Released: October 11, 2009

When student loans hit collection agencies

Source: Liz Pulliam Weston, Los Angeles Times (Free Registration)

Dear Liz: I’m in default on my student loans.

I don’t know how many there are, I don’t know who owns them, and I don’t know how to start paying them off. I’ve had a debt-collection agency threaten to cut my throat and to hurt me in other physical ways if I didn’t pay.

I’ve talked to the Department of Education, which doesn’t seem to know who owns the loans because the secondary lenders have since turned all the debt over to collection agencies.

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