I have a 2500 dollar student loan I defaulted on and the purchasing collection agency tacked on another thousand... How do they come up with these numbers? Is it a percentage? Is there a limit? Any help will be invaluable...
You would have to dispute it on how they come up with the tack on fee,s.On a student loan this will not go away!Their like bulldogs.
Yes, they are legal, and the limits will depend upon the state in which you reside. However, $1,000 bucks in additional fees, court costs, and interest does not sound uncommon. As JJ said, they do need to explain to you exactly how the fees were determined, and they will typically NOT settle the account for less than the principal balance of the student loan.
Plus so many people don't understand that big tax return they get well hello uncle sam or the sheriff shows up at work to garnish your wages,or that house or car you want.So you need to settle and try to settle for them to delete!
