible you have depends on the type of loan as well.
  6. IF I was in your shoes.I would call up the bank staff and enquire the status.Reading online can be a never ending process.Best way to settle things is to add personal touch.