Beware of Student Debt Relief Companies

Many recent graduates are stunned when viewing the cost of that first student loan payment, and it’s not uncommon to fall behind on these payments. Many students will also wind up defaulting on a loan or two. Not only does this put an immense amount of financial pressure on recent graduates, but it also often means searching for any kind of relief.

All too often, that type of relief may seem like it comes in the form of “student debt relief” companies - but we want you to beware of getting help from any company that promises to make it all go away overnight.

The Problem

There are a number of companies out there that will help you figure out a way to pay off your student loan debt, defer your payments, and make other arrangements with student loan companies for a price. Often, that price is very high, and you may find that you are paying through the nose just to get those student loan collectors off of your back - but it may all seem worth it in the beginning.

Here’s why it’s not worth it at all:

  • Most of the time, you can make the same arrangements on your own.
  • All of the things that these companies can do can be done by yourself.
  • These companies will make it sound like they have a magic answer to your problems - but they don’t.

Essentially, you will be spending a lot of money to fix a problem that you can fix for free. How? All you really have to do is pick up the phone and make an arrangement - unless you have already defaulted. Once you have defaulted, it becomes a bit trickier to figure out how to get out of student loan debt, but if you have no default, you can make payment arrangements on your own without the help of anyone else.

When You Have Defaulted

Even if you find debt collectors calling you around the clock, it’s still not a good idea to seek the help of a debt relief company. Why? Often, these companies can make the situation worse, and you may wind up going through more people in order to find a solution to your problem. If you are being bothered by debt collectors and are worried about garnished wages and bad credit, the best thing you can do is to seek the help of an attorney.

At the Dellutri Law Group, it is our purpose to protect you from predatory companies. It is also our goal to help you get out of student loan debt quickly and effectively. We provide a free consultation, so please call us today if you are in need of help - and stay away from companies promising to fix your loan problems instantly.