student loan collection fees
Date: Thu, 05/20/2010 - 18:00
student loan collection fees
I have been reading the posts and I totally get it about the collection fees that are charged to your account once you default and its turned over to a CA. If they continue to move the loan from one CA to another, do you get NEW collection fees added each time? Also, does the interest accure on them forever? I am asking for my sister, who has been in default on her loans for a couple of years now.
Cindy in Seattle.
Cindy in Seattle.
Collection fees are charged once by the guarantor. They do incr
Collection fees are charged once by the guarantor. They do increase as the balance gets larger and are recalculated each time the loan is placed with a new CA.
Interest continues to acrue until the last penny is paid. Accrued interest is capitalized into the balance I think each quarter so you end up paying interest on interest.
