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I am in a student loan default program and having

Date: Tue, 05/24/2011 - 09:26
Submitted by balder on Tue, 05/24/2011 - 09:26
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I am in a student loan default program and having troubles with the final two payments. My payments have been 1/3 of my monthly take home, and last month I arranged with ECMC to break the payment into two payments; they said this was fine, but then proceeded to harass me via phone and send a message to my credit bureaus that I was past due. I am concerned that they will not only restart me on a 10 month program but also not honor any deal I try to negotiate with them. I am being bled dry on a payment I could not afford in the first place. What are my rights when phone calls and letters go ignored? I cannot make the scheduled next payment. They don't even honor 15 day grace periods on scheduled payment but harass and damage credit reports.:(


I'm confused. You were on a repayment plan which had you making one montly payment. You asked to break this into two monthly payments. Have you been making these payments? If you were already in a repayment plan for default and you've been missing payments of course they are going to call you. You need to talk to them and set up arrangements ASAP.

Is this a private lender or government?


Submitted by J L B on Tue, 05/24/2011 - 09:29

J L B

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You are in default....paying a collection agency doesnt change that fact. You will stay negative until the account is paid in full by either rehab, consolidation or paid in full.

If your payment is late or less than the agreed upon amount, the account will go back into the dialer for calling. This is standard practice.

you sound like you are doing a rehab. How much do you owe and what are your payments?


Submitted by SOAPLADY on Tue, 05/24/2011 - 09:33

SOAPLADY

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