Hi, I was hoping to get some advice about what I should ask for as a settlement with one lump sum payment on my student loans. They are from a private company, and have been in default for almost 2 years.
08/10/2006 PLP00
$279.47 08/17/2005 PLP00
$5,433.69 06/06/2005 PLP00
$1,679.46 09/22/2004 FEDERAL STAFFORD LOAN
$0.00 09/07/2004 PLP00
$6,944.74
Total $14,337.36
Total with interest and other charges: $15,339.03
The stafford loan is ~$2900, but not included in any of those totals.
The one federal stafford loan was given to an outside collection agency for collection, is there any way to get them to recall that loan if I were to pay all at once?
Debt Samaritan
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Credits: 288914.20596421 Send message to SOAPLADY
Ok...is this multiple loans?? Where are you getting these numbers?? NSLDS???
You will need to set with the collection agencies....they are authorized to settle. However settlements with student loans are not the same as other consumer debt...as a general rule, they will only settle on part to all of the collection fees. And you will receive a 1099
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
Posts: 6
Credits: 206.45 Send message to stark6935
Yes they are multiple loans over the years. What would be a good % to ask off of the loans as a whole? Also, what is a 1099?
Posts: 6
Credits: 206.45 Send message to stark6935
Sorry to double post but I can't edit my response. I got the numbers from the private loan lender's site under my account. Thanks again.
Debt Samaritan
Posts: 16537
Credits: 288914.20596421 Send message to SOAPLADY
Are these in fact private loans?? Sallie Mae still holds many federal loans.
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
Posts: 6
Credits: 206.45 Send message to stark6935
They are from iowastudentloan dot org. I think they were private loans anyway.
Debt Samaritan
Posts: 16537
Credits: 288914.20596421 Send message to SOAPLADY
Ok...you need to log into http://www.nslds.ed.gov/ to find out where your loans are. When you default, salliemae would have filed claim with your guarantor. Since FFELP loans are a thing of the past, I am not sure if that guarantor even exists anymore. The DOE may be handling it.
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
Posts: 6
Credits: 206.45 Send message to stark6935
What do you mean salliemae? As far as I know I have no loans through them.
Posts: 6
Credits: 206.45 Send message to stark6935
I've used that site to look up who has my loans, and I have some from direct loans, but the ones from iowastudentloan.org were given to me originally from iowastudentloan.org.
Posts: 6
Credits: 206.45 Send message to stark6935
Sorry I keep posting new posts, but I just looked more into it and it does say "private loan program" under the details of all the loans but the stafford one that they sent to their collection agents. Hopefully this is enough info for you to help me. Thanks.
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