Please Help with DCS said I need $3,000 in 2 days!!

I am assuming you are talking a federal loan?? Aint gonna happen. You agreed to all interest, fees and collection cost applicable by law when you signed the prom note. You do realize they can garnish you wages without taking you to court? And your social security?

You gave them all the info they need to call your husbands employer and hack into your bank accounts. Even the federal government loan people shouldn't be calling your husbands work. How does getting someone fired from work - help these people get any money? Obama can bail out citibank - who just wasted the money - but he can't help the citizens of these country during this time?

Please...get off the political agenda.

As a former student loan collector, we were required by our clients to obtain all financial information for the entire family unit. We would loose the account if we did not.

The government has made the Direct Loan Program available to those with current loans and those in default. You can consolidate and get an income contingent repayment plan based on the entire family income.

stand firm with them, make some kind of counter offer (usually 5% down) then the balance over 24 months and you should be able to get them to settle. they try to scare you but if you call them back within the time frame they ask you to after the initial offer, you should be able to get them to cave. they had me terrified but i stood firm and made it clear i wanted to make arrangements but that was the most i could do.
mine was on a past due tuition bill not a loan though. good luck. don't let them scare you.

Has anyone had any luck settling with this company without a "good faith payment"? I want to and am more than willing to make monthy payments in the range they specify, but I am absolutely unable to save up enough for larger sums they are asking for first even in the next 30 days. I was absolutely infuriated to hear that I have 30 days to dispute the loan rather than the 2 they claimed I had and I will be very upset (understatement) if I have to go into wage garnishment. As far as I was aware, my loans were in forebearance but now I find out that the ownership of my loan has changed (again) and that no longer applies.

ANY and ALL advice will be useful!!!

There is a big difference between forebearance and default. With federal loans, your guarantor pays a claim. This sometimes happens with private loans too. If you apply for forebearance, you must qualify for it and your lender/servicer will confirm that it has been granted. Sometimes this takes some follow up. Now that you are in default, you are no longr eligible for deferment or forebearnace.

Why would you dispute the loan? Student loans can be easily very verified and DV'ing can actually cause a garnishment to start quicker or even a lawsuit started.....you are telling the CA basically that you plan on being difficult.

Ask for rehab....there is nothing in the Higher Education Act that requires that you make a down payment....sure they can ask but they cannot demand.

what is the SOL on private student loans?

I got a thing from these DCS people and they are threatening me that they are going to garnish my wages even though she wouldn't deny the fact that since I do not have a full time job and my husband is not working and is also not collecting unemployment they say that they can take the 15% of my check which would be taking my whole check due to not working full time which for me is less than 22 hours a week. I dont even bring in more than 800 per month. What should I do? or What is she suppose to be doing? She says I can make 50 dollar payments a month and she wants it to start now, but I dont have that kind of money since I am working. I asked if she could just take what I owe out of my federal taxes and she denied that she can even do that when a letter they sent of a Warning Note said something about taking it out of my federal return.

Input Needed NOW!

They would not be taking your whole check...only 15% which would be $120 per month. It really doesnt matter if you work part time, your wages are garnishable. To avoid garnishment you MUST enter into voluntary repayment. If they have sent you the pre garnishment 30 day notice, you must respond within that 30 days.

If you are not in repayment, your taxes will be taken. Taxes being taken are not considered being in repayment but a federal seizure. They can still garnish you and take your taxes. Did the CA send a warning notice on behalf of the guarantor or was the letter directly from your guarantor?

Sounds like the collector was doing exactly what she was suppose to be doing.

so your saying that even though she only brings home before taxes 120 they still can take it i don't think so that is a crock of grap

As long as they earn over$675 per month they can be garnished. She can avoid it by entering voluntary repayment.

Well as I see it right now I had my employer calculate up how much I am currently earning right now and i bring in about 550 a month, which is stupid of course that is why im telling you they can not garnish my wages. Honestly, as my dad would put it....I can not afford 50 a month, but I can afford 25 as long as i dont buy diapers, wipes, formula, etc... if they say that they can't take that low amount screw them because that is their problem then... On another note, I can just do what my mother stated... just not work period... lol as usually haven't been off maternity leave that long in the first place. Guess that is what I will have to do... go figure. Why don't they just take out of my OWF (ohio works first cash assistance that I am getting. On another note again. I did fax a Economic Hardship form the Great Lakes, as the site said even though my loan is at a creditor to go ahead and send it there, because that does state on there that they can not and will not take my wages if i am not full time and full time it said by federal standards is getting 30 hours per week and i only get less than 22 hours a week and i am considered part time. So this is bullshit. This government is going down hill and going down hill fast.

I also agree with dustin because he is my husband and as im seeing it i only bring home about 550 or maybe even less so NO THEY CAN'T GARNISH MY WAGES!

Soap Lady Soap Lady Soap Lady. I neeeeeedd your help. I have two private loans totaling 53,000. I just started a new job and can pay the outrageous 600 a month dcs is asking. Both of the loans are private. can I rehab Them? do I qualify for that 50 a month thing I keep hearing them talk about on this thread? I agreed to give 4,000 down payment. Can I get it lower. What can I do? Please Soap Lady! help me!

Private loans do not qualify for any rehab program since they are not federally backed. For $53k, $600 per month is actually pretty low.

Why don't you go directly to your lender of the loan to pay them and not deal with dcs. My dealings with them are scam.