I Got Ripped Off Applying For The Student Loan Consolidation Program

Student Loan Consolidation Should Be Smooth
Graduating from college and getting on with your life is supposed to be a smooth transition. Thankfully, for a lot of graduates, it is.

Others find the transition becomes a wake a call for them to never reset on their laurels. Still, for others the transition becomes a very rude awakening.

A Case For Student Loan CSI?
Take the case of one graduate who wishes that his identity remain anonoymous due to the nature of the career field he as chosen. Robert graduated from college and everything seemed idea.

He landed a corporate gig, got a nice apartment and ended up with a sweet vehicle he found off of Craigslist. At that point life was sweet.

The only other major issue Robert had to address was his student loan debt.

He had a number of student loans and since they all had different lenders and different due dates, it made since to enroll in one of the Student Loan Consolidation Programs.

That way, Robert would end up with one payment to one lender at a fixed rate.

Fired up about thinking how reducing his total monthly payment amount will help his dramatically help his paycheck, the graduate came across a company that promised an instant no hassle loan approval.

The company boasted that your credit score, credit history was a moot point. They claimed they could get everyone a guaranteed super low interest rate.

The advertisement sounded so enticing, Robert signed up and paid the processing fees and waited for his loan approval and funding.

That day never came!

There was never any loan approval and never any funding.

Robert had fallen for one of the many “Student Loan Upfront Fee Scams.”

Sadly, with the sheer number of graduates, Student Loan Consolidation is an area ripe with fraud.

Corrupt men and women may seek to pounce on graduates attempting to consolidate student loans by advertising phony student loan consolidation packages that actually do not exist.

Just like the hucksters who advertise guaranteed mortgage approvals as long as one pays the advanced fees, the student loan consolidation frauds exists with one purpose in mind; to get your money and run!

Know this; when you have Federal student loans, there are no fees in any respect! You will never be required to pay any upfront fees to consolidate your student loans.

If a company or a person announces any type of fees to make the consolidation happen, that is your warning sign to gather your things and get going in the opposite direction. Do not deal with them! Do not proceed forward!

If you give them any funds to process a student loan consolidation, you can kiss those funds goodbye. If you provide them with any personal information such as your social security number, driver's license number or other credit card account information, you will likely become the next identity theft victim.

Remember; genuine student loan consolidation have absolutely no upfront fees.

Brad Matheson is a professional Financial Consultant who specializes in helping businesses and individuals resolve their debt issues. He believes that all debt problems can be solved with the right debt advice and aspires to help Americans learn all of their debt options and exercise all of their rights. Says, Matheson, “Don't allow the Student Loan Debt crisis or a Defaulted Student Loan to hinder or block your career aspirations or stymie your financial dreams, There is Student Loan Help available!”

Source: http://studentloanwhiz.com/