Legal Question in Credit and Debt Law in Michigan
student loan settlement
I have a chronic, debilitating illness that interferes with my ability to work consistently.
This, in turn, interferes with my ability to consistently pay my student loan balance due, which is now in default status.
If I do secure from a qualified MD a diagnosis that confirms my ongoing illness & its impact on my ability to work, is it then possible for me to have my personal representative negotiate with MGA (the collection agency representing the US Dept. of Ed.) for a substantially discounted settlement of my outstanding student loan balance?
1 Answer from Attorneys
Re: student loan settlement
I always tell clients, if two persons can agree to it and it can be put into writing, then it can be done. There is no reason not to try as you suggest. Good luck!
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