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West Collecting IRS Refund

Date: Mon, 02/14/2011 - 08:25
Submitted by on Mon, 02/14/2011 - 08:25
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I thought my son's school loan was taken care of, and I was a co-signer. The loan was several years old. This year I was notified that my entire refund of several thousand dollars was captured by West Asset for SallieMae, and that left a balance of several more thousand dollars of interest. They wanted me to do a loan rehab, pay monthly on the remaining balance and get back in the good graces of Sallie Mae. Somehow, this doesn't sound right. I'll keep investigating, and go with my gut feeling not to make any debit card prepayments until I'm comfortable. I don't mind paying what I owe, I just want some cleaer answers. Your site confirmed my feelings. Thanks!


You should contact them and ask for records. I suspect the collection was done legally but it is possible for their records to not be correct. Tax refunds can be confiscated for government backed student loans along with other means and methods of collection. They are not required to take you to court to collect either.


Submitted by DOLLARSandSINCE on Mon, 02/14/2011 - 09:20

DOLLARSandSINCE

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This sounds like a Parent Plus loan.....federal loans have not had cosignors since the early 80's. With Parent loans, you are the primary, not the cosignor....the student has no liablity.


What they are telling you is dead on...read the stickies in this forum. If you dont make payments, you could easily find yourself being garnshed....employers info is usuaslly passed along via the IRS this time of year. You do not have time to "feel comfortable"...


Submitted by SOAPLADY on Mon, 02/14/2011 - 15:48

SOAPLADY

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I, too, took out a Parent Plus loan for my daughter with the understand (with her) that she would repay it. Well, the time came when she couldn't, and of course, I made the payments as she was paying on "her" loan. I was responsible for the Parent Plus loan as Soaplady says.

Oh, what we do to help our children - but it was worth it. She now has a decent-paying job.


Submitted by aubrey on Tue, 02/15/2011 - 06:23

aubrey

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