| Student loan default consolidation loans is a kind of | | | | you and over time you will pay them back, the main |
| long and complicated financial term. What it basically | | | | advantage being that all your debts and paid off and |
| means when you default is that you have said and | | | | it is just one single payment monthly you have to |
| agreed and signed an agreement that says that you | | | | make which is much less stressful. |
| are going to pay so much on a certain date to a | | | | I loved it when I was paying one single payment per |
| company and you either did not have the money or | | | | month towards my loan consolidation debt. It got rid |
| did not pay it. The company then probably | | | | of nearly all of the paperwork and was way less |
| transferred or threatened to transfer your debt to a | | | | stressful. You just set it up via a direct debit with the |
| third party who will try and get the money from you. | | | | company and that is is then until the debt has been |
| Pretty stressful right. | | | | totally cleared. It is a great buzz when you set it up |
| An idea that many are undertaking nowadays is to | | | | and the peace of mind cannot be described. |
| consolidate their default loans. What this means is | | | | You also get a 2 month period at the start where |
| that instead of the student loan company passing on | | | | you have to pay nothing back which is great for |
| the debt to a third party, you contact a consolidation | | | | even less stress. Imagine 2 months without having to |
| company and they will pay off all of your debts for | | | | worry about debt once. |