Doc Prep Servicing Handles Student Debt For You

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The past several years approximately 71 percent of students graduating from four-year colleges had student loan debt. This represents approximately 1.3 million students graduating with debt. There are 66 percent of graduates from public colleges who had loans with an average debt of over $25,000.

Doc Prep Servicing is a new company that is helping graduates with outstanding student loan debt find a better way to take the pressure off and get the help they need.

Tell us about your background that lead up to Doc Prep Servicing

I am a college graduate myself- UCLA that is. I have lived and experienced life as a student burdened with student debt. There was really no one I could turn to for help and thought to myself how many other people are in the same situation as me?

How did you come up with this company and why?

I heard about the new government student loan relief programs that were released and I processed my own consolidation and learned how I can save money every month. I figured that since I did not know about these programs- that have been out for over 4 years already- there must be others in the same situation. This is why I created Doc Prep Servicing- to help facilitate the document preparations services to get applicants enrolled into these programs.

Is student debt a big problem in the U.S.?

Student Debt is a HUGE problem in the U.S. One in four Americans have it. There is over 1.3 trillion dollars in outstanding student debt. This is more than credit card debt and second to only home mortgage debt in the entire U.S.

How does it work to lower student loan payments?

You must apply for the programs through the Department of Education, see what programs you qualify for, prepare and submit the correct application(s) and submit the correct supplemental information. Once your loans are consolidated, you will then be placed into your qualified repayment plan. The programs are based off family size and income.

How do you help with getting out of default?

If the applicant is in default and wages are being garnished, we immediately contact the collection agency and put a stop to the wage garnishment. We then workout an affordable rehabilitation plan to get the applicant back to a current status and then place them on a new repayment plan that they can afford. This not only stops wages from being garnished, but also helps restore and rebuild their credit score.

How do you prevent wage garnishment?

We work out a rehabilitation plan directly with the collection agency and help get the applicants loans back into a current status. The rehabilitation program will stop the wage garnishments and negative impact on their credit score.

How do you consolidate people’s student loans?

We help prepare and submit the consolidation application for the applicant. We make sure that they are enrolled into the best program that saves them the most money and also make sure that the necessary supplemental information is also included. Our job is not done until the client receives a new repayment plan and is approved.

How do you offer choices for the repayment plan and how does it work?

There are multiple repayment plans available. Depending on the applicant’s financial situation, loan status, loan type and family size, we find the best program available for each unique client’s circumstances.

How do you help with forgiveness on loans?

We assess each applicant’s eligibility for one of the many forgiveness programs available. These forgiveness programs include but are not limited to: Teacher Loan Forgiveness, Public Service Loan Forgiveness, and Total Permanent Disability Loan Forgiveness.

Explain the Pay As You Earn option:

Payments are capped at 10 percent of your discretionary income with a maximum term of 240 months. Any Remaining Balance at the end of your term will be forgiven.

Explain the Standard Plan option:

You’ll pay a fixed monthly payment until your loans are paid in full within 10 years.

Explain the Income Based Repayment option:

Payments are capped at 15 percent of your discretionary income with a maximum term of 300 months. Any Remaining Balance at the end of your term will be forgiven.

Explain the Graduate Plan:

Payments start low and increase every 2 years. Intended for borrowers who expect their income to steadily grow over time.

Explain the Contingent Repayment option:

Payments are capped at 20 percent of your discretionary income with a maximum term of 300 months. Any Remaining Balance at the end of your term will be forgiven.

Explain The Extended Plan option:

Similar to the graduate repayment plan, however the term is extended to 300 months.

What’s the hardest part where people do not understand how to get out

from under their student loan debt?

Student Loan Debt is one of those things where people feel like it will stay with them for the rest of their lives. It is one of the only debts that do not even get wiped out through a bankruptcy. The reality of the situation is that the student loan servicers do NOT inform the public about the government-backed programs that are available. Therefore there is no awareness about how people with student loans can get help or about the programs available to them.

How long does it to evaluate a new prospective client to join Doc Prep Servicing

You can find out in as quickly as 15 minutes what program(s) you qualify for.

How long does it take to have someone join Doc Prep Servicing

Once you sign up with us here at Doc Prep Servicing, it takes roughly 30-60 days to process your consolidation and repayment application! Our turnaround time is over 30% quicker than the national average.

For more information: call 888 887-PREP or www.DocPrepServicing.com