Consolidating student loans in garnishment
Check your rate using Ready For Zero's free debt consolidation tool.
People have saved thousands by consolidating higher-interest debts using a single, personal loan, this will not negatively impact your credit.
The key to avoiding or bouncing back from default is to maintain contact with your lender or servicer as soon .
Keeping the lines of communication open will help you to maintain your sense of direction and to help you carve out your plan of action. For a closer look at the experience of defaulting on student loan debt, check out one woman’s personal story of student loan default shared via The Billfold.
Be the one to make the call, start the conversation, and begin exploring your options.Along with a lowered credit score you’ll also face the higher interest rates that often accompany a lower score.Since the mark of default can live for years on your credit report it’s a consequence that could potentially follow you for years.Beyond answering your questions they can also tell you if you qualify for programs like the Income Based Repayment plan or Pay As You Earn plan.These plans can lower your monthly bill to a number that may feel more manageable.