With student loan debts in staggering defaults due to the poor economy and tough job market, more loan servicers are making aggressive attempts to collect on student loan accounts. Student Loan Law Group warns borrowers and co-signers of their rights when facing loan servicers. The Fair Debt Collection Practices Act prohibits collection practices that have been deemed abusive. Most student loan borrowers have not studied the act in depth and do not realize when their rights are being violated.
When a student loan borrower’s or a student loan co-signer’s rights are violated, the loan servicer who has committed the violation may be fined a $1,000.00 penalty. Courts may order the servicers to pay the penalties directly to the borrower or co-signer whose rights were violated. Additionally, a court may order a loan servicer who has committed FDCPA violations to reimburse the borrower for any attorneys’ fees and costs.
Borrowers and co-signers who believe they are being abused or harassed by loan servicers when attempting to collect on student loan debts are encouraged to contact Student Loan Law Group today to learn more about their rights and how to protect those rights. Student Loan Law Group consists of attorneys who have painstakingly studied student loan laws and debtors’ rights laws. More information about borrowers’ rights and the legal services that Student Loan Law Group offers are available at www.studentloanlawgroup.com or by calling (888) 843-1706 today.