MO student loan collection
Date: Tue, 01/30/2007 - 20:08
Who should I believe?
Have you called the most recent CA claiming to have your account
Have you called the most recent CA claiming to have your account? I would contact both CAs to find out what is going on before sending either one any money. But once you find out which CA the debt now belongs to make arrangements with them. You don't want to have your refund taken away from you.
welli already made 1 payment and was tring to get a payment plan
welli already made 1 payment and was tring to get a payment plan. these people drive me nuts.
do you think i should send the DV or just talk on the phone?
Don't let the first payment go wasted. Check out to see if they
Don't let the first payment go wasted. Check out to see if they have updated your account with the payment done. If they have your file, it must be done otherwise you need to claim for a refund. Take legal help if it's needed. The CA cannot take your money and keep it in their pockets. You have done the right thing by sending the DV letter to the other CA. I know this is really annoying with so many CAs calling. Be aware of your legal rights and consult an attorney if these scumbags start harassing you.
Quote:Last year I got a deal from a CA about my student loans. I
Quote:
Last year I got a deal from a CA about my student loans. I know that I owe them although they had been on deferment. |
If you are getting calls from a CA, your loans are in default.
Quote:
When I called to make arrangements with the guy, he said his company sent the loan back to the state collectors and gave me a number for higher education. I called them and made a payment to keep them from collecting my income tax return and then they sent me a form to fill out to get on a payment plan. I finally got it in the mail a few weeks ago (from Nov). It was pretty mutilated. I called the guy and left a message that I would need a new one and to call me. He has not called but now I am getting a letter from a different collection agency all together. This is a pain. |
It sounds like the the account was sent back from the 1st CA to the state guarantor. The guarantor sent out a financial disclosure form. Sounds like it got mangled in the mail. Because it was not returned within a short period of time, your account was rotated to another CA, which is very normal.
Quote:
I am sending a validation letter. I just can't believe they keep selling this debt. Should I just keep with the guy from the state or should I work it out with the collector. They also added 25% to the loan amt for collection fees. |
Student loans are never sold. The state guarantor contracts with CA's to collect them. Once it is placed with a CA, the state will no longer work with you. It is also the guarantor that adds the 25% in collection fees. These fees are added 60 days post default. This is all listed in the prom note that you signed.
Who should I believe?
