Collection Firm in Michigan Helps Private Student Loan Lenders

Are you a private lender for student loans?

Are students who graduated failing to repay their loans?

With the government giving recent grads every opportunity to delay repaying back their student loans, it can be confusing to know which loans need to be paid back, and how soon.

Collection methods available to private student loan lenders are different from the federal student loan lenders, so it’s important to read your contract. As a private lender, you cannot start collection activity unless your debtor is in default. Every loan contract is different, so it’s important to read the fine print! However, common causes for default may include:

•    Borrower didn’t make their payment on time.
•    Borrower filed for bankruptcy.
•    Borrower is insolvent.

Don’t let the stress of trying to contact and get results from a debtor weigh you down any longer! Let our collection company in Michigan do the hard work for you. Contact our attorneys today at 248-645-2440 for a resolution to your collection matters.