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#33
09-19-2009, 07:19 PM
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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?
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#34
09-29-2009, 12:50 PM
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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?
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#35
09-29-2009, 01:00 PM
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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.
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#36
11-04-2009, 01:38 PM
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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.
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#37
11-18-2009, 10:14 PM
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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!!!
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#38
11-19-2009, 09:43 AM
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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.
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