Student loan debt may be the next financial bubble to burst. Average student loan debt as of 2012 has reached $30,000. This debt is spread across lending from the Federal Government and private lenders.
Private student loans are especially burdensome. They are often at a much higher interest rate than federal student loan debt. Furthermore, legislation is in place blocking private student loan debt from bankruptcy. Fortunately, most private student loans can be negotiated by a qualified debt settlement attorney. If you are worried about repaying a private student loan or other debts, contact a qualified debt settlement attorney immediately. A qualified attorney can likely work with the creditor and negotiate for a reduction in the principal balance owed on a private student loan. This will make repayment possible for the consumer and also give the creditor something rather than nothing. Private lenders are aggressive. Get qualified legal help when managing private student loans.
Author: Kevin Fallon McCarthy