As the years continued I had contact with people across the nation, and I experienced almost every single scenario possible. While working at the student loan servicing center I would witness the most bazaar scenarios imaginable. I have seen practically-homeless, minimum wage parents scrape up monthly payments, while well nourished businessmen earning 6-figures, evade their student loan obligations. All of these outcomes meant only one thing to me, it meant I had an opportunity, an opportunity to bag these negligent student loan abusers. As a veteran collector now made Supervisor, I took over phone calls playing a “good-cop role” every single day. After speaking with a collector (“bad-cop”), it was my job to hop on the phone, listen to the borrower’s stories, and repeat what the collector mentioned in a different fashion. I took over numerous calls every day and enjoyed doing so.

I cannot reveal the identity of this next character so I will refer to him Mr. Lump-sum Chump. He was an executive director at a large company, and was tracked down because of his defaulted student loan. After he was contacted by one of my collectors, he refused to continue his conversation with the collector so I had to step in and take over the call. After speaking to Mr. Lump-sum I realized that he was stuck in a pickle. He was knee high in this student loan trap and was steadily sinking. I‘ll make this story brief. When Mr. Lump-Sum’s account was assigned to our company he was on a leave of absence, and since he had no income, there was nothing available to garnish. When his leave of absence ended, he went back to work, and returned to a garnishment order. Being highly aware that he was about to lose his financial freedom, Mr. Lump-sum probably panicked, which could’ve caused him to make piss-poor decisions. When he caught wind of the garnishment, he lashed out with a surprising counter-move. Mr. Lump-sum thought he was sneaky; he quit his job and tried working for another company, never returning our phone calls in the meantime, until the next incident happened.

If quitting his job wasn’t bad enough, this next incident made perfect sense on why he finally decided to call back. Mr. Lump-sum called back because he had no other option but to call back. Apparently the next company he tried working for ran his credit, and denied him of his new position because of his outstanding student loan obligation. Now his only option was to go back to the garnishment at his previous place of employment. When a man gets cornered and is left with no options, he will come to a realization that he can no longer run from his obligations. Since Mr. Lump-sum’s predicament worked in my favor, I went forward and only offered him an option for a settlement compromise. Basically, I forced him to make a lump sum payoff. Mr. Lump-sum’s balance was a little over $20,000 and the Dept. of Education would have accepted a settlement compromise for $16,000. Instead I demanded him to pay $19,000.

All of a sudden things get very interesting when a debtor needs my assistance more than I need theirs. If Mr. Lump-sum used his precious energy doing research on student loan solutions, he could have walked away saving thousands of dollars. – Mr Kay

Instead he not only ignored, but attempted to evade his student loan obligation, and wasted his time looking for a new job without knowing what kind of obstacles were ahead of him. Mr. Lump-sum decided to place a credit card on file, and my day continued knowing that I won this mini-battle.

Other than this one thing, there is nothing else positive about having a federal student loan in collection. This one thing is, knowing a settlement compromise (partial pay-off) exists and is available. Borrowers save the most money in the long run if they are able to settle out their student loan balance, and settlement compromises are only available for student loan holders if they are in default, but knowing that you have paid the least amount possible for the compromised settlement is the ultimate liberation. It is depressing to know that our nation’s people do not do their homework, considering this is something that they should have already grown accustomed to.

Leave me a comment below.

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

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Why should you listen to me?

Why am I releasing this information?

Dangers of Defaulting on a Federal Student Loan

Learn WHY you should NOT default on a federal student loan… and the DANGER of federal student loan default.

Consequences of a Defaulted Federal Student Loan:

1. Administer Federal Wage Garnishments – YES, the government will come take your hard earned pay check!
   
2. Negative Credit Reporting to all major bureaus – YES, your credit will be destroyed and you will pay ridiculously high interest rates on EVERYTHING!
   
3. Refer your loan to Department of Justice for Litigation - YES, you will be sued.  Imagine the legal cost and fees being tacked onto your loan balance.
4. Ineligible for additional student loans – YES, you will not be able to get any other assistance for school.  If you have kids that will be going to college… you will NOT be able to help them out.
   
5. Ineligible for FHA and VA loans – YES, you will not be able to take out government loans to help you buy a home.
6. Withhold Professional Licenses! – YES, they can take your professional licenses… I have personally seen attorneys, doctors, chiropractors, dentists, insurance agents, and Real Estate Agents lose their licenses.

Watch this VIDEO NOW!

**The exact percentage varies from 24%-24.34% depending on the loan type, so I rounded the figure up to 25% just to get the point across**

MR. KAY’S NOTES:  Payments after default are ONLY applied to Interest & Penalties… this means… if your payment DOES NOT COVER the interest and cost of penalties… your loan balance will NEVER GO DOWN.  It will grow surely and steadily.

If you have any further question – leave a comment!  I’ll answer them here so every one can benefit.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

The Confessions of a Student Loan Collectors – Visit: www.FreeStudentLoanStuff.com to get the most shocking truth about defaulted student loans.

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Why should you listen to me?

Why am I releasing this information?

How to get your defaulted student loan questions…

Watch this video below….

Do you have a Federal Student Loan that is in Default? Get your questions answered… learn how to gain knowledge on student loan wage garnishments.
Learn how to stop your student loan wage garnishment…
Do you have questions about your Defaulted federal student loan?

Ask me any questions by emailing them DIRECTLY to me… I’ll answer them personally.

Email: mr.kay@strategicdebtcoach.com

Mr. K.
Rouge Student Loan Collector

Get My Free Report “Confessions of a Rogue Student Loan Collector” at
www.FreeStudentLoanStuff.com