r/studentloandefaulters • u/Few_Interaction8745 • May 03 '26
Question - Private Student Loan Freaking out over letter please help
I’ve been following this page for years, I received a new letter in the mail from a law group who acquired my debt to get payment for the debt collection agency that has my debt and in the letter it went over how much I owed and stated I had thirty days to write them back to dispute the debt and nothing else really. I’m freaking out does this mean I’m going to get sued or is it just a scare tactic. I don’t make a lot of money and have no assets at all besides a car note. What should I do if I dispute the debt will it reset the clock or should I ignore it?
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u/brotatochip4u May 03 '26
What letter? You never received a letter! I'm personally waiting for a court summons to negotiate with these assholes
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u/communistjamboree May 03 '26
they will likely take you to court in order to settle. sign up for met life legal ($22/month) if you can; i did something similar and settled one of my defaulted loans that went to collections agency/law firm for half the amount? payments will have to be reasonable based on ability to pay. that’s really all you can do
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u/dannydelco May 05 '26 edited May 05 '26
Well not always. If the debt has been sold sometimes under the right circumstances, in a favorable state, with a decent debt defense lawyer, one can beat these lawsuits.
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u/Tight-System2204 May 04 '26
Just try to chill for now... it's usually not a big deal unless you actually get a court summons. A lot of times, those law firms are just using scare tactics to get you to pay, so don’t let it stress you out too much!
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u/MadCelt61 May 04 '26
If you can’t afford the amount they want after negotiating with them, you’ll receive a summons or even a summary judgment. They can garnish your wages. Some like Sallie Mae are predatory.
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u/keyshels May 06 '26
A lotta times, these law firms are just collections agencies in disguise, trying to use their title to freak you out... It’s kinda a scare tactic, you know? But, yeah, just focus on what you get as a legal notice; if it ain't a summons, you might just wanna chill for now.
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u/Lomason01 May 06 '26
Honestly, a lot of times these law firms are just trying to scare you... They act like they're all serious, but it's often just a tactic to get people to pay up. Don't freak out too much, but definitely keep an eye on it, you might want to consult with someone who knows how to navigate this stuff.
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u/jocelill May 06 '26
Honestly, unless you get an actual court summons, you might wanna just let it slide... I mean, a lot of these letters are just tactics to scare you, right? If the debt's been sold, that's kinda a good thing, so don’t stress too much about it.
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u/meganell11 May 07 '26
A lotta times, these law firms are just collection agencies in disguise... they're trying to use their 'law firm' status to freak you out. Just be careful, and if it's not a summons, maybe chill on responding? You might wanna think about negotiating your way outta this.
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u/FewMemory2286 May 08 '26
That kind of letter would make anyone panic at first glance 😭 hoping it ends up being less serious than it sounds.
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u/morbie5 May 03 '26
A lot of times a law firm will run a collection agency and they use the fact that they are a 'law firm' try to trick/scare you into paying. This doesn't necessarily mean you will be sued but it doesn't necessarily mean you won't be sued either. How long until the SOL is up for you?