EMERYVILLE, Calif., Jan. 8, 2018 /PRNewswire/ — Are you planning to move soon? Americans are actually moving much less than they used to a few decades ago, but they still remain some of the most mobile people on the planet. While a good number do stay in the town they grew up in, others who leave home do so mainly because of economic opportunities. American Financial Benefits Center, a document preparation company that assists federal student loan borrowers in applying for and maintaining enrollment in repayment plans, urges its clients who are moving to keep their student loans in mind when making their change of address calls.
“We want to make sure our clients don’t slip through the cracks and miss important deadlines,” said Sara Molina, Manager at AFBC. “Keeping your information up to date could make a huge difference.”
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Though it can be hard to leave a community behind, the push to move can happen for a variety of reasons. While many leave their current homes for work opportunities, others do so for their preferred climate, a lower cost of living, or to join a relative who has also made a move. Some may just want to start afresh. No matter the reason, borrowers who move and do not notify their student loan servicer risk missing important communications. This might include monthly statements, changes in servicing practices, or notification about yearly recertification. In a similar vein, AFBC clients should let AFBC know if a change of address has occurred. This way requests for important documents, for example, do not get lost in the mix.
For those who have opted for paperless communication and who do their student loan business online or over the phone, a virtual move can be just as significant as a physical one. Borrowers might change their email address or phone number to ward off spam, bolster their privacy, or because of a physical move. For borrowers who change their email address or phone number, immediately notifying their servicer is not only prudent but necessary. In the case of AFBC, having an accurate phone number and email address is also key to communicating when action is needed for a client to stay enrolled in a repayment plan.
Borrowers who are struggling may not be too keen on their servicer knowing where they are. AFBC clients should not feel that aversion. Any AFBC clients having trouble with their payments should contact AFBC and see if an application for a new repayment plan is needed. Meanwhile, borrowers of federal loans who are experiencing difficulty with payments should not avoid their servicer, because unauthorized non-payment will only result in delinquency and default. There is no statute of limitations on federal student loans, and no court approval is required to garnish wages to collect on federal loans. Avoiding any issues will likely bring them back in greater force.
“We definitely urge our clients to keep everyone who’s involved in their federal student loans up to date when it comes to moving,” said Molina. “If we can’t contact you, we can’t help you out with your loans. That goes for servicers, too.”
About American Financial Benefits Center
American Financial Benefits Center is a document preparation company that helps clients apply for federal repayment plans that fit their personal financial and student loan situation. They adhere to strict customer service guidelines and strive for the highest levels of honesty and integrity.
AFBC is a member of the Association for Student Loan Relief (AFSLR), and each representative on the phone has received the Certified Student Loan Professional certification through the International Association of Professional Debt Arbitrators (IAPDA).
To learn more about American Financial Benefits Center, please contact:
American Financial Benefits Center
1900 Powell Street #600
Emeryville, CA 94608
SOURCE American Financial Benefits Center
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