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mrsmaintenance · #1 02-21-2007, 05:46 PM

So my student loans have been in default for a while. They have collected our 2005 tax return for over $3K. We have not yet filed for 2006. Some chick from PCR called me 10 minutes ago and wanted to talk to me about my student loans. I told her that our tax refund would take care of it. She said, "How do you know that?" I said, "Because it did last year." She then tried to tell me that payment was not posted last year. I said, "Well, where did my tax refund go?" and she said she didn't know. I said, "Well, they took my entire tax refund last year, and I know my balance should only be around a thousand dollars." She then quoted my balance which was $1150 and I said, "Exactly! They took payment last year! I did owe over $3000!" She then said "Well let me check" and put me on "hold". Then she came back on and pulled a figure totally out of her butt of $2000 that she said was paid last year. And then she tried to get me to give her money. I said, "I'm going to let my tax refund take care of it." Then she told me that I shouldn't do that, because they wouldn't take the entire balance of my debt. She said I would continue to be in default. I said, "My debt is only $1150, and we're supposed to be getting back over $2000 with Earned Income credit, and you're telling me they won't pay it all off?" And she said, "No, they won't. You'll continue to be in default." I said, "So what you're telling me is, they'll continue to divide this debt up for infinity, until the balance gets down to one dollar, and then they'll just take 50 cents?" She said, "Well I don't know how all that works." I ended the conversation by saying I wasn't going to mess around talking to her at 8:30 at night...she started to give me the standard spiel "This is an attempt to collect a debt..." and I cut her off and I said, "Yeah, yeah, I know, blah blah blah, goodbye" and hung up. The point of this post is to ask
1) They can NOT keep me in default for infinity, right? That has got to be complete BS
and
2) Why, if my loan is in default, and they are guaranteed to receive payment via my tax return, do they feel the need to keep calling me and harrassing me about it?

If you are still reading this long vent, thanks...any advice for dealing with these clowns would be most appreciated.

SOAPLADY · #2 02-21-2007, 05:59 PM

Your loan would have been submitted to the IRS around the beginning of December, MINUS collection fees. Your interest is accruing daily until the day the funds arrive at the guarantor. Even if you filed today it could take until June for your account at the guarantor to be credited. Plus they charge you $20-$25 service charge for seizing your taxes. The guarantors do not update the IRS after submission so thus you will have a balance left on the account.

With a refusal to pay, the CA will start seeking out your employment for garnishment.

cajunbulldog · #3 02-21-2007, 06:01 PM

You spoke to a collector and wanted truth! :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: :shock: If you wish to know the true status of your loan,contact the department of education. :mrgreen: :mrgreen: :mrgreen: :mrgreen:

mrsmaintenance · #4 02-21-2007, 06:02 PM

Would you recommend setting up a payment schedule with them? FWIW I am a homemaker - can they garnish my husband's wages?

By saying that they do not update the IRS does that mean that the IRS will sieze our tax refunds indefinitely?

SOAPLADY · #5 02-21-2007, 07:45 PM

Quote:

Would you recommend setting up a payment schedule with them? FWIW I am a homemaker - can they garnish my husband's wages?

By saying that they do not update the IRS does that mean that the IRS will sieze our tax refunds indefinitely?

No they cannot garnish your husbands wage since you do not work.

Each the guarantors submit a new list to the IRS for that tax year. However they send a lien in for what you owe on a specific date....say you owe $1500 December 1st. $1500 is all they take, even though by the time your money actually gets to the guarantor and posted to your account, you may owe $1600. I had many a case when I was collecting that people would call in yelling and screaming that taxes were taken the year before and they got a refund. They forget about the interest and the fees.

mrsmaintenance · #6 02-21-2007, 08:07 PM

Ah, OK, that makes sense. So eventually I just might have to make a final payment of $100 or so just to get them to leave me alone. :roll:

#7 09-24-2008, 09:14 AM

I would like to know exactly how much I owe Sallie Mae including fees and interest. PCR called to offer a rehab program that sounds good. I want to confirm that they are a legitimate company as well. Who can I contact?

SOAPLADY · #8 09-24-2008, 12:03 PM

You dont owe Sallie Mae anything. You have defaulted on a federal loan and your guarantor has paid Sallie Mae off and hired the PCR to collect it. PCR can supply you with the information as to who you owe and how much.

#9 10-27-2009, 08:05 AM

I have been seing this name and number on my caller ID for a while but no message was left. Today I was home to answer the call. The lady on the other end was immediately rude and overbearing. She was yelling and sounded unprofessional from the start of the conversation.
She claimed to have spoke with me before as well as, my bf and roommate. I know for a fact that this was a lie since they never use my private phone or answer it. This lady had also contacted a neighbor and said I left their name as a contact number. This was also an out right lie. These people sound like a scam. Does anyone know how to report them?
I should go buy a recorder because i think this justifies harrassment!
Caller ID: 973 602 3549
Caller: PCR
Caller Type: Collection Agency