Repeated or continuous phone calls made to harass, oppress, or abuse you are prohibited under the Fair Debt Collection Practices Act. Here is what the Consumer Financial Protection Bureau says you can do: verify the debt, dispute it if it is wrong, get any agreement in writing, and file a complaint with the CFPB.
The Consumer Financial Protection Bureau reports that the Federal Trade Commission has found some organizations offering debt management plans have defrauded people. Here is how to tell a reputable credit counseling organization from a debt relief scam, how to verify a debt management company before sending money, and what Colorado borrowers should do next.
Before you hand a credit counseling agency any information or money, ask a specific set of questions about services, fees, counselor qualifications, employee pay, and written agreements. The Consumer Financial Protection Bureau publishes this exact checklist, and the answers quickly separate reputable credit counseling organizations from the companies you should avoid.
Federal Direct Loans come in four types — Direct Subsidized, Direct Unsubsidized, Direct PLUS, and Direct Consolidation Loans. We break down who each loan serves, how interest works, and why your student loans matter later when you buy a home in Colorado Springs.
A federal Direct Loan is a student loan made directly by the U.S. Department of Education. This guide breaks down the four types — Subsidized, Unsubsidized, PLUS, and Consolidation — who each one is for, how repayment works, and why these loans matter when Colorado borrowers later apply for a mortgage.
The Income Contingent Repayment (ICR) plan is the most broadly available income driven repayment option: any borrower with an eligible federal student loan can use it. Here is who qualifies, how Parent PLUS borrowers get in through consolidation, and how ICR compares to the other income driven repayment plans.
Income-Based Repayment (IBR) is not a set-it-and-forget-it program. Your monthly payment adjusts every year based on income and family size, and you must send documentation to your loan servicer annually to remain enrolled. This guide walks through the annual process, who it applies to, how IBR fits alongside other income-driven repayment plans, and why it matters for Colorado borrowers planning a home purchase.
Enrolling in an income-driven repayment plan can lower monthly payments on federal student loans based on income and family size. Here is the step-by-step process, which plans exist, who qualifies, and why it matters for Colorado Springs borrowers planning a home purchase.
Public Service Loan Forgiveness requires you to certify your employment with a PSLF form. You can submit that form electronically through the Department of Education's PSLF Help Tool or complete a manual paper version with your employer. This guide walks through both submission paths and who they apply to.
Wondering whether your job counts toward Public Service Loan Forgiveness? The Department of Education's PSLF Help Tool includes a built-in Employer Database that checks your employer for you, prepopulates the PSLF form, and lets you submit it electronically. Here is how the tools work and how to use them.