Share post
member profile picture

I decided to try to help my step father out and co-sign his student loans. At the time he was working in a very good job and could afford the payments when they started to occur. But of course with my luck, he was laid off and to this day is still trying to recover from the financial loss he gained from being laid off.

I co-signed three student loans for him, two unsecured loans from COLLEGIATE FUNDING/GLELSI and one student loan from NATIONAL COLLEGIATE TRUST (I am getting the names from my credit report, don't know if that's the actual names of the companies.)

I have come to the realization that the only way I am going to fix my credit is to assist him with the payments of the student loans, but even with our income combined we can't afford the total payments of all the loans as well as all our other bills.

Combined, the loans come out to a total of approx. $68,000 with monthly payments being approx. $750. Does anyone have any tips on what routes we can take in order to rid us of our problem?

Any help would be greatly appreciated. Thanks!




Hi,

If you are not able to contact them,what you can do is send them a written mail. Their mailing address is as follows

National Collegiate Trust
237 Park Ave Ste 21
New York, NY 10017-0010


It is possible that their phone no has been changed,you can as well search it on the yellow pages !!!!!!!!!

Sub: #21 posted on Thu, 05/06/2010 - 17:48

Rebecca Miller Rebecca Miller

(Posts: 131 | Credits: )

[QUOTE=Rebecca Miller;695839]Hi,

If you are not able to contact them,what you can do is send them a written mail. Their mailing address is as follows

National Collegiate Trust
237 Park Ave Ste 21
New York, NY 10017-0010

It is possible that their phone no has been changed,you can as well search it on the yellow pages !!!!!!!!![/QUOTE]


National Collegiate is handled thru AES....they will not respond to written letters.

Sub: #22 posted on Thu, 05/06/2010 - 18:04

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

How can I tell if the loan I co-signed for is a federal or private, and is there a way to find out if the loan was sold?

Sub: #23 posted on Tue, 06/08/2010 - 21:46

Unregistered


Only private loans need a cosignor and they are never sold to collection agencies or junk debt buyers. Sometimes they are however sold to another lender or defaulted back to a guarantor. Who was the lender? Have you checked your credit report?

Sub: #24 posted on Wed, 06/09/2010 - 04:23

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

Quote:
Originally Posted by Anonymous
I need to contact them as well.

National Collegiate Trust

They sent mine to this collection agency:
NCO Financial
800-236-3100

See if this helps.

daisy2502

Sub: #25 posted on Wed, 06/09/2010 - 09:05

Unregistered


C.an a CA go after the cosigning parents if they were not informed the loan was
delinquent. don't co-signers have a right to make the payments so loan doesn't go to a ca.

Sub: #26 posted on Fri, 07/09/2010 - 00:39

Unregistered


If a CA is involved,it sounds like the loan is defaulted, not just delinquent. And the co-signor has the responsiblity to make the payment, even if they are not informed.

Did the lender/servicer have all the correct up to date contact info?

Sub: #27 posted on Fri, 07/09/2010 - 02:37

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

Does National Collegiate Trust even exist? How is it that they can report you to collection agencies without having any contact information? This is a joke!

Sub: #28 posted on Thu, 07/22/2010 - 14:56

Unregistered


You contact them via the collection agency.

Sub: #29 posted on Thu, 07/22/2010 - 15:51

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

NCT and AES are nothing more than loan sharks! It's bad enough that you have to resort to getting private student loans but they charge you high interest rates on each disbursement. They will not consolidate your loans for one monthly payment and options are limited. The best they can do for a 3 month period and charge you $50 on each loan....if you have say 20 that is $1000 a month!! Totally unreasonable!! I can't find anyone to talk to at NCT and AES just flat out says unfortunately we don't have any other option for you. So, they rather you not pay at all then work with you to make reasonable monthly payments. Yes, they are a JOKE!! I'm talking to an attorney.

Sub: #30 posted on Wed, 08/11/2010 - 11:39

Unregistered



Page loaded in 1.251 seconds.