archal

Hi Andy! Thanks for doing this AMA! I do have a few questions, which I think many of the users over at /r/studentloans would find useful as well...

• Are there any reliable and helpful student loan consolidation services?

-I'm afraid to look into it because of horror stories I've heard about getting dozens of hard pulls on your credit, your information being sold on, unwanted phone calls/solicitation etc etc....

• Is there any benefit to consolidating Federal and Private loans into a single loan from a 3rd party?

-I have Federal loans which I consolidated into a single loan, and Private Loans and a reliable job. All of my interest rates hover between 6-6.5% I'd rather pay them all off ASAP, to hell with quality of life.

• Can I consolidate if I have a negative report from defaulting on a student loan? How will this affect interest rates if I choose to consolidate? Will I be rejected?

-I have a good credit score (~720), but I have a bad mark from defaulting on a loan 3 years ago. I am in good standing with the defaulted loan servicer, and they said they can provide a letter stating I am in good standing, but cannot clear the mark on my credit.

• Is it possible to renegotiate with defaulted loan servicers?

-I defaulted on a loan and it went to a collector who charged 50% of the amount of the loan ON TOP of the value of the loan. I'd like to say, hey, you've made some money off of me so far, but come on, you don't need all that. ^{ya bastahds}

Thanks!!!

Does that count as malpractice? Did you receive any compensation?

Do people ever try to, you know, Yankee-doodle, try to pull the plug? By jumping in front of your tram while it's moving?