Federal Student Loan Consolidation

Welcome Todd!! Thanks for the great info! I am bumping this to the front so others can see it>..karen :D

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soaplady, you will be my savior through my student loan dilima. Sure need your help and advise. It is too soon to get a response, if any, from FMS Inc who got my validation letter a few weeks ago. I guess it is a start.

My advise to you Luke is to quit waiting and call. You will get way more information from a phone call than from a validation letter...most times validation letters are seen as a stall to CA. With validation you will get a copy of the prom note and maybe a balance. They will follow up with demand for balance in full or a garnishment notice. Waiting is costing you money...interest is accruing daily and you are getting closer and closer to being put on the tax offset list.

Todd Shaw is a behind the scene worker for our site owners. I would advise him to register as a member here so his reputation can be seen to all.

thanks soaplady, Ill try to call them this weekend. I always thought it was best to get everything in writing with collection agencies like I read so much here, that is why I donkt really want to talk to them, but I trust you and thanks.

Student loans are the exeception to the rule for many things. When it comes to answer letters, the general rule for student loans is to ignore them. Collectors are not permitted to customs tailor letters nor can they negotiate in writing. Your prom note states "balance due in full on demand" when you default...CA's simply cannot put anything in writing that would contradict this statement. They are not trying to be difficult....the clients just will not permit it.

Soaplady:

I went to the Federal Student Aid website you pm'd me and got infomation from my student loan, dates, amount borrowed and amount owed and even they showed the $2,200 loan I got in 1985 with a $0.00 balance as of 4/17/98, and it shows IDAPP in Deerfield IL as one of the people who I paid was paying this through in default with with a Loan status code of PM(presumed paid-in full) in 4-17-98 and In repayment(RP) in 3-24-86. Why would these collectors now who want over $6,000 and where in the $%%^& did they come from. This loan has been paid off over and over agian in the last 23 years and I really had enough of it. Please help.

Soaplady,,,,,you there? :?

Call and ask the CA.

Thanks, did you read my post above yours? I am asking for your help. I just thought I would be advise more than to just call them. Donkt mean to be rude, just very disapointed.

Luke...I am not a mind reader nor can I say for sure what has happened to your loan. From your earlier descriptions it sounds like it is not paid and what is reporting may or may not be accurate. You have to call and find out for yourself....there are times that advise cannot help.

Thank you soaplady. Thank you and I will keep all that are interested updated.

Dear Soaplady, I sent you a pm, I hope you have the time to read it and to you and yours Happy Thanksgiving.

Thank you.