New Dx no cure and progressive-rehab?

[ms44]

I recently chose to contact them and start to make payments on my old student loan. 5k and with penalty interest 14k. They will remoe interest, penalty and collection fees if I rehab the loan.

they wanted hugh downpayment. Said not working disabled and 6 mo until ss disability if approved. My condition is permanent. They want 250 down for 2 mo and then 151 for total 9 mo then comes off credit report and can pay off in 9-25 years.

My concern is I am disabled, should I get started on this? I have to borrow funds to make the payments from family.

I was going to go ahead and make the payments and still file the discharge form have the dr sign it and then they refund my payment as I read it.

This way the collection fees, interest and penalty is removed. The school closed after my class left they sait they were certified and they were not and they promised jobs and did not, Institute of Computer Science in Omaha NE was bogus.

 

I will pay as I don't like to owe anyone, I was not aware they remove the collection fees, so I wanted to share.

 

Anyone with experience in this situation, please share their knowledge. Thank you very much

[LynnInMN]

I recently chose to contact them and start to make payments on my old student loan. 5k and with penalty interest 14k. They will remoe interest, penalty and collection fees if I rehab the loan.

 

Wrong. They can only waive 18.5% in collection fees. Your interest will not be removed.

 

they wanted hugh downpayment. Said not working disabled and 6 mo until ss disability if approved. My condition is permanent. They want 250 down for 2 mo and then 151 for total 9 mo then comes off credit report and can pay off in 9-25 years.

My concern is I am disabled, should I get started on this? I have to borrow funds to make the payments from family.

I was going to go ahead and make the payments and still file the discharge form have the dr sign it and then they refund my payment as I read it.

 

If you qualify for disability discharge, do not make any payments. Keep in mind though, that SSI permanent disability requirements are different from student loan disability cancellation.

 

 

This way the collection fees, interest and penalty is removed. The school closed after my class left they sait they were certified and they were not and they promised jobs and did not, Institute of Computer Science in Omaha NE was bogus.

 

School closure discharge only applies to student in attendance at the time the school closed. Getting a job or job placement is not an dispute the DOE will honor.

 

I will pay as I don't like to owe anyone, I was not aware they remove the collection fees, so I wanted to share.

 

Anyone with experience in this situation, please share their knowledge. Thank you very much

Edited November 16, 2006 by LynnInMN

[ms44]

Thank you for that information. I called Van Ru and they said that after 9 mo the penalty and collection fees will be removed 100% and if ad when I want to pay it all off they will remove 50% of the interest and give me a payoff amount. They also told me the min due is 120 down for 9 months.

 

I cannot wait to start to pay this off with my first paymnt this week. How nice it will be. It has been off my credit report since it has been 20 years, but this will stop the 15% garnishments if they ever try and do that and the stop takng my tax returns and just the fact of removing the collection fees is all I wanted. For all the harassment or 20 years.

 

Uncle sam needs money more than me. Money does not buy happiness.

 

Have a blessed holiday to all. Thanks again