Ameritech Financial to Borrowers: Delinquency is Avoidable in Any State

Ameritech Financial to Borrowers: Delinquency is Avoidable in Any State

Press Release (ePRNews.com) - ROHNERT PARK, Calif. - Feb 22, 2018 - Student loan delinquency rates reflect the borrower population that may be struggling with their loans. Being delinquent on student loans is a warning sign: borrowers who are delinquent risk defaulting, which is when their credit is severely affected and when wage garnishment can occur. According to data collected by the Federal Reserve Bank of New York, the national delinquency rate has increased 152 percent since 2007, and only two states have lower rates now than 10 years ago: Wyoming and Florida. Ameritech Financial, a document preparation company that helps borrowers apply for federal repayment plans, reminds borrowers that delinquency is always possible but not inevitable, regardless of the delinquency rates in their state.

The New York Fed report tracked severe delinquencies, meaning loans that were more than 90 days late. While most states experienced an increase in those rates, Florida and Wyoming rates decreased since 2007 by 11 percent and 3 percent respectively. In the past year alone Florida’s delinquency rates dropped 26 percent, begging the question “why?”

“Seeing data like this split up by state can either show borrowers that they are not alone in their struggles or make us all wonder how to decrease those delinquency rates across the board,” said Tom Knickerbocker, Executive Vice President of Ameritech Financial. “Fewer delinquencies mean fewer defaults and more financial stability for student loan borrowers.”

Fewer delinquencies mean fewer defaults and more financial stability for student loan borrowers.

Tom Knickerbocker

Executive Vice, President of Ameritech Financial

Many factors may cause borrowers to miss payments on their student loans, such as unexpected expenses, inadvertently missed deadlines, or banking or billing errors. However, it can be valuable to know what factors contribute to successful repayment so delinquency rates can decrease nationwide. While some people try to gather theories about why Floridians are paying their student loans more successfully than borrowers in other states, it could simply be a fluke.

However, the Department of Education offers several methods to avoid delinquency and default for federal student loan borrowers. For short-term solutions, borrowers can forebear or defer their loans, though they should remember that interest may still accrue during that time. For long-term solutions, borrowers can apply for income-driven repayment plans that base monthly payments on income and family size.

“We may never know why Florida’s delinquency rates have gone down so drastically,” said Knickerbocker. “But we believe that the data should not be seen as an isolated incident. Anyone can potentially avoid delinquency through income-driven repayment plans. At Ameritech Financial, we help borrowers struggling with their loan payments to do just that, by helping them apply for IDRs and stay enrolled year after year.”

About Ameritech Financial

Ameritech Financial is a private company located in Rohnert Park, California. Ameritech Financial has already helped thousands of consumers with financial analysis and student loan document preparation to apply for federal student loan repayment programs offered through the Department of Education.

Ameritech Financial 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).

Ameritech Financial prides itself on its exceptional Customer Service.

Contact

To learn more about Ameritech Financial, please contact:

Ameritech Financial

5789 State Farm Drive #265

Rohnert Park, CA 94928

1-800-792-8621

customer.service@ameritechfinancial.com

Source : Ameritech Financial
SHARE :  
Business Info :
Ameritech Financial

You may also like this  

Login

Or using ePRNews Account

Don't have an account ? Sign Up

Register New Account

Or Signup using Email

Already have an account ? Login

Reset Password

Already have an account ? Login

DISCLAIMER

If you have any concerns regarding this press release, please contact the Author / Media Contact / Business of this press release. ePRNews is not resposible for the accuracy of the news posted and do not endorse, support any product/ services/ business mentioned and hereby disclaims any content contained in this press release.