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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!




I just got off the phone with using numbers from here to contact National Collegiate Trust. It went from calling AES, next to Marblehead default, to NAN, which I was told when the lady answered the phone was NCO, I asked if it was NAN, and she stated yes, but answers the phone that way. Wanted all my personal information before she would even tell me if she had my loan or not, they all did. Then NCO stated that I needed to call Pollack and Rosen, PA in coral cables, FL. So I call them, and they state they are an attorneys office. The guy I am speaking with asks me all my personal information, I ask whom am I speaking with and job title before i am going to give him anymore, turns out, he is a collector too, for the attorney. My original loan for National Collegiate was for 20,000.00 in 2006. I got done with school in 2007 in December. This loan is now 33884.00. this is only one loan. I have other ones, one which is now garnishing my wages as of today 214.11 biweekly, and I am a single mother not receiving any child support. I went through a company called ERS that was supposed to help me for 9 months make substantial steady payments to them with 3000.00 my parents gave them, which we never got a receipt for nor do we even know where that 3000 went. and they were going to consolidate my loans with Direct Loans Consolidation. I filled out a packet of paperwork that took hours. Sent them tons of personal information and paystubs, etc. Gave them the names of my loans and account numbers, including mine for national Collegiate. ERS didn't put it on the consolidation or two other ones. Now I am being sued I guess from National Collegiate but haven't received a summons, and they stated this attorney's office tried to send me a letter. I NEVER received a letter. Wouldn't they send that certified? Well, they had my correct address and nothing ever came. FL Dept of Education now garnished my wages as of TODAY and their loan was also in the alleged consolidation, and so was a loan by Texas Guaranteed. They took my tax returns for two years and I didn't even file yet waiting for the consolidation that now has never taken place that I was told did. I tried to call Morgan and Morgan today and was told the case was "accepted" and then to have someone from the attorney's office call me and refer me to another one outside of them with a 250.00 consultation fee. I can't get anyone to help me and my son. He's 8. We will be homeless at the end of next month. I have no family to move in with, I drive an old truck that has 126000 that has a leaking radiator that I can't afford to fix. I cannot get another apartment, because this stuff screwed my credit so bad I can't even get an apartment and I can't get a new vehicle or used because of my credit. and there is now no way out. If it weren't for my son finding me dead, I would kill myself tonight. I'm over 80000.00 in debt to these loans now with no way out.....ever. I don't make enough money to ever in my life pay them back and survive to feed my son and keep a roof over our heads. I will never be able to get a home, or a car, or even an apartment again and now they garnished my wages without even notification to me. That's right, I was told they didn't have to notify me. They sent 2 notices to my employers offsite payroll company who never notified my employer and now I can't even pay my rent. I have already lost my home over these loans and now we will be homeless. I am a nurse. That's right, a nurse and this happened to me. Years of deferring loans and going back to school. and don't ever ever go to those schools for medical transcription and coding...and such. They will charge you 12k to do those 8 month programs and you CANNOT make any money to ever pay back those loans either. that is where a lot of my loans come from. Oh, and I wanted to go back to school to get my nurse practitioner master degree. Those dreams are gone. Defaulted loans=no more loans for school. I am so desperate I even called abc action news and emailed them to see if anyone could help me and if I could take any action against the creditor/predator ERS whom I in good faith entered into their program to consolidate all my loans and have the default status removed off my credit report "as it never was there" I was told by Alex...well, Alex won't return calls and neither will his manager. Thanks ERS for ruining my life when I tried to get back on track. Now I am being sued by National Collegiate Trust's legal team, and I am being garnished by Fl Dept of education and we will be homeless. If anyone knows anyway I can get some help please please post.

Sub: #71 posted on Wed, 06/20/2012 - 15:42

Unregistered


First Mistake...National Colliegiate Trust is a private lender. The loan was never eligible for consoldation with DIrect Loans with your federal loans.


I take it you are in FLorida...Morgan and Morgan is my attorney on my workers comp case.
Register with the forum and PM me....I probably can help you and save you the legal consultation fee.

Sub: #72 posted on Wed, 06/20/2012 - 16:12

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

Thanks for deleting my very serious post soap lady. I guess if you have life changing information on here and it is too serious of nature, they delete it

Sub: #73 posted on Wed, 06/20/2012 - 17:30

Unregistered


I apologize, my post was gone, you must have been answering it.

Sub: #74 posted on Wed, 06/20/2012 - 17:31

Unregistered


Dont think anyone touched it...know I didnt. I made a point of telling you to register with the forum and PM me....I can help you.

Sub: #75 posted on Wed, 06/20/2012 - 17:51

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

In case anyone out there is still looking for their number, it's (800) 895-4283. The person who answers will be from First Marblehead, ask to be transferred to Nat'l Collegiate Trust.

Sub: #76 posted on Tue, 11/27/2012 - 09:04

Unregistered



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