An Job Interview With Matt Music Group, Ceo Of Docprepservicing.com

Within the last many years approximately percent of students graduating from four-year colleges had education loan debt. This represents around 1.3 million college students graduating with debt. You can find % of graduates from general public colleges who experienced loans having an average financial debt of over $,.

We had an opportunity to sit back with the dog owner, Matt Music group of DocPrepServicing.com which really is a new company that’s supporting graduates with outstanding education loan debt look for a better solution to get the stress off and obtain the assistance they need.

Reveal about your track record that lead around DocPrepServicing.com

I’m a university graduate myself- UCLA that’s. I have resided and experienced living as students burdened with pupil debt. There is really no-one I could use for assist and considered to myself what other folks are in exactly the same circumstance as me?

How did you produce this company and just why?

I heard about the brand new government education loan comfort applications which were released and We processed my very own loan consolidation and learned how I could spend less on a monthly basis. I figured that since i have did not find out about these applications- which have been out for over 4 yrs already- there has to be others in exactly the same circumstance. For this reason I developed Doc Prep Servicing- to greatly help facilitate the record preparations services to obtain candidates enrolled into these applications.

Is pupil debt a huge problem within the U.S.?

Student Debt is really a HUGE issue within the U.S. One in four Us citizens have it. There’s over 1.3 trillion bucks in outstanding pupil debt. That is more than personal credit card debt and 2nd to only home loan debt in the complete U.S.

So how exactly does it function to lower education loan payments?

You must make an application for the programs with the Section of Education, see what programs you be eligible for, prepare and submit the right application(s) and submit the right supplemental information. As soon as your loans are usually consolidated, you’ll then end up being placed into the qualified repayment program. The programs are usually based off loved ones size and revenue.

How will you assist with getting away from default?

When the applicant is within default and wages are increasingly being garnished, we immediately contact the collection agency and eliminate the wage garnishment. We after that workout an inexpensive rehabilitation intend to obtain the applicant back again to a current position and then location them on a fresh repayment plan they can pay for. This not merely stops income from getting garnished, but additionally assists restore and repair their credit history.

How will you prevent income garnishment?

We workout a rehabilitation program directly using the selection agency and assist get the candidates loans back to a current position. The rehabilitation plan will minimize the income garnishments and damaging effect on their credit history.

How will you consolidate individuals student loans?

We help prepare and submit the consolidation application for your applicant. We ensure that they’re enrolled in to the greatest program that will save them probably the most cash and also ensure that the required supplemental information can be included. Our work is not performed until the customer receives a fresh repayment plan and it is approved.

How will you offer options for the pay back plan and so how exactly does it work?

You can find multiple repayment plans available. With regards to the applicants finances, loan status, mortgage type and loved ones size, we find a very good program designed for each unique customers circumstances.

How will you assist with forgiveness on loan products?

We assess each candidates eligibility for just one of the numerous forgiveness programs accessible. These forgiveness applications include but aren’t limited by: Teacher Mortgage Forgiveness, Public Assistance Mortgage Forgiveness, and Complete Permanent Disability Mortgage Forgiveness.

Explain the Pay out WHILE YOU Earn option:

Payments are usually capped at % of one’s discretionary income having a optimum term of a few months. Any Remaining Stability by the end of your phrase will undoubtedly be forgiven.

Explain the typical Plan option:

You’ll pay a set payment until your loans are usually paid completely within years.

Explain the Earnings Based Pay back option:

Payments are usually capped at % of one’s discretionary income having a optimum term of a few months. Any Remaining Stability by the end of your phrase will undoubtedly be forgiven.

Explain the Graduate Strategy:

Payments start lower and boost every 24 months. Intended for debtors who expect their earnings to gradually grow as time passes.

Explain the Contingent Repayment option:

Payments are usually capped at % of one’s discretionary income having a optimum term of a few months. Any Remaining Stability by the end of your phrase will undoubtedly be forgiven.

Explain The Extended Strategy option:

Like the graduate pay back plan, nevertheless the phrase is extended to a few months.

Whats the hardest component where people don’t realize ways to get from under their education loan financial debt?

EDUCATION LOAN Debt is one particular things where individuals feel like it will eventually stick with them for the others of their day-to-day lives. It is among the just debts that not even obtain wiped out by way of a bankruptcy. The truth of the problem would be that the education loan servicers usually do not inform the general public concerning the government-backed applications that exist. Therefore there is absolutely no awareness about how exactly individuals with student loans will get help or around the applications open to them.

How long can it to evaluate a brand new prospective client to become listed on DocPrepServicing?

You’ll find out in as quickly as mins what program(s) you be eligible for.

How long can it try have someone join DocPrepServicing?

Once you subscribe with us at DocPrepServicing, it requires roughly times to approach your consolidation and repayment application! Our turnaround period has ended % quicker compared to the national average.

To find out more: contact -PREP or