Roger : Hi - my name is XXXXX XXXXX I'm a litigation attorney. Thanks for your question. I'm sorry for your trouble with this, but I'll be glad to assist.
Roger : Student loan companies are very difficult to negotiate with because these loans generally aren't dischargeable in bankruptcy, and can't be avoided.
Roger : The only way even a bankruptcy would allow the student loans to be discharged would be if you could prove that paying the loan back is a hardship and prevents you from providing basics - such as food, clothing and shelter.
Roger : That said, an attorney can't make the lender compromise the claim, but he/she could negotiate on your behalf.
Roger : However, you may be able to do just as good on your own.
Roger : Also, you don't have to get the loans transferred over to you in order to pay. Since, you guaranteed the loans, you can make payments without any negotiating.
Customer: I'm not looking to "not" pay the loans back. I'm wondering if it is possible to get the loans back down to the original amounts so I'm not paying all the other fees that that were added on. This would at least help me out a little.
Roger : Sure, I understand that.
Roger : The bankruptcy reference was just to illustrate that it's hard to negotiate with student loan creditors because they know there's no way to get around the debt.
Roger : Basically, there's no bargaining power UNLESS you could offer a lump sum payment to settle the entire debt.
Customer: Thanks for your help
Roger : Sure. Glad to help. I wish there were some leverage out there that would allow you to force the lender into settling on a lesser amount, but there's just not. The best you can offer is consistent payments if they'll forgive the late fees, etc.
Roger : But, it's totally up to the lender as to whether or not it will agree.