default AES loan

[ybbut99]

ok so i get a call today from an attorys office saying that they had purchased my default student loan from aes. this was quite shocking to me since i havent recieved anything in the mail from aes in sometime. i knew i was behind but not that far for it to be defaulted. my questin to anyone out there that could help me is simply this. IS IT STILL POSSIBLE FOR ME TO REHAB MY LOAN WITH AES EVEN THOUGH THIS ATTORNY BOUGHT MY LOAN FROM AES??? after i got off the phone with the attorny i called aes to see what was going on. i told her the situation but all she could tell was to talk to the attorys office. this guy want me to py him $11,500 tommorrow!! the woman at aes said it defaulted earlier this year and she also stated they stopped contacting me in november of 2009. anyone out there with anything that could help me would be greatly appreciated.

thanks,

ybbut99

[ybbut99]

bump

[snowpuppy]

Is this a private or a regular, federally backed student loan?

[ybbut99]

it is a private loan. its a Teri loan

[snowpuppy]

it is a private loan. its a Teri loan

 

 

Teri offered both private and federally backed student loans and is currently defunct.

There is no provision to 'rehab' private loans like you can rehab with government backed student loans.

Most companies that offered consolidation of student loans are out of business.

Saria posted some companies on another thread but I'm sure they want pristine credit to consolidate.

 

The attorney can ask all they want, they are bullying you into paying up. Has the attorney sent you anything in the mail ?

I doubt the attorney 'bought' anything.

 

You can politely ask for the attorney's contact info (if AES didn't give it to you) and send the attorney a dv letter.

It will buy you a little time.

In the dv letter you can ask them to only contact you via mail and not phone calls.

Edited August 21, 2010 by snowpuppy

[ybbut99]

the attorney hasnt actually sent me anything in the mail as of yet. he called me again today to see how im gonna make good on the amount owed. it was funny to because the amount he told me just the night before has already gone up by a little over $3.00. so while i was talking to him i asked about setteling for a lessor amount. i just threw out 5600 which was roughly 50 percent of what i owed and he kinda laughed and said theres now way the lendor would take that. he then told me he could do somewhere in the ballpark of 9000 which was closer to 90 percent. he also keeps stating that my account with him is in the pre legal dept and that it must be takin care of before the end of the month. when i ask him what that meant all he would say is that they would take it farther.

 

after speaking with him i called aes 1 more time. the said they have no record of me on file anymore due to the fact that this company had "bought" my default loan. wtf!!! i tried calling Teri but had to leave a message and havent heard back from them yet.

 

ive gotta a questin though........ what is a (dv letter)?

Edited August 21, 2010 by ybbut99

[snowpuppy]

the attorney hasnt actually sent me anything in the mail as of yet. he called me again today to see how im gonna make good on the amount owed. it was funny to because the amount he told me just the night before has already gone up by a little over $3.00. so while i was talking to him i asked about setteling for a lessor amount. i just threw out 5600 which was roughly 50 percent of what i owed and he kinda laughed and said theres now way the lendor would take that. he then told me he could do somewhere in the ballpark of 9000 which was closer to 90 percent. he also keeps stating that my account with him is in the pre legal dept and that it must be takin care of before the end of the month. when i ask him what that meant all he would say is that they would take it farther.

 

after speaking with him i called aes 1 more time. the said they have no record of me on file anymore due to the fact that this company had "bought" my default loan. wtf!!! i tried calling Teri but had to leave a message and havent heard back from them yet.

 

ive gotta a questin though........ what is a (dv letter)?

 

A 'dv' letter is debt validation.

Read over in the credit forums for newbies.

 

No attorney has a pre-legal department. A 'company' bought your loan? What company?

If in fact the debt was sold, why would the original creditor care what it's settled for?

So, there was no attorney that bought the loan, then?

 

That's why we stay off the phone and limit our contact to regular mail, sent certified with a return receipt.

When he calls again, ask him to simply put his information in the mail to you and you will be getting back to him shortly.

Edited August 21, 2010 by snowpuppy

[ybbut99]

The company that bought my loan was in fact the attornys office of Weltman Wineberg and Reese.

"why would the original creditor care what its settled for?" I was wandering the same thing.

 

I also should of stated in a previous post that im not the only one on the loan. My father was the co-signer. Im tring everything in my power to keep him from getting involved. The attorney thats calling me keeps saying that he will go after him since hes the more established person financially and will have the assets to cover the delinquent amount.

 

As far as telling him to send me his information in the mail. I will have exceeded the time frame in which he gave me (aug. 27) to take care of this matter.

 

Ok, so i looked through the "newbie" section on validation but everything that i looked through was for medical billing for the most part. I didnt see anything for student loans. What i took from that though was that witht he validation letter they are pretty much just telling me in writing what I owe and with whom it is owed too. Do I ask for the validation letter over the phone with him the next time he calls or do I ask for his information first? If i do the latter first then do i mail him a request for the validation letter? Sorry for being the "newbie"

thanks again,

ybbut99

Edited August 21, 2010 by ybbut99

[snowpuppy]

The law firm you mentioned has been spoken about frequently here. Do a search for their name in the search box and you can read what others have had to say about them.

 

Read the Newbie Section. If you are reading in medical forums, you are not in the right place.

 

You need not give a care what he told you on the phone regarding his deadline. It's the reason we stay off the phone. When he calls, he needs to send you information in the mail. In writing. Then, you can review it and you have 30 days to respond to his letter which will buy you some precious time.

 

In the meantime, you need to talk to your dad about this as it's a pretty big loan.