Attorney Todd J. Smith is a veteran of the student loan industry, and he’s got his hands on a collection of attorneys, including former federal prosecutor and current partner at Kagan & Hannon.
We caught up with him to learn how his firm can help student loan borrowers with their most pressing legal questions.
“I’m a lawyer for a company that helps people get rid of student loans.
It’s called the Attorneys’ Loan Repayment Program,” Smith told us.
“This is not a traditional loan.
This is a non-traditional loan that you can put down, it’s not like a credit card that you take out.
The problem is, it is a loan that is really easy to lose money on.
If you’re under 18, you’re not supposed to make payments on the loan until you’re 18, and you don’t have a chance to repay that money until after your 19th birthday.”
As a result, if you’re a student at an accredited college, you can’t take out a loan until after you graduate.
You can take out loans that are either interest-only or interest-based, depending on whether you are in college full-time or part-time.
If a borrower defaults on their loan, they may lose their entire payment.
“The Attorneys Loan Repays Program is designed to help borrowers who are under the age of 18 get back to making payments on their loans,” Smith said.
“If you default on a loan, it can cost you hundreds of thousands of dollars in interest.
You could end up having to pay the entire loan amount over a period of years.
If this happens, it means you can end up with a huge debt burden on your credit report.”
Smith also noted that while the Attaches loan repays program may help borrowers, it may also lead to higher costs to the company.
“It’s really not worth it.
It doesn’t give you any benefit other than making you appear like you’re going to make a repayment, and the company that’s going to pay that back, they’ll be paying interest, so the company may not get paid back,” he said.”
For most borrowers, the interest rates that are charged on the Attachers loan repayments are going to be higher than the interest that you’re paying on your regular loan,” he added.
“That’s a concern.
That’s something that is very real for borrowers.
If they’re in debt, the more you have to worry about, the higher the interest you’re putting on your loan.”
Smith is quick to point out that students who default on their student loans can still get their money back.
“They’re not allowed to go to court.
You need to prove that you’ve paid the loan off,” he told us, adding that the company will not charge interest on the interest-free repayment.
“So, you have your paperwork, you’ve got your proof that you have paid your loan off, and they’ll give you your money back.”
“The company that is going to do the loan is a company called Attaches.
It is a student loan servicer,” he continued.
“The Attaches will charge interest and penalties for non-payment of loans.”
If you want to learn more about the Attacher’s Loan Repaying Program, you should read our article about how to make sure you can get a refund.
In addition to Smith, our friends at Kagin & ; Hannon are also working on their own student loan program.
The company provides loans for students who attend accredited colleges, and Smith said that if you take advantage of their loan repayment program, you will likely save money as well.
“You can take the money you paid off on the student loans and put it in a savings account,” Smith explained.
“It’ll help you pay off the debt that you owe on the loans.”
He added that if your loan is not in your name, the company can help you make a tax-free tax refund for it.
“We’re a company,” Smith continued.
“[We] can help pay you back on your taxes and get you into a good tax bracket.
That way, you’ll be able to pay off your student loans.”
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