Professor Elam

Accounting & Investing Info for San Antonio A & M

recent posts

about

Debt Collectors Cash in n On Student Loans

Monday Sept 10 2012

Debt Collectors see the trillion dollar student loan debt as a bonanza. I noticed many of you chose to write on my blog posts on re thinking college and or the student loan debt.  I have also speculated that the next cousin to the sub prime mortgage crisis will be a student loan crisis.

Frankly If I were the young lad in the phot in the article I believe I would avoide such photos and would simply not have a phone number. It is clear reading the article that the govt is doing the same thing to students it once did to delinquent IRS taxpayers, driving them into the underground economy, cash only.

The government finally relented on taxes coming up with an Agreement In Compromise. It lets a taxpayer pay whatever and then start fresh.

Hmm how will the student loan crisis play out?

Posted in

2 responses to “Debt Collectors Cash in n On Student Loans”

  1. C Kingsley Avatar
    C Kingsley

    I agree that student loans present a real problem, however I would not discount the commercial market issues as well. I do think that there is a way to stave off the fiscal cliff. Small business can save the economy. Small business’s spend money like drunk sailors on shore leave. The trick of course is how to get money to those small business’s. 1st Frank Dodd just about killed any hope that small business can look to banks for money (not going to happen, right now BOA would rather lose money by sitting on it then take the slightest risk). 2nd The government for some bizzar reason keeps trying to get banks to take some risk and gain all the profits, when the government and banks should either be partners equally (according to the risk banks are willing to take on. Example if BOA wants zero risk then they get zero reward) or they should have their own individual programs seperate from each other. And the easiest stimulus program we could put into place is brining the troops home so that money spent on keeping them abroad is instead spent right here.

    Like

    Reply
  2. Mikael Mönkäre Avatar
    Mikael Mönkäre

    Student loan is been a very huge issue now a days because of interest but i heard that most of the debt collector are not yet having difficulties for collecting debt,in Finland country debt collector are very professional and i think that is their secret on solving debt collection problems.

    Like

    Reply

Leave a comment