Student Loan Scams 1 – Sallie Mae, Part 2
admin | May 11, 2010 | 4 comments
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[Part 2] Sallie Mae is the largest student loan company. We look at a 60 Minutes report on Sallie Mae and how Sallie Mae, with the help of government, makes a lot of money off of student borrowers.
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only if their credit allows it, if they are not capable of taking on your loan on top of what they're already paying, then most banks wouldn't allow it.
No one will "take over" your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.
If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can question your lender to "rehabilitate" your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.
I used direct loan consolidation. It took about 2 months.
http://www.loanconsolidation.ed.gov/
Stay away from Feldman Law Center! Steven Craig Feldman and Feldman Law Center use fraud to get clients!!!!!!!!!!!
Also, Steven Craig Feldman is not just a lousy attorney, he is a dead beat dad.