1. Dont ignore your debt. No matter you can pay or not, dont make your lenders come looking for you. Because it will be bad news for you. Remember this general guideline, and you will automatically save yourself a ton of grief. Always making sure that your lender has your correct address and phone number. If your lender tries to contact with you, and cannot find you. They will hire collector who will track you down, and thats nobodys fault but yours. If you cannot pay it right now, suck up your courage, and call your lender, and say so. We believe that if you cannot say something nice, you shouldnt say anything at all. Thats wrong, especially on your student loans. Lenders always hear problems from students, especially in the first couple of years after you graduate. Do not worry; lenders are more than prepared to work with you for a considerable among of time for your loans.

2. If theres anything you do not understand, ask! Your question can ever be stupid. You will always have the first experience of everything. It is not important when the voice from another side of the phone gets impatient with you. It is important that you understand all the facts, so you can look out for your own best interests.

3. Keep organized records. Number one rule in everything. The paper work between you and your loan provider is your only defense when anything goes wrong in process. Lenders are human; they make mistakes all the time. When they mixed up your account with someone else, they might decide to charge your extra couple of thousands just for fun. Unless you have got the paperwork to prove your point, otherwise its going to cost your money. Its that simple. Make sure that you know whom you are talking over the phone. If you cannot, dont worry. Most company has phone records of your entire conversation. Make sure to contact with the company to obtain your record.

4. When you make a special deal of any kind with a loan provider, write up your understanding of agreement, sent it to the provider, and check to see that its in your file. You cannot reply on any customer service representative for seeing for problem ahead of time. Dont matter if they are smart or stupid, courteous or rude, they are just as overworked as you are. If they happened to make a mistake, it will just happen, nothing can stop it. So, your method to protect yourself is to record any letters. Make a note regarding this deal, and call back after one or two weeks to see if everything is all right.

5. Remember that the default clock keeps ticking against you, even if you are in a dispute with your lenders. Even if they have made a mistake at your expense. It doesnt seem right, but thats the way it is. You cant just say, that you are not paying until everything is clear. That wont hurt your lender, but it will hurt you. Hes going to be paid anyway, whether by you or by the federal government, so he couldnt care less about you and your little attitude. You, on the other hand, will wind up owing extra interest, and you will eventually have to knuckle under anyway.