Student Loan Debt and the Consequences of Default

After completing their college educations, many Americans are left with lingering student loan debt. Due to financial hardships, they may find themselves unable to make their monthly student loan payments. Every day, college graduates across the country see their student loan debt go into default.

It’s important to understand the consequences of defaulting on student loans. If you’ve defaulted on your loans, you may be experiencing the following problems:

  • Additional fees

  • Limited payment options

  • Wage garnishments and lawsuits

  • Damaged credit score

  • Loss of professional license

  • Ineligibility for student loan forgiveness

If you’ve defaulted on your student loans and are facing these problems, all is not lost. What’s important is that you begin to work toward getting out of default. Fortunately, there are ways to get out of default and to begin to repair your financial situation. If you want to get out of default, the Suber Group can help.

When you consult with the Suber Group, we will help find the solution that will work best for you. One solution to help get you out of default is to consolidate your student loan. The Suber Group has resources available to help you consolidate your loan and work out a more feasible payment plan. Another option is rehabilitating your loan by making a number of payments at an agreed payment rate. Alternatively, it may even be possible for your student loan to be canceled, depending on your circumstances.

Contacting the Suber Group is an important first step toward getting out of default and getting back on the right track. We can help you avoid the consequences of default by providing you with relevant information and by advocating on your behalf.

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