No Rehab?

[minnie mouse]

Hello all,

 

I recently obtained a forebearance from Direct Loans (US DOE on my credit report). My loan had defaulted once w/Wells Fargo, again w/Texas Guaranteed. I've spoken with 2 different representatives at DOE. The first told me that DOE was the same entity as Texas Guaranteed. The second told me it wasn't and that they don't have a rehab program. Do I no longer qualify for a rehab program?

[Saria]

Confusion about who's who aside, if they granted you a forbearance, you're not in default. If you're not in default, you can't rehab.

[minnie mouse]

So should I let it default again to get a rehab?

[Stryker]

So should I let it default again to get a rehab?

 

What are you looking to gain with rehab?

[LynnInMN]

Hello all,

 

I recently obtained a forebearance from Direct Loans (US DOE on my credit report). My loan had defaulted once w/Wells Fargo, again w/Texas Guaranteed. I've spoken with 2 different representatives at DOE. The first told me that DOE was the same entity as Texas Guaranteed. The second told me it wasn't and that they don't have a rehab program. Do I no longer qualify for a rehab program?

 

DOE and Texas Guaranted are definately not the same thing. DOE is the Direct Lending and Texas is a FFELP lender. However if you are not in default, you are not eligible for rehab. And no you do not want to default to get into rehab.