You can find out how to get out of default and not let your current consequences of default ruin your financial future.
My loan amount is held by ED. what happens when the debt collector gets involved?
If your loan is placed with a collection agency, you will be responsible for costs incurred by your loan holder to get payment. These costs amount to 17.92% of your loan amount if your loan is held by ED. Other loan holders may charge a different amount.
Yes, of course. Now I have to inquire about Direct Consolidation Loan. After defaulted loans have been merged, what comes next?