Ameritech Financial Assists Borrowers With Essential Step in IDR Process: Recertification

ROHNERT PARK, Calif., May 2, 2018 /PRNewswire/ -- Student loan debt has become a major problem, both nationally and on an individual basis. Whether borrowers leave the graduation stage with high debt or they fail to land a lucrative job — or both — they often have trouble paying down that debt. Many, however, find relief in federal income-driven repayment plans (IDRs). Ameritech Financial, a document preparation company that helps borrowers with application paperwork, reminds borrowers in IDRs that yearly recertification is necessary for continued enrollment in such programs.

"IDRs allow many borrowers to stay current on their student loans," said Tom Knickerbocker, executive vice president at Ameritech Financial. "To stay in those programs, borrowers must recertify their income and family size each year."

Because IDRs use income and family size information, which can change over time, the Department of Education requires borrowers to recertify that information each year. They do that so payments do not exceed a percentage of their income depending on the specific IDR they are in. If borrowers miss the recertification deadline, their loans may be reverted to the Standard Repayment plan, and borrowers with auto-pay setup may see a larger payment amount taken from their account than they are accustomed to.

Borrowers who experience a change in their income or family situation, such as a job loss or an addition to their family, can send in their recertification paperwork before their annual deadline to request a recalculation of their payment. Notably, if a borrower's income increases significantly, payments may also increase by staying in an IDR plan. So, it may make sense to go back into the Standard Repayment at that time.

Ameritech Financial is a private company that helps its clients with recertification paperwork when necessary. The company reaches out to clients in advance of their annual deadline to get the relevant documents for recertification, which can include tax documents or recent pay stubs for income and a statement describing family size, and assists with submission to their loan servicer.

"Recertifying is an essential part of the IDR process, and at Ameritech Financial, we make sure to be as involved in that process as we are with initial applications," said Knickerbocker. "We plan to be with our clients for the long haul, as long as they wish to remain in these federal programs."

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.

Each Ameritech Financial telephone representative 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
[email protected]

Related Links

Ameritech Financial home page

SOURCE Ameritech Financial

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED