Rehabilitation 9th payment paid, CA trying to force consolidation to rehabilitate the loan

[helpmewithcredit]

I put this topic on the wrong forum. I thought I would link it here unless an admin can move it over. General Revenue Corp tries to force people with Sallie Mae loans that are ready to be rehabilitated to consolidate and actually refuses to allow you to move forward unless you consolidate. They are sitting on these loans making you pay longer than the 9 payments telling you that there is no other choice. It's not true!!! Anyone else experienced this? Read from the link: http://creditboards....1

Edited February 29, 2012 by helpmewithcredit

[LynnInMN]

If you look thru the forums, there are problems with rehabs going thru right now. They cannot force you to rehab but if it is caught up in the loop like other peoples loans are, you could be waiting several more months. Keep making your payments.

 

The CA's get paid MORE for rehabs than consolidations...DK why they would stall. Also they are graded on rehabs submitted...

Edited March 1, 2012 by LynnInMN

[helpmewithcredit]

If you look thru the forums, there are problems with rehabs going thru right now. They cannot force you to rehab but if it is caught up in the loop like other peoples loans are, you could be waiting several more months. Keep making your payments.

 

The CA's get paid MORE for rehabs than consolidations...DK why they would stall. Also they are graded on rehabs submitted...

 

You need to read the link. Paid 9th payment on Feb 16th, contacted GRC the next day in which they tried to force consolidation (I read a warning about consolidating that way - you lose some options you might have if you do). Can you give me info (link) on how the CA get paid more for rehabs vs. consolidations. I haven't read that. Anyway, immediately contacted DOE Ombudsman who turned around and checked with USA Funds (guarantor) and my loan is already (as of yesterday) bought back by Sallie Mae. So, the problems aren't with Sallie Mae, but GRC. So, my ENTIRE process after 9th payment took less than 2 wks by contacting the Obmudsman at the DOE. I kept his number just in case they don't get everything else done as they should (removing the negative credit, etc).

 

Of course, this isn't the same situation going on with DOE loans. That's another issue.

[running 24/7]

Lynn, what other information do you have such as phone numbers and names. GRC is pressing me to sign Application and promissory note, explaining the loan will not be rehabilited until I sign and return the forms. I have one payment remaining. Can they force me to do this, what recourse do I have?

 

running24/7

 

 

If you look thru the forums, there are problems with rehabs going thru right now. They cannot force you to rehab but if it is caught up in the loop like other peoples loans are, you could be waiting several more months. Keep making your payments.

 

The CA's get paid MORE for rehabs than consolidations...DK why they would stall. Also they are graded on rehabs submitted...

 

You need to read the link. Paid 9th payment on Feb 16th, contacted GRC the next day in which they tried to force consolidation (I read a warning about consolidating that way - you lose some options you might have if you do). Can you give me info (link) on how the CA get paid more for rehabs vs. consolidations. I haven't read that. Anyway, immediately contacted DOE Ombudsman who turned around and checked with USA Funds (guarantor) and my loan is already (as of yesterday) bought back by Sallie Mae. So, the problems aren't with Sallie Mae, but GRC. So, my ENTIRE process after 9th payment took less than 2 wks by contacting the Obmudsman at the DOE. I kept his number just in case they don't get everything else done as they should (removing the negative credit, etc).

 

Of course, this isn't the same situation going on with DOE loans. That's another issue.