Private Loan - Being Sued - Confused

[SH524]

Hi everyone, I'm new to the boards and have been doing alot of reading but am very confused about a private student loan I'm getting sued on. After the OC attempted collections, the loan then went to NCO Financial Systems, and is now with a local collection attorney. I would like to set up payment arrangement to pay back loan but I am confused who now owns my loan. The attorneys office state it is th OC but my credit report states it was transferred/sold to NCO. I am just trying to figure out who I can negotiate with.

[LynnInMN]

Hi everyone, I'm new to the boards and have been doing alot of reading but am very confused about a private student loan I'm getting sued on. After the OC attempted collections, the loan then went to NCO Financial Systems, and is now with a local collection attorney. I would like to set up payment arrangement to pay back loan but I am confused who now owns my loan. The attorneys office state it is th OC but my credit report states it was transferred/sold to NCO. I am just trying to figure out who I can negotiate with.

 

 

Student loans are never sold. The OC still owns it.

 

If it is now with a local collection attorney, you will be sued, even while you are making payments. That is how private loans do business. If you dont pay it off or settle it, make sure you get a stipulated judgement.