Why haven't I heard of this before?
Mike Gates, the President, CEO and founder of MEGS Associates Inc has been successfully offering this service for nearly four years to his existing financial services clients in the Houston, TX area. MEGS Associates only began expanding to go nation-wide in 2007. There are a few other third party entities around the nation, such as attorney firms, that have helped people get their student loans discharged, but only MEGS Associates has discovered and developed this program that can help people who previously have been told they could not get their loans canceled. Nearly fifteen years ago when the Credit Card Consolidation and Credit Counseling industry was in its infancy, many people were able to get their credit card debt discharged as well before legislation eventually became revised (now it is still a booming industry even though people just get their debt negotiated down and consolidated). Many people were skeptical of that service then as well.

Is this legitimate and legal?
Yes. MEGS Associates Inc Corporate Headquarters are located in Houston (Spring), TX, and has never received a complaint or been charged with wrongdoing because it operates strictly within the law! Please see the About Us page for more background information. Although currently still undergoing the review process to become a member of the Greater Houston Better Business Bureau, the BBB reports on local companies if they have complaints regardless of whether or not they are members. While the BBB does not have all of its information up to date concerning MEGS Associates and its restructure into a corporate entity, you may go to the BBB site to verify that we have not had any complaints or problems here.

Why doesn't my loan's  lender or governmental agencies like the US Department of Education state that this is possible?
The last thing lenders want is to lose money, and they are a powerful lobbying industry who spend millions of dollars influencing governmental agencies and what they tell people. However, when it comes down to it, they must obey the laws and rules that have been established over time, and it is these little known laws and the loopholes they create that MEGS Associates have learned to use to your advantage! Actually, the US Dept of ED does state that under certain circumstances you can get your student loan canceled or forgiven, but there are even more circumstances than what they make common knowledge, and MEGS Associates have become experts in all of them!

If I use your service, will it harm my credit?
Absolutely not! We assure our clients in writing that nothing will cause them or their credit harm as a result of our service on their behalf. If your student loan is discharged, every trace of it will be removed from all three major Credit Reporting Agencies (Experian, TransUnion, and Equifax). No further collection action can ever be initiated for that loan again!

How do I get a refund of my loan payments?
Because the loan has been discharged on one of several possible various grounds that MEGS Associates has argued on your behalf, the entire loan must be canceled which entitles you to a refund of any payments you have made. Most of our clients receive a check from the lender with the refund amount in about two weeks after the loan has been discharged.

How long does this take?
Most situations take two to three months, but some have taken as much as ten months. This is why we ask for a twelve month period in order to represent you successfully. Many times the first request and submission of documents we make on your behalf are denied, and a second or third round of filing the proper forms with the proper authorities, filing appeals, and negotiating must be attempted before we achieve success.

What happens if you cannot get my loan discharged?
If after twelve months our efforts have not achieved your satisfaction, meaning either a full discharge of the student loan or other results you agree with , such as a settlement negotiated which leaves you with substantially less of a loan balance, payment, or interest for example, then we will refund our entire service fee of $399!

What are the various laws and rulings that allow for this to be possible?
The process discovered, developed and copyrighted by MEGS Associates that entails its established process of method is proprietary information that is not divulged without a non-disclosure agreement in place. In other words, it took a lot of effort and time to figure out how to do this and we do not wish to educate other companies and create competition for ourselves. Think of it as enjoying a coca cola drink. You don't have to know the secret recipe to benefit from and enjoy the product.

What if I have a private loan or a non- US Guaranteed Student Loan?
We may still be able to help you, but likely the best possible scenario is a negotiated settlement that may reduce your interest rate or minimum payment amount. We will review each scenario on a case by case basis to determine if we can help at all.

Is this bankruptcy or related to bankruptcy?
No, the process of method we employ has nothing to do with bankruptcy or bankruptcy law and will not result in any derogatory reports appearing on your credit report.

Why do you have different URLs? (www.studentloanterminator.org and www.helpwithbadstudentloans.com)?
We actually have more than two, but all searches arrive at this same website. As with any company, when using a website to attract potential business, search engine optimization is a very important aspect of success, and by utilizing multiple URLs we are able to become visible to more people which will in turn lead us to helping more people like yourself, most of whom had no idea that this was an option for them. When first starting out, we specialized in helping people with defaulted or otherwise "bad" student loans, but having grown our unique service beyond that, we felt a slightly shorter and more encompassing URL like studentloanterminator make better sense.