I am in the process of Rehabilitation of a student
I am in the process of Rehabilitation of a student loan, They are charging collection fee of 18.5%
This seems high, I just talked to them (GC services)
They said that upon rehabilitation, then my balance will be reduced closer to original debt when they received it of about $23,000, now about $41,000, THEN the collection fee of 18.5 %
will be added to balance and then once loan is purchased, i will be charged the current market interest rate(which is about 4%)
dont know what will be in a year, i have made 2 payments..... is this true?????
I must admit I am a little confused