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My Wife Signed Up With Student Loan Service.US and I’m Worried. – Michael

“Dear Steve,

I tweeted your account on twitter also. My wife and I have a good amount of student loan debt. She registered with a site she found online “studentloanservice.us” they are associated with “COASTALCREDITSOLUTIONS.COM” I cannot find any information about them. She gave them all of our banking information and they are set to charge our account on friday.

What steps can I take to see if they are a real company and what do I do if they are not?

Michael”

The Answer

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Dear Michael,

I’m not clear on what you mean by a real company.

My concern is twofold. First, I want to make sure you understand you can consolidate your federal student loans for free through the Department of Education website. You can also enroll the consolidated loan in a reduced payment plan for no charge as well.

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Second, I’d be interested in reviewing the client agreement for you from the terribly generic named Student Loan Service company that they sent you. You can upload it to me here.

You might want to read Student Loan Assistance Rescue Scams On the Rise – Buyer Beware and the article I wrote about Student Loan Service.

I would recommend that anyone considering using such a company should read the following fee guides.

  1. The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
  2. 10 Must Do Steps to Find the Best Credit Counseling or Debt Settlement Company for You
  3. How to Check Out a Business or Company to Avoid Getting Scammed or Ripped Off

Please post your responses and follow-up messages to me on this in the comments section below.

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More Articles About Student Loan Service

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • mallorie

    STUDENTLOANSERVICES.US ARE SCAM ARTISTS!!!! I just found out today which was not voiced to me correctly in the initial call that this “processing fee” they asked me to pay of $540 for my loans to be forgiven after 240 months is false. Also, I was told that I was eligible for $49 monthly payments or 240 months and as stated, all else will be forgiven due to the processing fee. HOWEVER, now I have been told they are a third party company (like filing your taxes with H&R Block versus online for free) and the $540 was an entrance fee to join their company, and the $49 a month is a service fee to “keep my loans as low as possible for 240 months, and at the moment my loans are $0.” See where the wording is tricky? I was never told the $49 a month was a service fee I was just told that was the payments I were eligible for. Since I thought we were talking strictly about my loans it was interpreted that these were for my loan payments. And of course, Reid Zalkin no longer works there So I’ve lost out on money to this company for absolutely no reason, and none of it has gone toward my loans. I was already eligible through Great Lakes for pay as you earn income, being $0 through my school. The confusion started when I sent a consolidation application through my school and I was told I would be contacted about payment plans in a few days. UNFORTUNATELY, STUDENT LOANS SERVICES WAS THE FIRST TO CONTACT ME, starting the confusion. The representative also, after explaining my “plan” exactly the way I stated here, advised me after his explanations to check all these boxes one after another on the contract I signed. Since I trusted his explanations, I checked the boxes and signed the contract. WATCH OUT FOR THEM!!!!!! Does anyone know what I can do about this? I’m going to reach out to several people tomorrow about this BS contract and company. I also have a witness and I know their calls are recorded.

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