Default Student Loan & Allied Interstate
Date: Fri, 03/25/2011 - 16:40
I defaulted on my student loans, it's a little over $5200. I started working with Allied Interstate after they were calling me like 5 to 8 times a day. I made 1 payment of $60, and 2nd payment of $100 and then they asked for $1000. I told the woman there was no way I could generate funds like that. I am a single mother who does not recieve child support and I'm in the military. She gave me some bull about well we can't keep you on the program unless you pay that amount. I'm sorry but I don't know anybody who can pull that off and be financially sound in my situation.
What should I do?
I was thinking of just sending them a $150 check a month because as long as they are recieving something, legally they can't say anything and have to stop the derogatory notes on my credit, right?
What should I do?
I was thinking of just sending them a $150 check a month because as long as they are recieving something, legally they can't say anything and have to stop the derogatory notes on my credit, right?
Quote:I was thinking of just sending them a $150 check a month
Quote:
I was thinking of just sending them a $150 check a month because as long as they are recieving something, legally they can't say anything and have to stop the derogatory notes on my credit, right? |
Total myth. You are in default. Nothing will stop the reporting except for the SOL reporting. Even if you paid it off today, the negative tradeline continues to report for the full 7 years.
If this is a federal loan, check out the sticky section at the top of this forum and look into consolidating your loan with Direct Loans...asap!
