Private Law Firms Chasing Student Loan Debtors
June 23, 2017
The government is turning to private law firms to track down people who default on their student loans. The millions of defaulters created an opportunity for law firms that work for banks on things like credit card bills and foreclosures. The government has turned to debt collection lawyers when other efforts to collect have failed, and when they know the student has some asset, like a home, according to NPR. Many of those targeted took out their loans decades ago, and many are low-income or paid under the table.
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