General Revenue Corp...

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I'm clueless about who these people are.

 

Anyone know?

 

I took out a Perkins loan through the State University of New York. It is now defaulted, and General Revenue Corp. is giving me an opportunity to consolidate my loan.

 

They also said I can consolidate a $18k loan I took out from Sallie Mae which has left blood (red) marks on my CR and have them remove all the baddies because technically, my balance would go to $0.00 - of course, I'd get this in writing.

 

This a good idea? I'm lost and can't concentrate from the pressures of work and personal stuff.

 

Thanks, in advance.

[LynnInMN]

I'm clueless about who these people are.

 

They are a collection agency that specializes in student loans.

 

Anyone know?

 

I took out a Perkins loan through the State University of New York. It is now defaulted, and General Revenue Corp. is giving me an opportunity to consolidate my loan.

 

They also said I can consolidate a $18k loan I took out from Sallie Mae which has left blood (red) marks on my CR and have them remove all the baddies because technically, my balance would go to $0.00 - of course, I'd get this in writing.

They cannot give it to you in writing because what they are telling you is incorrect.  If you consolidate, your balance goes to zero, but the default notation remains.  If you rehab,  that is make 12 on time monthly payments, then under federal law the negative notations are removed by SUNY.  The Sallie Mae tradelines will not change with either program.

 

This a good idea? I'm lost and can't concentrate from the pressures of work and personal stuff.

 

Thanks, in advance.

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Edited June 3, 2005 by LynnInMN

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Thanks for the reply, LynnInMN

 

As per Sallie Mae, are there alternative methods one can use to remove the lates SLM reported?

 

Thanks.