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I'm about 10 years and 30grand behind on my student loan payments. Last week I emailed the gov and asked them where my loan was being held, and they replied with the information and told those people my new information (address, phone, etc).

So I want/need to pay this loan back to restore my credit. Hopefully soon I will get something from the collection agency and we can begin to work out payments.

My question is, is this in my best interest? Is there any other option?

Since your interest is accruing daily, your best bet is not wait on the CA and contact them yourself and get the ball rolling. You can read in the sticky section on rehabs and consolidation to get your loan out of default.

Is this in your best interest? Yup. Federal debt doesnt ever go away. The can garnish your paycheck without a court order, seize your state and federal income tax returns and garnish your social security. You have to pay it is no choice.

Sub: #1 posted on Mon, 09/01/2008 - 16:50

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Thanks soaplady. What about the Direct Consolidation Loan and/or Public Service Loan Forgiveness Program? Can you share any knowledge on these topics that might be able to help me?

Sub: #2 posted on Tue, 09/02/2008 - 15:21


Information on both these topics are in the stickies at the top of the forum.

Sub: #3 posted on Wed, 09/03/2008 - 04:18

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