Reported 4 days ago
Student loan debt settlement allows borrowers to pay off their loans for less than what they owe if their loans are in default. Although it can provide relief, it can also negatively impact your credit score. To negotiate a settlement, gather documentation of your financial hardship, understand your options, and be prepared to make a lump-sum payment. Settling is often better suited for borrowers facing collection actions or legal challenges. However, alternatives like deferment and refinancing should be explored first.
Source: YAHOO