6 replies to this topic

[615lol]

where can i find the general information for rehabbing the loan? i can afford up to 75 a month, want to know what i'm talking about before i call the agency. thanks!

Edited by 615lol, 06 May 2008 - 12:06 PM.

[preezie]

Did you already try with the school first? I know if I have any problems with my account I normally call the university. My school used ACS and that was the company that was simply processing the payments for them.

[LynnInMN]

Did you already try with the school first? I know if I have any problems with my account I normally call the university. My school used ACS and that was the company that was simply processing the payments for them.

Op sounds like he is in default so therefore would not have the option of calling a servicer or the university itself if the account is already assigned to a CA.

OP...Perkins rehabs require 12 on time payments that are deemed reasonable and affordable. You didnt say how much you owe so there is no way of knowing whether $75 is reasonable.

[615lol]

3500, sorry!

i know i'm in default. williams and fudge is the collection agency.

Edited by 615lol, 06 May 2008 - 10:15 PM.

[LynnInMN]

3500, sorry!

i know i'm in default. williams and fudge is the collection agency.

$75 for this size balance should do the trick.

[Over the wall]

Hello 615lol and everyone else on this very informative forum.

I know this is an old post of yours but I am now in the same position as you were then.

I have a Perkins Loan in default with the same collection agency and I am having trouble getting payments set that are affordable.

So far they have only offered to "rehab" my loan by dividing the total owed by 12. Well.. that would be 1000 per month! I can't afford it. They seem to really want me to consolidate it with other defaulted direct loans that I have, but it is much better for me to rehab this one.

Any advice from anybody would be greatly appreciated.

What can I say to them? What can I do?

ps. This is my first post on credit boards so I apologize if this sounds ignorant. It has been many years since I have paid anything on my loans and I want to get things in order. I was very irresponsible when I was younger and let these loans become some kind of insurmountable force. Reading these boards has given me the courage and motivation to contact the department of ed and also the collection agencies in order to get my life back on track. I feel I am close but I need some help.

3500, sorry!

i know i'm in default. williams and fudge is the collection agency.

[HippieAtHeart2]

Hello!

I am in the EXACT same boat with Williams and Fudge. They are pushing consolidation. What did you end up doing??

Hello 615lol and everyone else on this very informative forum.

I know this is an old post of yours but I am now in the same position as you were then.

I have a Perkins Loan in default with the same collection agency and I am having trouble getting payments set that are affordable.

So far they have only offered to "rehab" my loan by dividing the total owed by 12. Well.. that would be 1000 per month! I can't afford it. They seem to really want me to consolidate it with other defaulted direct loans that I have, but it is much better for me to rehab this one.

Any advice from anybody would be greatly appreciated.

What can I say to them? What can I do?

ps. This is my first post on credit boards so I apologize if this sounds ignorant. It has been many years since I have paid anything on my loans and I want to get things in order. I was very irresponsible when I was younger and let these loans become some kind of insurmountable force. Reading these boards has given me the courage and motivation to contact the department of ed and also the collection agencies in order to get my life back on track. I feel I am close but I need some help.

3500, sorry!

i know i'm in default. williams and fudge is the collection agency.