by KR
(Portland, OR, USA)
I am ashamed to say that I have an outstanding student loan from the 80's. My federal tax refunds have gone toward paying this debt over the years, but the principal on this loan has gone from $700 in 2000 to $3450 as of last year. The debt has been transferred to several collectors over the years, but it seems they have added penalties and interest to the principal. I broached the subject with the last collector I talked to and he ignored it. I asked him for the records of how the principal had been added and nothing came of it. Can they do that?
Comments for collection company has added to principal amount on student loan
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