Sallie Mae is a name very familiar to college students that use student loans to pay for obtaining a college degree. The company helps students and families understand the lending process of obtaining and paying for both federal student loans and private student loans.
Attorneys with expert knowledge of the Fair Debt Collection Practices Act (FDCPA) also know that Sallie Mae not only serves as a loan originator, the company also serves as a loan collector for private education loans. The company employees thousands of employees and holds billions of dollars in assets.
If you know Sallie Mae, than you might also be familiar with another company called Navient. Navient is a corporate spin off of Sallie Mae, and no other company services as many federal student loans as does Navient. They also collect debt for the United States Department of Education. Essentially, we are talking about more than just loan providers, these companies can also be considered as being student loans debt collection agencies.
The sole individual, possibly young and in their early to mid twenties, with massive student debt may be placed in a situation of being unable to pay for student loan repayment costs. When that happens, the young professional is simply out gunned by massive government darlings such as Salle Mae.
Student loan debtors should know that they do not have to fear student loan repayment. While paying for loans can be difficult, hiding from payment is never a wise option. There are many payment plans, some of which are based upon one’s income and number of dependents. Often times, the student loan debtor does not even have to talk to someone from Sallie Mae in order to receive a manageable payment option; the process can be completed online and hassle free.
Unfortunately for some people is that they are unemployed or under employed and they simply cannot make payment on their student loans. Opening the mailbox becomes an event marked by anxiety. Answering the phone becomes a thing of the past because so many collection calls come though the telephone lines.
Contacting an attorney knowledgeable in state and federal laws that which ensure fair debt collection practices can help. Know that student loan debtors must not be harassed by student loan debt collection agencies.
This means that collection calls must not occur before 8 am or after 9 pm. Profane language is forbidden and should not be directed at the debtor. Public shaming and or embarrassing the debtor at work is prohibited. If legal action cannot be made against the debtor, than the collection agency cannot threaten it.
Lastly, telling the student loan collection agency to stop calling and that you have obtained legal counsel will stop the harassment and could serve to gain the debtor relief.
If you or anyone you know has been subjected to an abusive, deceptive, or unfair debt collection effort by any business or firm, contact the Krohn & Moss, Ltd. Consumer Law Center for a FREE evaluation to learn how you can protect your rights and get your attorneys’ fees paid.