Jul 28, 2017 · 1 min read
Lack of education about options seems to be a big problem. Debt and debt collectors scare people. A lot of stories about overdue student loans and collections debt have appeared in The Billfold, among other places, and they almost inevitably say something like “I knew I couldn’t pay, so I just stopped opening the envelopes/ taking the calls/ etc.” These stories speak less of an unwillingness to pay than to a lack of understanding that a bit of paperwork, investigation of alternatives, and/ or engagement with loan company officials might result in a good outcome.
