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innvaderr · Posted: Wed Aug 27, 2008 5:46 pm Subject: called Direct Loans and...?

I just called Direct Loans and they were already closed, but the automated system said my loan was 'paid in full'. I know this is not the case as i have not paid them a penny (I was calling to get setup on the rehab program).

Does this mean they have sent my loan of $3000 off to a collection agency? If so, does that mean i can no longer do the rehab program?

Thanks everyone Question

Posted: Wed Aug 27, 2008 5:59 pm Subject:

When was the last time you contacted them. What type of loan is this?

innvaderr · Posted: Wed Aug 27, 2008 6:07 pm Subject:

I have never had contact with them. It is a student Direct Loan.

Thanks

innvaderr · Posted: Wed Aug 27, 2008 7:35 pm Subject:

I figured out by speaking to someone at the Department of Education that Premiere Credit of North America LLC has my loan. I called Premiere and the guy said that he could not find my loan with them and he would have to call me back tomorrow. I told him my loan was about $3000 and that I could afford $50/month and asked what he recommended, Rehab or Consolidation. He said i should consolidate and that it would get me out of 'default status' faster and they both will help my credit.

Question.. from what i have been reading on here, I have come to understand that Rehad is better. is this true? I want which ever option that is the quickest in impacting my credit report in a positive way!

Thanks!!

Posted: Thu Aug 28, 2008 7:13 am Subject:

Someone at the DOE was being lazy. Consolidation will NOT help your credit...it just leaves you with two negative tradelines. Rehab is always the way to go.

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