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#33
12-04-2006, 12:29 PM
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Quote:
No I don't have any links but I did work in student loan collections therfore that is how I know that. Asking the same questions over again, using all caps to explain your situation, and pming me repeatedly with the same questions seem like begging to me, and I have helped you all I can but it doesn't seem to get anywhere. Finally, I find ending questions with "or what?" rather obnoxious. If you would have just paid attention to the answers I gave you and not taken such a sarcastic tone with me, the conversation would not have turned sour. What I see in you is a defeatist attitude since you refused all the advice I gave that would help change your life for the better, and millions of professional women who have families work additional jobs in the name of survival. __________________
Once you start down the dark path, forever will it dominate your destiny. 
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#34
12-05-2006, 04:32 AM
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Ok, I did not mean to come across as sour or sarcastic to you. I use caps to try to express my feelings at that moment, and I know others take it in another meaning. I am sorry.
I truely believe I have just took your message wrong somewhere. Let me try this again, one last time. I guess I got confused when I read in my thread, "You told me that if I paid anything at all and on a regular basis that I would not go into default as long as I told the creditor what was going on." then, on another post you responded to someone else something entirely different. That is what prompted my interest in the whole ordeal again from the last time we spoke. If you are telling me that they will not garnish my wages if I am paying what I can monthly (even though it may not be what their minimum requirement is), then that is the answer I was needing to know, and this is not the end of the world. I just did not know how they could garnish me if I am sending in 50.00-200.00 monthly. Thank you for all your time in resonding to me regarding this matter. Sincerely...
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#35
12-05-2006, 04:41 AM
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One other thing I am sorry about.... my computer is really slow! I am on dial up and it takes forever for this forum to pull up anything, I am talking minutes here. I did not want to take hours to find our previous thread to reread it. It takes 15 minutes for the page to come up to post on and then to post it and then to pull up something to read again.
this is not your fault, but I took the easy route by just starting another thread. This morning, I decided I was going to find our previous thread and I finally found it. You told me it took 60-90 days of non payment before going into default and that the Education Depart. hardly ever sued or went to litigation unless it was a 6 figure and I had lots of assets or resources available to me, which I don't have nothing. The Dept. of Education approved my consolidaion a year ago, and then ACS bought it from them. Does he above situation still apply?
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#36
12-05-2006, 07:07 PM
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Water under the bridge!
The facts you just stated are all true. Student loans have all the same terms applicable no matter who holds the account. __________________
Once you start down the dark path, forever will it dominate your destiny.
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#37
12-06-2006, 05:58 AM
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GROUP HUG!!!!
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#38
12-06-2006, 06:44 AM
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Thanks Jedi....again I am so sorry for all the confusion on my part.
Now, I kept this thread and I won't ask anymore on the topic unless I get a garnishment letter in the mail and I will be hunting you downf to see if all is legal. *<I:-) My "t" key sticks on my home computer and that is why my previous post sounded funny, there is nothing I can do about the sticking "t".
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#39
12-06-2006, 07:22 AM
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Quote:
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#40
12-18-2006, 09:49 AM
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I agree!
Linda, you won't get a garnishment letter if you stay current. If something happens to your family and you are unable to stay current, just keep all your receipts and household bills in a file for that rainy day in the event a garnishment letter comes. If you can prove hardship, garnishment won't happen. Stay current and good luck! __________________
Once you start down the dark path, forever will it dominate your destiny.
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#41
02-08-2007, 09:52 PM
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I hate to say it but I am seeing a lot of incorrect informtion posted in the thread.
It takes 270 days to default on a student loan. http://studentaid.ed.gov/students/pu...sh/default.htm What is default? For a Federal Perkins Loan, default occurs if you don’t make an installment payment when due or don’t comply with the promissory note’s other terms. Default for a FFEL or Direct Loan occurs if you become 270 days delinquent (if you’re making monthly payments) or 330 days delinquent if you pay less often than monthly. If your required payment is XX amount and you pay less than the required amount, you will be deemed deliquent. Making a min payment will NOT prevent default. ICR repayment. You do not haveto be in default to get this payment option if your loan is consolidated with direct loans. ICR is REQUIRED if you are consoldiating a default, however anyone can opt for an ICR plan. AWG Garnishment ...is 15% of disposable wages NOT gross wages. It has never been calculated on gross. http://www.ed.gov/offices/OSFAP/DCS/...ers.guide.html
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#42
02-09-2007, 12:11 PM
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I collected defaulted student loans for six months and the information I provided is the information I obtained through my job training and my school when it came to my own loans.
