Quick Answer: Student Loan Relief (studentloanrelief.us) may be legitimate but borrowers can reduce federal student loan payments directly through the Department of Education for free without giving power of attorney to third-party companies. The couple should use official government resources to address their defaulted federal loan rather than paying fees to intermediaries.
“Dear Steve,
My wife has defaulted on a student loan (federal). We just received a first call from a collection agency. (Performant Recovery Inc.) They stated we have 48 hours to supply them with all bank statements for 2012 and fill out a very personal form. We are not making enough money to pay this off. We have two children (4 and 6) Our older boy has Down Syndrome.
I eventually landed onto a website from a company in Dallas TX. Student Loan Relief (studentloanrelief.us) I gave some basic information to a loan counselor (our annual income, the size of debt, days defaulted). He said he can have the Dept of Education take on our debt as we have a “huge hardship” due to family size, low annual income, etc..)
Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
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We will speak to him today to get more information. He mentioned he will have forms for us to fill. And that we will give this company power of attorney.
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Is Student Loan Relief Incorporated (Studentloanrelief.us) a legitimate business? Is it appropriate to give them POWER OF ATTORNEY to have them set up the DOE to pay our loan. A 25 year term under a “huge hardship” status? Please advise!
Thank you.
Andrew”
Dear Andrew,
The term “legitimate” is always a wide open term.
What I can share with you are my guides on how to check out a company so you can make your own determination. And my guide on how to deal with your student loan debts.
You can reduce your payment directly through the Department of Education for free.
Read The Ultimate Guide to Dealing With Student Loans You Can’t Afford. I review all the available programs and give links to get them going. Again, all the help is free.
I would recommend that anyone considering using such a company should read the following fee guides.
- The Ultimate Consumer Guide to Checking Out a Debt Relief Company Before You Sign On the Line
- 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.
Before You Sign Anything: Run any debt relief contract through the free Contract Decoder to spot hidden fees and unfair terms. Check the company’s complaint history with the Scam-O-Meter.
Compare Your Real Options: Most debt relief companies won’t tell you about all your options — especially the ones they can’t profit from. Credit counseling has a 21-27% completion rate. Settlement resolves about 1% of enrolled debts fully. Bankruptcy has a 95% discharge rate — and protects your retirement. Take the Find Your Path quiz for a recommendation based on your actual numbers.
