My private student loan has recently defaulted. Collections agency is threatening lawsuit and I simply cannot afford their payment demands.
I found a student loan debt negotiator that I pay a flat fee of $1500 to resolve this defaulted loan and keep it from going to litigation.
Can anyone advise me on whether this is a good idea to go with?
I'll have to hire a lawyer, anyways since it will probably go to court.
Is this a typical price to pay to make amends on repayment of this loan?
The company is accredited and in good rating with the Better Business Bureau but very vague on what they will do for me EXACTLY before I pay this fee for "further questions can be answered".
I just want to find a way to make payments on this loan and not have to go to court with extra fees to do that.
What are the disadvantages, if any, at this point?

