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The truth about Private Student Loans Help
First and most importantly Private Student Loans Help is meant only for consumers or businesses who have a legitimate financial hardship. A financial hardship is simply when you have experienced an event such as an injury, loss of job, divorce or medical issue which has made it impossible for you to make your monthly minimum payments without sacrificing your basic needs like, food, rent or transportation.
In these financial hardship situations bankruptcy is most often the course taken. Unfortunately, in bankruptcy unsecured creditors like credit card companies will likely not recover a cent of what is due to them, and you the consumer will ruin your credit worthiness for years. Remember that employers, renters and many services ask if you have EVER filed for bankruptcy, thus although it may not be reported after 10 years, it can have a reach far longer.