My husband has almost $150,000 in debt and Navient wanted us to pay over $1500 a month. I signed up with Edapt today and we will only have to pay $336 a month, but I am now worried it is too good to be true and is some sort of scam. Anyone have any input?
@vlochridge, welcome to NerdWallet. No specific knowledge around Edapt, but it’s entirely possible that the company consolidated your loans and entered you into an income-driven repayment plan. Depending on your income, it could reduce your payments dramatically.
You might check your paperwork to see if that’s the case.
We warn people against these student debt-relief offers because they charge fees to do things you – or your husband – could do on your own for free.
Yes! She did say exactly that…consolidated your loans and entered you into an income-driven repayment plan.
Welcome, @vlochridge! Here’s some additional info on income-driven repayment that you might be interested in:
Paying less isn’t too good to be true, but the trade-off is that you’ll likely pay more overall.
Like @des said, debt relief companies often charge fees for their services, and THAT is a cost you definitely can avoid.