My situation
Date: Mon, 12/18/2006 - 12:30
My situation is when I was 18(now 22) I was some what tricked to one of those IT/ learning program the whole loan amount was 16,700. Year passed, a few day recently I try to apply for a house loan, and was told that I owe 26,000.00 to a collection agency coming from the student loan. This hitted me by surprise, so I called the collection agency and explain my situation, what they offer me was that I can pay it off with 14k but it will still be on my record. With my current standing there no where I can get 14k, seeking any kind of help or advice.
Thanks
Hi Rom. Welcome to the forums. As you have registered here, a
Hi Rom. Welcome to the forums. As you have registered here, a debt counselor will be contacting you shortly to explain the different options open to you for your particular situation. Good luck, and feel free to post here anytime.
Since the debt is four years old, you need to check if it is wit
Since the debt is four years old, you need to check if it is within the SOL period. You may also contact the original creditor and finalize a payment plan. They will be able to accept your arrangements if the file is in their system.
Have you confirmed if this collection agency has your debt details? You should have everything in writing mentioning the loan principal, interest calculation, SOL and other papers you signed with the original creditor.
I think student loans have a different set of rules when it come
I think student loans have a different set of rules when it comes to SOL. What kind of student loan was it?
Rom, is this debt student loans? Because this debt doesn't run o
Rom, is this debt student loans? Because this debt doesn't run out of the SOL period. You will have to repay it.
Hello thanks for all you guys reply, had a hard time find the or
Hello thanks for all you guys reply, had a hard time find the original link for this. Sorry for this dumb question but what is SOL? I'm not quite sure what kind of student loan it is - I do know that it was with Mission Federal credit union. Sadly I do not have the orginal loan agreement and have been the last few trying to acquire a copy. Thanks you guys for all your advice and happy holiday.
