I have a very, very happy client right now, considering I saved her over $100,000 on a Navient student loan debt settlement. My client in California is in her early 30s, newly married and facing the fact that she owed in excess of $143,000 to Navient for her private student loan. She had stayed current with her payments to Navient, but thought that she would probably never be able to pay off the loan in her lifetime. So she called me for a free debt relief consultation to go over her options.
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Negotiate A Debt Settlement With Navient
After learning more about her situation, I recommended that she let me negotiate a debt settlement with Navient. A debt settlement becomes possible when a borrower becomes delinquent in payment on the debt. Their loan is then considered in “default”. Once that happens it’s time to negotiate with the lender. While anyone can negotiate a debt, it’s to the great benefit of the borrower to hire an experienced debt relief attorney with a proven track record of going up against a giant student loan lender like Navient. An attorney is held to a legal standard of ethics to act in the best of interest of their client, so a skilled debt relief attorney will negotiate the best debt settlement for their client.
Making the decision to start the debt settlement process involves allowing your private student loan to go into default, if it is not already. While purposefully letting your loan go into default can feel daunting, my client decided she was ready to take care of her student loans for good. She wanted a fresh start in life as she started her new marriage. During the course of our representation and with her loan in default, accruing interest caused her loans to skyrocket to $156,845.31. We received many threats from Navient, including threats that the debt would be “going to the next level” if she didn’t bring her account current. That “next level” turned out to be nothing more than another collection department within Navient. They eventually sent the accounts out to the law firm Weltman, Weinberg & Reis for further collections.
Navient Student Loan Debt Settlement
Once my client’s debt landed with this firm, we were able to negotiate a debt settlement for her. My client went from owing $156,845.31 in loans to just $50,019.73! We saved our client $106,825.58 on her private student loans, approximately 70% of the total amount due. We are thankful that our client had the courage to stick it out and had faith in our debt relief law firm to get her loans settled. The debt settlement process can be an intimidating experience, especially from such a colossal corporation like Navient who has a vast resource of collection agencies and attorneys working for them. Ignoring hollow threats from Navient proved to be a successful strategy. We are thrilled to reach such an amazing savings of over $100,000 in student loan debt for our client.
If you have debt relief questions about student loans or are in need of other debt help, contact me for a free debt consultation at 858-217-5051. Also, please visit our success story page for student loan debt settlement success stories to learn about people just like you who are now living a life free from debt.
Daniel R. Gamez, an attorney focusing exclusively in debt relief, is licensed to practice in all state and federal courts in California and Texas. Mr. Gamez owns and operates the Gamez Law Firm in San Diego, CA. For more information, please contact Daniel Gamez at 858-217-5051, daniel@gamezlawfirm.com or use our online contact form. Stay updated with the latest debt relief tips by following on Facebook and Twitter!