Settling the Account
Settling your loan is another way to get your defaulted student loan out of default. If you are unable to repay the full balance owed on your defaulted loan, the holder of your loan may allow you to settle the account in full for less than the full balance owed. A settlement does not necessarily have to be paid with a single payment – our client may allow you to settle your account through multiple installment payments.
Please keep in mind that our client has to approve any settlement offer you make. Every loan holder has its own guidelines.
If you are interested in settling your account, give us a call. We will be happy to talk to you about your loan holder’s settlement requirements.
We understand that for many borrowers settling a defaulted student loan is not possible. That is why we offer alternative repayment options.