Student loan debt ballooned to more than $1.3 trillion in 2017, more than two-and-a-half times the total student loan debt 10 years ago. Debt servicing is a lucrative business, but many services aren’t acting in borrowers’ best interests.
We are now investigating potential class-action claims against several student-loan servicers, each of whom are pushing borrowers into loan forbearance rather than offering graduated repayment plans, many times without ever informing borrowers of a graduated-repayment option, which helps pay down principal. Forbearance, on the other hand, generates higher interest payments and fees for the servicing company, but it is not always in borrowers’ best interests.
Are you saddled with student loan debt? Have you been pushed into forbearance? Have you been denied a graduated repayment plan? Or, worse yet, never offered such a plan? You may be entitled to compensation. We can help. Call us today for your free consultation.