can you negotiate a settlement for defaulted stafford?

[terpndebt]

Is it possible, if so how do you go about it?

[LynnInMN]

Is it possible, if so how do you go about it?

 

 

Settlements for student loans are generally one time payments. Depending on how long you have been in default, they generally will waive some or all of the collection fees. Talk to the CA who is handling the account. Also, you are better off offering a settlement in the last 10 days of the month....the CA will work harder to get it approved!!!

[terpndebt]

They should pay you lyn , I am really trying to avoid speaking to CA until I feel comfortable with my options. I am having my taxes ofset again this year for probably @ 5-6k. On the DOE website it says I have 2 2,500 loans, plus 2 # 3,500 interest totaling 12,000 plus. The collection cost is not included. I would love to put this behind me, should I wait until notified of my offset and then get a true balance to try to settle?

[LynnInMN]

They should pay you lyn , I am really trying to avoid speaking to CA until I feel comfortable with my options. I am having my taxes ofset again this year for probably @ 5-6k. On the DOE website it says I have 2 2,500 loans, plus 2 # 3,500 interest totaling 12,000 plus. The collection cost is not included. I would love to put this behind me, should I wait until notified of my offset and then get a true balance to try to settle?

 

 

I think you are ok waiting until your taxes post. Try to get yourself in a position where you can get the funds to SIF quickly, and then spring it on the CA in the latter part of the month. I remember many a month when a SIF or PIF possiblity came up ... we would jump thru hoops to get pay offs and settlements and that payment in the door by the last day of the month.