Consumer Complaints and Reviews
My grandson got a student loan. They needed a co-signer. My mistake. He failed. Made no payments. Contacted Square one. Sallie Mae made offers. Square One kept telling me not to pay which is what I wanted to do. It has been written off. At 73 I have lost my credit that was almost 800. Now 343. Dishonest company. No action. Just a monthly bills to them.
Barbara FriedbergPersonal Finance Contributing Editor
Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.
More about Barbara→
Square One Resolutions is a niche player in the debt management field. The firm gathers the client’s student loan information and additional details and works with attorneys and lenders to resolve the underlying debt. They have a variety of programs designed for the individual’s specific situation.
- Services: Private student loan protection, school closure services and Federal loan challenge repayment options.
- Support: Online or phone support available.
- Fees: The company’s transparent fee structure includes a payment plan that fits consumers’ budgets.
- Private loans: The company targets for-profit schools to hold them accountable and challenge the debt of their former students.
- School closure services: Square one helps former students of now closed private educational schools interact with the Department of Education to reduce and possibly forgive the individual’s qualifying Direct federal loans.
- Federal repayment challenge: Square One helps students petition the department of Education and seek loan forgiveness under a specific provision of the Direct Loan promissory note called the “defense to repayment” if they believe the school’s federal loan actions were in violation of the law.
- Best for Former students of private institutions of higher education with excessive student loan debt.
Question and Answers - Square One Resolutions
What problem is Square One Resolutions trying to solve?
- Too many people who attended a for-profit school have debts that they cannot afford and that they should not be even asked to pay. Yet, collectors seeking payments on for-profit school debt do not stop, even though the schools made promises that they could not keep. Our company seeks to challenge the ability for a collector to even ask for more money and reduce the student’s payments structure and overall debt burden.
What sets Square One Resolutions apart from the competition?
- Some companies consolidate student loan debt. Some companies engage the collectors directly to settle student loan debt. Square One Resolutions gathers student information, and through collaborations with consultants and attorneys, directly challenges lenders and collectors in their abilities to collect at all. Square One Resolutions charges for these services, locking in an interest-free payment plan that saves students upwards of 60% over the life of the original loans they entered into.
What needs does Square One Resolutions fulfill, and how do you fulfill those needs better than your competition?
- Many former students of for-profit colleges in America have been sold a worthless degree at a premium cost. In seeking to better themselves and their families, they entered into crippling student loan agreements, added no real value to their resumes and then were forced to fall back into the same low-paying jobs they had before entering school. Our company is the only company in the country that will accept a significantly lower payment from the student and promise them that that payment is all they will ever pay. And they won’t pay the lender. It is new. It is innovative. And it can be scary to new consumers. But we are undaunted. This system of over-lending, of promises of jobs that never existed must be challenged. It must end. And we will be here.
How does Square One Resolutions measure success?
- Client satisfaction. Period. We seek this through the forced cancellation of underlying debt through the collection of client information, school and lending experience.
What’s the most common misconception consumers have about your industry?
- Consumers do not trust the promises made by companies in this industry. Unfortunately, there will always be bad actors, taking advantage of those that are just looking for help with their payments. We stand by our promises and make guarantees that the only fees paid by the consumer to us are the only fees they will pay in the entire life of the loan from the school or lender. No payments to the lender. No payments to the school. No payments to lawyers or to courts. No exceptions. Ever.
How has your industry changed in the last 5 to 10 years?
- This industry has changed by constantly innovating to match the increasingly-aggressive tactics of the debt collection industry. Square One’s flagship program, Private Student Loan Protection, is a perfect example of this innovation. It focuses on challenging the collector’s right to collect a debt that was most likely based on false promises within the for-profit college lending space.
What is something you wish every consumer knew about Square One Resolutions?
- Square One Resolutions is on the cutting edge of the challenge-end of the industry and that we take our role in helping consumers reduce their overall payments structure very seriously.
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Square One Resolutions Company Profile
- Company Name:
- Square One Resolutions