SL CA just called hubby at work

[JESS12401]

Not sure how they located him (we just moved here). He didn't answer his work cell, he just let them leave a message b/c it showed unavailable (usually telemarketers). He says it was Van Ru in reference to a Student Loan.

Here's what he's done with these loans so far:

It was in 96 when he first got the loan.

He didn't pay anything on it til 01.

Made 6 or 7 payments and stopped.

Started again in 03 when I started doing credit repair the first time.

Stopped again in early 04.

They've been dormant for the last 3 years or so til now.

Only the OC's show on his reports (as negs, of course), but no collections.

I'm wondering if I could get some feedback on how long it will probably be before they will want to garnish wages?

In addition, I'm not sure who to call to make payments. I don't want to deal with the CA (for obvious reasons), but I think it's too late to call OC, right?

And then I was also wondering if it would be cheaper to make payments than just let them garnish...

 

Thoughts please...

[LynnInMN]

Not sure how they located him (we just moved here). He didn't answer his work cell, he just let them leave a message b/c it showed unavailable (usually telemarketers). He says it was Van Ru in reference to a Student Loan.

Here's what he's done with these loans so far:

It was in 96 when he first got the loan.

He didn't pay anything on it til 01.

Made 6 or 7 payments and stopped.

Started again in 03 when I started doing credit repair the first time.

Stopped again in early 04.

They've been dormant for the last 3 years or so til now.

Only the OC's show on his reports (as negs, of course), but no collections.

 

Since it is defaulted it is automatically a collection account.

I'm wondering if I could get some feedback on how long it will probably be before they will want to garnish wages?

Could be almost immediately.

 

In addition, I'm not sure who to call to make payments. I don't want to deal with the CA (for obvious reasons), but I think it's too late to call OC, right?

 

Right. He needs to call Van Ru and set up the account on a payment plan to avoid garnishment. With student loans, you do not have the option of dealing with the guarantor

And then I was also wondering if it would be cheaper to make payments than just let them garnish...

 

Depends on how much he owes. Garnishment is 15% of disposable wages.

 

Also, who was this loan originally thru? If this was originally a FFELP loan, (with a lender like Sallie Mae, Citibank, Wells etc), this loan might have recently been subrogated by the feds. Van Ru does collect for the DOE. Subrogation results in an additional 7 year tradeline.

 

 

Thoughts please...

[TheGooch]

I personally had a great experience with VanRue! They where totallly helpful, and the the rep (Ben) called every month personally to tell me my payment had posted and that i was on my way!

 

Call them and don't hide. I feel soooooooo much better that my loan is now in rehab!

[JESS12401]

Lynn-

Thanks for the feedback. I'm not sure on who exactly has his account now, I guess. Because here's what I'm seeing on TC

(I don't have the original report from the CRA yet, but it should be here in the next 2 weeks).

 

US DEPT ED

 

US DEPT OF ED/FISL/CH

 

I know it's a collection account, but like I said it's just not listed in the 'collections' section.

So who is Van Rue? Are they a self standing CA or do they collect only for SL's? Why do you think they aren't on the credit report yet?

 

 

The Gooch-

I appreciate your advice as well and I'm glad you had a good experience with them. I just don't want to make a move until I know more about them and who they are (see above questions).

 

Thanks.

[Saria]

I know it's a collection account, but like I said it's just not listed in the 'collections' section.

So who is Van Rue? Are they a self standing CA or do they collect only for SL's? Why do you think they aren't on the credit report yet?

 

 

They are an independent CA. If you google "Van Ru" or search this forum, you should find lots of info on them. They're not on the credit report because with SLs, the CA is never on the credit report. Only the lender and the guarantor.