The first day after you miss a student loan payment, your loan becomes past due, or delinquent. Your loan account maintains this status until you repay the outstanding amount or make other arrangements, such as deferment or forbearance, or changing repayment plans.
If your loan status remains delinquent for 90 days or more, your loan servicer will report the delinquency to the three major national credit bureaus. If you continue to be delinquent, your loan can risk going into default. You also risk losing eligibility for additional federal student aid.
If you have missed one or more student loan payments, and your loan servicer has sent you a delinquency notice, there can be serious consequences if your loan is 270 days past due and goes into default including:
-Seizure of your IRS tax refund
-Denial of additional student financial aid
-Penalties and interest fees
-Hefty Collection fees
-Seizure of social security benefits
SDM is a national student loan services company that assist borrowers in conquering their student loan and credit encumbrances. We have been in business since 2009.
Our student loan professionals will get to know you and the circumstances of your situation; including your lenders ,employment and financial obligations. Next, we will gather information on loan status, balances and payment history, so we can identify the best solution for you.
Once we have analyzed your situation. We will go to work. Reach Outvnow!