How to negotiate your student loans in default ...

The consequences of the failure of a student loan can be overwhelming. ... .Yes, if you are not the payments you promised, the consequences can be severe. ... .After the Legal Services Web site, after a period between 180 and 330 days, depending on the type of loan you have borrowed and the rate when you make your payment believes the Ministry of Education, if you default. You. .Honor not to pay your obligation. ... .However, it is possible to negotiate a plan.Difficulty Rehabilitation: ChallengingInstructionsThings you will need: documents1Compile financial budget. ... .Add all your monthly expenses such as rent, food, utilities, and personal care. ... .As a financial expert Erica Sandberg says you need this information to determine exactly how much you pay monthly basis.2Contact collection agency. ... .Tell them how much you pay monthly. ... .As Sandberg also said, let them know that you, your rights to rehabilitation loan, which the right to negotiate a payment plan to your loan default status again, of course. ... .Tell them that it is a plan that describes what they want to organize as "reasonable and affordable." 3Propose cope with a monthly payment you can. ... .As I said Sandberg, the collection agency seems stiff and stubborn at first, and they can ask you a U.S. Department of Education as evidence of financial difficulty finished, but in the end they will accept. Plan.4Detail your your plan. .Writing. ... .As I said Sandberg, you have to attach supporting documents such as payroll, rent statements and copies of other bills that you owe. ... .Treat this as a legal document, you must enter out.5Read the fine print in an agreement that the collection agency. ... .As Sandberg says, make sure that you understand all conditions before signing.6Pay the amount agreed to and the collection agency. ... .After paying regularly for nine months, as noted by Sandberg, you can heal, or at the end, your default status, including the rehabilitation of your loan, known ....