Was I tricked by DCS?

Just a minute. Let's get Soaplady over here to pick this apart.

Hang on...

They cannot even say the represent Direct Loans cause they are a DOE vendor, not a vendor for Direct Loans.

No, your parents are not responsible as references. Nor can you rehab or get out of default in 60-90 days unless you consolidate.

I would suggest calling the student loan ombudsman.

I just got a big packet in the mail of sign here and sign there. Aside from it being a bit confusing, (I can sift through most of it) I have figured out it is for an income contingent consolidation loan through Direct Loans. Now, there is no payment amount on here. It just tells me to check here and sign here. It doesn't have my income anywhere on here. It has the approximate amount of my debt listed.
I am confused because while I finally got the answer I was looking for with a $50.00 a month payment, if I accept this then what happens? How do I know what my payments would be?. Since the person on the phone was deceiving about everything I don't want to call them and ask them questions because I don't trust them.
I can't just sign a piece of paper without knowing what I am committing myself to. I though rehabbing was the best way to go first.
So if I could be directed to the link about rehab versus consolidation, and how to find an ombudsman I would really appreciate it. I have read through the site but I am not seeing anything that tells me what would be best for me.
I know she (from DCS) will probably be calling me to see if I got the packet or not. But after her stunt that my references will be on the line for my loan I really don't want to speak to the "soft spoken older lady". Even knowing now that it isn't true I am still a bit livid.

I would also like to add that while I know that build payments are not considered to be part of any rehab or anything, each year my husband gives me some money from his tax return to put towards the loan. Sometime, (in the not so near future from what I hear) around 8-10 weeks hopefully the government should get $4000 from our 1st time buyer house credit which will put a dent in the loan of $8000.
So should I consider waiting until that payment is received by the CA before entering into anything?
Thanks!

No application for Direct Loans lists the payment, especially the income contingent type. Your payment will not be finalized until after they have verified your income thru the IRS. You can get an estimate of your payment on the Direct Loan site somewhere...I know I have seen it. You can also complete your application completely online which I recommmend over the paper forms.

I would not wait....tax offsets are being submitted to the IRS over the next 30 days...if you are in default, any government payment including tax refunds are subject to seizure if your SS# is attached to it.

But a consolidation isn't going to take me off of the tax offset list, because I won't have time to make enough payments.
How do I apply online with the CA being DCS?

Anyone can apply online for a Direct Loan consolidation....it really doesnt matter who the CA is. Consolidations do not require any payments be made...well technically they say you have to make 3 but they will go thru without any. Now a consolidation will do nothing for your credit but you will be out of default with 60 days and then you are removed from the tax offset list.

Yes , I reconsilidated my loan paid my 50.00 and the lady let me know that my income would not be offset and when I did my taxes it was held im a single mom with 3 kids I think this is not fair.

Need more info. You made one payment when? Did you actually do the consolidation loan paperwork and was it funded?

how did you get a $50. payment?? My payment is so high that I can't pay it she told me if I don't pay it voluntary they will just garnish my wages. they will get it either yat

Also what happens if I become unemployed?

Payments are based on your balance....if you have a higher balance, you would naturally have a higher payment.

Give us more information.

Quote:

I was told by the DCS lady that I had to make 9 monthly payments then I would be in good standing. the papers that i got from the Dept of ed said 6 months. The lady is not very nice or help full.every time i call the number for the dept. they always send me to dcs.. things are not going well at work and i might have to go on unemployment. what will they do then. and can you tell me does the dcsquick pay site work for payments??

Quote:

Am I a fool to request in writing from DCS prior to giving them a down payment? They said that I will recieve a statement after the money has been given to them. I found that odd and said no money until I see it in writing. He said no and he also said that I guess you refuse to pay now and hung up on me. Whats going to happen now? I tried to work out a payment plan with them and just requested to see it in writing first. Any help with this would be greatly appreciated!

If this is a student loan, you will get nothing in writing as a matter of policy. You have a prom note agreeing to balance in full in demand....that is your agreement. If it is a federal loan, expect to see them move forward towards wage garnishment. If private, it will probably be sent to an attorney to be sued upon.