August 23, 2018
A man from Massachusetts tried to arrange for a voluntary repayment of his student loan when he fell behind on the payments. He availed a legitimate rehabilitation program but the loan guarantor began collecting a large portion of the man’s monthly salary. This left the man unable to pay for the rehabilitation payment.
To help the man, the Massachusetts Attorney General’s Office negotiated with the guarantor to reduce the garnishment for the remaining months in the rehabilitation program. It also asked the guarantor to refund the amount that was already taken from the man. The problem of paying off student loan remains one of the biggest challenges of American families to date.
The Problem with Student Loans
Getting a college education is one of the achievements that most people dream about. To get that dream, parents or sometimes, students themselves, find ways to make it possible. Some would apply for a scholarship, while others will avail of . But most of the time, the loan will take too long to be paid as various factors, particularly the economy, gets in the picture.
The case of the man from Massachusetts was among the anecdotes included in the . The survey found out that credit issues are among the top 10 complaints of consumers in the United States. According to Resolvly LLC, a debt resolution company, the economic downturn, and recessions in 2000 and 2010 also contributed to the problems of paying student loans. It said many debtors are burdened with paying the student loan for the next 22 and half years.
How Resolvly Help Students
But debtors who are facing the problem of the student loan may now avail the services of Resolvly LLC’s Student Loan Debt Resolution Specialists. The team of experts from Resolvly can help debtors in properly negotiating for a resolution with the educational institution to whom the client is indebted to.
Resolvly LLC believes consumers may not be aware of consumer protection laws and the repayment options for student loans. This makes them vulnerable to loan guarantors or credit service companies that do not really get to solve the problem. Resolvly has a team of experts in consumer protection laws who works closely with debtors to solve student loan problems.
Before taking the offer of a loan guarantor and create more problem instead of solving them, call Resolvly now at for a free consultation.
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