bjTX Posted October 9, 2008 Report Share Posted October 9, 2008 I am taking your advice and started negotiating with my collection agency "in writing" for a settlement for my federally guaranteed student loans.I hate doing monthly payments as my student loan is high, and I will never finish paying off all my loan. So I am thinking to ask them to accept one time payment to settle the loan, say 30% of the principle. Is this acceptable and reasonable?bj Link to comment Share on other sites More sharing options...
scorch Posted October 9, 2008 Report Share Posted October 9, 2008 Possibly. Maybe you can try a PFD. Link to comment Share on other sites More sharing options...
nascar Posted October 9, 2008 Report Share Posted October 9, 2008 They have no reason to deal with you. Student loans aren't quite the same type of debt as an unpaid credit card. Link to comment Share on other sites More sharing options...
bjTX Posted October 9, 2008 Author Report Share Posted October 9, 2008 Nascar says:> They have no reason to deal with you. Student loans aren't quite the same > type of debt as an unpaid credit card. I am consused. Why they should do not deal with me? Should I go through a lawyer to do this? Link to comment Share on other sites More sharing options...
buckeyechick1219 Posted October 9, 2008 Report Share Posted October 9, 2008 Credit cards aren't the same as student loans as student loans aren't governed by statute of limitations (as far as I know.) If you default on a student loan, they can come after you until the day you die. They can take your tax returns, garnish your wages, whatever they like until the loan is paid. They can't be discharged in a bankruptcy either. Once you're on the hook for student loans, they are yours to pay, in their entirety, until you are deceased or permenantly disabled and request forgiveness. Link to comment Share on other sites More sharing options...
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