When students are faced with either paying off their loans or lose their credit standing, they’re liable to take the quickest job available, but not the best job available, which can often take longer. Suffering from massive debt, many students look to relief programs to get them under control. There are programs student loan debtors can take advantage of to reduce their burden. Unfortunately, there are also unscrupulous agencies looking to take advantage of people who want a quick fix to their problems.
The clip we chose today is from a newscast that investigated fraudulent collection agencies targeting holders of student loans. It’s a short clip, but filled with great information on avoiding any of the traps set up by dishonest collectors. If you owe money on your student loan, and are stressed out about it, this 2 minute and 30 second clip is well worth your time. For more information on your rights as a debtor. Check out The Fair Debt Collections Act.