__________________
Once you start down the dark path, forever will it dominate your destiny.
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#43
02-09-2007, 08:01 PM
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I collected defaulted loans for almost a decade and then went on to become a financial aid officer for the next 5 years. All thru the 9i0's is took 180 days to default....late 90's it changed to 270 days. Somebody gave you a lot of bad information!
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#44
02-10-2007, 11:55 AM
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Well, then I suppose it won't be all so bad should I ever (knock wood) default! Not that I ever would! Good to have you around, by the way!
__________________
Once you start down the dark path, forever will it dominate your destiny.
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#45
12-20-2007, 11:27 AM
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It is me again..
...and you wonder why I got so easily confused. :lol: A quick update, We have been discharged of our cc's as of 12/5/07. That leaves us about 300.00 spare dollars to work with per month, to live off of: We are talking about two minor children, so this "spare" money will go quickly as there are Dr. copays, vehicle repairs, medication copays, home repairs, COLA's and etc.
I plan on making a payment of some sort in March towards my student loans, I know the minimum will be 380.00 and I know that I will only have 300.00 to send in and that is our income tax divided by 12 months! So, I am going to apparently default for sending in less than minimum payment expected. Should I get a garnishment letter in mail, are you telling me that I can appeal this with verification that my family would be placed in due hardship and get garnishment stopped? Also, I read in a previous post (not sure which one it was, but I believe Soaplady was involved) that after 25 years of paying, the loan is forgiven on the remaing balance. This is indeed correct information? Who do you verify this information with say in 25 years??? Thanks in advance and MERRY C H R I S T M A S.
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#46
12-21-2007, 05:21 AM
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I plan on making a payment of some sort in March towards my student loans, I know the minimum will be 380.00 and I know that I will only have 300.00 to send in and that is our income tax divided by 12 months! So, I am going to apparently default for sending in less than minimum payment expected.
Have you talked to your lender about income sensitive payments? Unfortunately it sounds like you had your loans with the DOE or DL program....they have the Income Contingent payment plan that would have been ideal for you. However since you reconsolidated with ACS, you no longer have that option. They do offer income sensitive though. Should I get a garnishment letter in mail, are you telling me that I can appeal this with verification that my family would be placed in due hardship and get garnishment stopped? Possibly. But then again they will look at assets and your husbands income as well in determining hardship. Also, I read in a previous post (not sure which one it was, but I believe Soaplady was involved) that after 25 years of paying, the loan is forgiven on the remaing balance. This is indeed correct information? Who do you verify this information with say in 25 years??? Again this is a Direct Loan or DOE benefit.
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#47
12-27-2007, 06:34 AM
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spoke with my attorney that did my bankruptcy
My attorney told me that if ACS is
asking for 380.00 and I am only sending them 300.00...he seriously doubts they will garnish my wages or take my refund check. He said they will be happy to just to be receiving payment on the outstanding loan. He told me that very rarely does he see wages garnished for student loans, but they could take my income tax. He told me to change the way I file so that they don't get very much of my income tax return (should they take it.) I mentioned to him that if they take my refund, there goes their 300 a month and he said again that he rarely sees them intercept and garnish wages and they would rather intercept tax refunds. He told me that I may default and they will give me crap over it, but he is pretty sure they will accept it without further action. This was my attorneys advice...
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#48
12-27-2007, 06:38 AM
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oh...
Oh, and other than the fact that I
will be paying on this until I die!! Yes, I have spoke with ACS. Their sensitive plan is 2.00 less than the minimum payment. I told them already that I would not be able to make their full payment and i wanted to know what they would do to me for not meeting that. They did not tell me anything other than the fact that they would not garnish my wages. She kept saying they were there to help me!!! We will see how long they will be there to help me.
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