I need to know how much my consolidated loan was sold for

[Wilson128]

I would like a written statement telling me how much the loan was sold to AES/RAB for. Of course AES or RAB won't tell me.

Please advise.

[snowpuppy]

I'm assuming it's a federally backed loan because it is a consolidation?

 

AES is a servicer and doesn't purchase loans. If it's a federally backed SL, you probably don't have much room to negotiate a payment plan.

 

Was it in default? Can you rehab? Do a new consolidation?

[Wilson128]

I'm assuming it's a federally backed loan because it is a consolidation?

 

AES is a servicer and doesn't purchase loans. If it's a federally backed SL, you probably don't have much room to negotiate a payment plan.

 

Was it in default? Can you rehab? Do a new consolidation?

 

I'm doing a new consolidation. Thanks.

Today I've found http://www.ombudsman.ed.gov/ to be a great resource (especially if you are in default )

 

The only other issue is: Once I start making payments (and the loan is paid, it's a consolidation) the loan will appear on my CR as "defaulted loan paid in full". Can I write the CRAs to have that removed? Or would that stick for 7 yrs?

[snowpuppy]

If you are looking for loan amounts to list for your consolidation with Direct Lending, you can find every federally backed SL you borrowed at:

 

www.NSLDS.gov.

 

you need your US Dept of Ed pin # to log in. To get that, go to:

 

www.pin.ed.gov

 

Consolidation is the fastest way to get your loans out of default and get them off your back. If you rehab, you will have 9 months of payments and that will lessen the impact on your credit reports. If you can't swing the payments for rehab, then consolidation is your answer.

 

The Ombudsman is a great resource but they are a last resort. They will require you to provide them with info on what you did to first try to solve your issues before they will review.

 

Once you have a consolidation, it is a new loan so you will have 3 yrs of unemployment deferment and other benefits of a new loan.

 

HTH!