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What do I now about this collection agency?

Date: Tue, 11/27/2012 - 15:46

Submitted by greywolf74
on Tue, 11/27/2012 - 15:46

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Total Replies: 3


Logn story short...I went to ITT tech for 2 years getting loans for the whole thing. It took me around 3 years to get a job even remotely related to what I went to school for and it took me closer to 5 or 6 years to get a good paying job in that field. Well after the 6 month grace period was up after graduation I liked to choked when I got student loan bills in the mail for $500+ a month. Almost as much as my rent. I contacted them and they said I could consolidate all my loans and put a hardship forbearance on them until I could afford to pay for them so I did. What they failed to mention was the fact that they could only do that with my government loans and not with the private loans I had taken out. Unfortunately I didnt know this since I was poor for the first few years after graduating I was moving from one place to another to another. If they were sending me collection notices I wasnt aware of them cuz I never received them.

So I eventually landed a good paying job at an air force base as a contractor which required me getting a security clearance. As part of getting my clearance I had to go before a federal judge and explain why I had so much debt that hadnt been paid. (There were also some small things on my credit report...first time I had ever pulled my credit report since no one ever really taught me about such things growing up). I managed to convince the judge that I wasnt a security risk by starting to pay the collection agency months before my court date and got my clearance.

So I paid this collection agency (Windham Professionals) $300 a month for about 2 years even though they were saying i owed them 23K for 9K worth of original debt. I never agreed to amount but started paying them for fear of loosing my good job. Well after paying them for a couple of years....something like 6K I noticed my Windham professional statements that I recieved 2 or 3 times a year only ever showed the amount i owed and nothing else. Well after 2 years and 6K later the statement still said I owed only 1800 dollars less than the original amount. I called them to ask them about this which got me no where and got me so angry I looked up stuff online and found a generic validation letter so I sent it to them. They disappeared. This kind of surprised me as Salie Mae sent me to them so I figured they could validate the debt but I figured why not? right? Well since then 2 other collection agencies tried to collect which I just ignored and never herd from them but once or twice.

Then Convergent sent me a rather lengthy collection letter so I figured Id try the ol validation letter again on them just to make sure they could collect the debt and again asking for specific tallies of how they figured the amount that i owed them etc as they are claiming I owe them 23K and some change now too. Well they sent me a reply back to my letter but all they sent me was all the paperwork I had signed to get the original loans both private and government backed and a copy of the paperwork showing that if I defaulted on the loans then I could be responsible for paying a collection agency. Now my state does not require a license for collection agencies to collect in Ohio so I guess that part doesnt matter but there is nothing outside of all the original paperwork I signed to get the loans from Sallie mae. Is this all that is required for validation? I still have no idea how they arrived at the total amount they say is due, they never stated what the loans were originally for, They also dont show any records of the payments I made to the other collection agency or even any paperwork from the other agency I was paying for awhile, and they have not proven the statute of limitations hasnt expired. So I have 2 questions at this point.

1) Did they completely validate the debt?
2) If not then what should I do from here?


Are these private loans you are paying on?? Do you know your interest rate?? If these are private loans, I am very surprised that sallie mae has not already filed a law suit against you. They have validated the debt with your prom notes. Your interest is accruing daily and you are subject to collection fees which is why your balance hasnt gone down very much.


lrhall41

Submitted by SOAPLADY on Wed, 11/28/2012 - 21:33

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yes they are private loans....they didnt tell me that when I consolidated my student loans that only the government back loans were being done...I thought I had them all handled until it was too late. As far as I know Sallie mae has already written the loans off as a tax loss (at least it says written off on my credit report) and sold the debt to debt collectors which is why I keep getting hounded by various collection agencies. If they do still own the debt then they probably havent taken me to court because they know Id loose my job and then not only would they still not get anything on the defaulted loans but Id end up not being able to pay for the other loans either. its a loose/loose position I would think for them. At least this way they at least are getting something.

All that aside the one thing they still havent validated at least in my eyes is how much they are charging for interest, how much has been wracked up thus far, how much the late fees are etc.....I want to know how 9K worth of loans turned into 23K and I whatever interest rate they are charging that only pays off 1800 of a balance after paying in 6K seems like it would be illegal. Another reason why I think they havent taken me to court. If they did I think theyd have to show all of that and they dont want to.

If they did take me to court I think they can only sue me for X amount of debt plus a legal amount of interest and late fees.


lrhall41

Submitted by anonymous on Thu, 11/29/2012 - 13:41

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