FAQ
Frequently Asked Questions
Southwood Financial is a secondary creditor of private student loans. Lenders often sell defaulted loans due to nonpayment so they can focus on new and current loans. If Southwood Financial is shown as the current creditor, then we hold the account. Please contact us with any further questions about your specific account.
If the debt does not belong to you, we may be contacting you if you were a cosigner on the original student loan. Cosigning a loan means you agreed to be responsible for the debt in the case of borrower default. Please contact us if you don’t remember cosigning a loan so we can look into the details of the account and provide clarifying information as it pertains to the account in question.
If you believe you were the victim of fraud or identity theft, please submit a dispute using the form on our Borrower page and include this ID Theft form with details for our records. You should also review the information provided by the Consumer Financial Protection Bureau about what to do in the case of identity theft.
Sometimes lenders sell defaulted loans so they can focus their efforts on new and current loans rather than on collection activity. Don’t stress; our team has been in business for a long time and wants to work with you to reach an amicable solution for your account. Southwood Financial is a reputable leader in private student loan collections accounts and we are an RMAI Certified Receivables Business.
Southwood Financial is a reputable leader in private student loan collections accounts and we are an RMAI Certified Receivables Business.
Southwood Financial works only with private student loans. Any accounts in our care are private, not federal.
Please contact the collection agency or law firm handling your account. If you are unsure of who is handling your account, please email us at info@swfin.com.
Please contact us at info@swfin.com to request a payoff statement. Settlement payments can be sent to the collection agency or law firm handling the account. If you are unsure of who is handling your account, please email us at info@swfin.com. Please do not mail cash. Be sure to include the account number and account holder name with your check or money order.
If Southwood Financial is the current creditor for your loan, that means your lender has sold the loan to us and we are the current owners of the account. To address the default status of your loan, please contact us directly to discuss payment or settlement options.
Have more questions?
Leave us your info and we’ll reach out promptly.
