How to Deal With Your Defaulted Student Loan Accounts

deal with defaulted student loan accounts

Graduating and finding your first job is an exciting time in your life. It could also mean that it’s time to start paying back your student loans (Eeeeek!). Many college graduates enter the workforce with thousands of dollars in student loan debt. In fact, about 44 million graduates have (combined) over a trillion dollars of outstanding student loans.

How to Deal With Your Defaulted Student Loan Accounts

If you don’t make your payments, calls from debt collectors can leave you wondering if your degree was worth getting into debt. It’s important to take immediate action to make the loan current. Here are a few things you can do to deal with defaulted student loan accounts.

Effects of Student Loan Default

When you default on a student loan, your lender will begin a collection process. If you still don’t pay, the bank can put a bank levy on your assets including . . . → Read More: How to Deal With Your Defaulted Student Loan Accounts