We just witnessed a financial meltdown in the month of September.  We saw banks and companies that has been in business over 100+ years go down because of the mortgage crises.  The crises bigger than the mortgage or real estate industry… the whole system is falling apart… and THINGS WILL GET WORSE!

Today was even more draining for me at the office… one of my team members who is the BEST collector just collected on a single parent mom in New York.  She had a student loan that is over 5+ years old… NEVER seen her tax returns and was ready to get garnished.

I hopped on the call after my Best Collector (who I’ve trained for the last 3 years) hit her with $2,000 down payment and a monthly payment plan for $349.  As you can imagine… times are tough and he told the single mother of two (a 6 year and 9 year old) to NOT buy presents and to handle her “obligations”.  I stayed firm like always… and waited for her to give me her credit card as she was crying….  now the card is maxed out…

The part that sucks is this… the minimum payment was only $67 dollars on this balance…

I CANNOT take this any more… and that is why I am on a crusade to help these folks. The cost of education is rising everyday. Student loan debt will become a financial epidemic in these next upcoming years, at this rate student loan debt will surpass credit card debt in no time! At the moment, everyone is primarily focused on the banking and housing crises. Unfortunately, the current financial crisis is blinding everyone from the fact that the student loan industry is following in Freddie and Fannie’s footsteps. Let’s try to stop this epidemic before it snowballs out of control and becomes the next financial bubble. I want to become part of the solution for this country… not the problem.

So the journey beings…

Mr. Kay
Rouge Student Loan Collector