Sallie mae not consolidating loans

Settlement offers I’ve seen have been in the 45%-50% range with up to two years to pay.

But, and this is a big but, they only seem to do this for people who are significantly past due on the loan.

What is the best way to go about this and what questions should I ask in order to get a settlement?

There are exceptions: Sallie Mae’s “Smart Option Student Loan,” launched in 2009, forgives loans when students die.This is because the general collections and the initial delinquent collections departments just don’t have the authority to enter into such agreements.The settlement offers seems to come from the pre-charge-off department when loans are more than 120 days past due. You will have to risk going significantly past due and hope they continue to offer the settlements.I’m not encouraging you to go past due, just telling you what reality is.This is more of a general creditor process failure than anything else.

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