SLRO

Hello,

I am in need of some advise. I have many loans in default and are due for garishment. The collectors want 900 a month for 36 months for a 31K loans. I can not afford this, but it my only option to stop garishment. I obtain SLRO services out of frustration and not knowing what else to do. I tried settling my account on my own but I can not afford this monthly repayment amount. I have 3 days to cancel SLRO and recieve my full refund. What can I do. The collector is CBE for Edfund.

SLRO is a waste of time...period. You owe $31K. Rehab would be $310 per month for 9 months or as stated under the Higher Education Act "reasonable and affordable" payments based on your income. Your loan would come out of default and would then be current. If CBE refuses you reasonable and affordable payments, you have grounds to file a complaint with the Student Loan Ombudsman and they will intervene for you. You must specifically ask for rehab and use the phrase "I am entitled to reasonable and affordable payments under the HEA."

OR..simply consolidate yor loan with the Direct Loan Program thru the US Depatment of Education. Since you are in default, you would be assigned to the Income Contingent Repayment Plan...

All of this is public information on student loan websites all off the net. SLRO will charge you big bucks to send you a consolidation app. GET YOUR REFUND ASAP!!!!!

There are links on consolidation and rehab inthe sticky section!!

Splitting this into its own thread

The SLRO is AWFUL!!! They psuhed me to pay them $1000 (I barely had) to help me ASAP.. and kept stressing the urgency of payment, yet it has been over 5 months and I have heard VERY LITTLE!!!

The staff is EXTREMELY rude and I would not recommend their services to anyone in need of relief. I would rather have done this myself.

SCAM SCAM SCAM!!!!

AGREED...SLRO...HORRIBLE

No, i have to disagree they really do help...u guys can expect that they clear all ur debt like that magically...but really when ur in a bind they really do help trust me its worth a shot!!

NOT perfect(nothing really is however), however, worth it when u are in a bind, they do help

SLRO is a waste, they basically stole my money. I went with DirectLoan route. They are great, they are run by the Gov't and require no money. Please do not contact SLRO I wish I would have seen these posts 5 months ago, I would have saved my money and would not have wasted 5 months

SLRO overcharges for things you can do for yourself for free.

Nearing a year of "work" and not only has nothing improved - they've mislead and actually LIED to me. Awful.

Again, SLRO cannot do anything for you that you cannot do for yourself. The DOE site is full off information on resolving a default, from rehab to consolidation. Handing stuff over to a third party will only delay getting your default resolved. Dump them and do it yourself.

IM THINKING ABOUT TRYING SLRO. IF MY I AM IN DEFAULT AND BEING GARNISHED, HOW LONG DOES IT TAKE TO STOP GARNISHMENT??

SLRO cannot stop your garnishment....period. So dont waste your money. They charge you big bucks for stuff you can do yourself.

You can call your lender and rehab your loan while being garnished. It will require 9 payments over and above your garnishment payment.

I am the President of the Student Loan Relief Organization and I can assure everyone that there is no scam here. We have been in business for over four years working with government agencies to get people situated with their student loan that are in default or even worse. Please stop slandering my companies good name or you might find yourself in court. Stop hiding behind your screen names.

FYI....The Direct Loan route does not even guarantee getting you out of default especially when you have defaulted on a previously consolidated federal loan that is in garnishment. However, consolidating defaulted student loans does insure that you lock in all of your fees (25% of your balance), accrued interest and old principal all into a new loan. In reality, this might make the noose tighter on your neck. Please consult a professional when dealing with student loans. The quick fix is seldom your best option.

Lock in your fees?? Please....fees run from 18-25% and for those with defaulted direct loans, the best option is to rehab to ELIMINATE those fees. Most FFELP lenders drop the fees down to around the 18% range when rehabbing so that will save the borrower some $$$/


The best option for student loans is NOT to pay anyone else to do what you can do yourself. I have heard of people paying SLRO fees and then receive a federal direct consolidation loan application. Federal Direct Loans apps are free, as are rehabs. If the CA is not cooperating, contact the Student Loan Ombudsman, a FREE reservice. Do not pay anyone for anything.

wow, did i get a earful. now i know what to do! thanks to all of you.
jamie