Student Loan CA

[BKinSM]

Hello,

The current CA is more aggresive than the old one. He is requesting me to fill in my "financial status" such as my income, my asset and etc for them to calculate my "rehab" amt.

 

Should I go ahead and fill this up ? Or I should write a ltter to them saying the amount that I am comfortable with. (I am looking at around 100-200/month).

my balance with all the junk fees would be 17-18k now.

 

My main concern is that i put almost 10% into my 401k and 10% in my stock purchase plan....would they want to touch this?

 

 

secondly, The letter also noted that "amount may be reduced". What kind of deal/questions should I be asking?

 

I am alittle paranoid, cause I dont deal with CA. I usually ignore em. But, now I am a little bit ready.

 

 

thks!

[ziggypop]

I had to fill in that form, too, but it was only after they had agreed to an amount, anyway, so it really must have just been a formality, at least in my case. But, since I'm also paranoid, I actually made my own spreadsheet, writing down all of my expenses -- food, utilities, rent (or mortgage, as the case may be), prescriptions, "personal expenses" (cleaning supplies, maintenance, etc.), insurance, etc. I also did write down my gross income, then subtracted out taxes and pension plan contributions. I contributed to a 401(k) type plan as well as a pension plan and they didn't say anything about reducing that amount or about touching it, although they may have asked me how much was in it (I really don't remember). They accepted that form and they didn't ask for proof of any of my expenses at all (I didn't lie about it at all, but, when in doubt, I did round up); I did have to send in pay stubs, though.

 

I had a lot more than you in loans and they agreed to about $500/month, so it looks like you should be fine. I've also heard a lot of people on here say that they were required to pay about 1% of the amount due per month for their rehab and that would be right in the range you're looking for. I know what you mean about CAs (I had the same attitude before all of this!!), so good luck -- I'm sure it will work out!!

[BKinSM]

I had to fill in that form, too, but it was only after they had agreed to an amount, anyway, so it really must have just been a formality, at least in my case. But, since I'm also paranoid, I actually made my own spreadsheet, writing down all of my expenses -- food, utilities, rent (or mortgage, as the case may be), prescriptions, "personal expenses" (cleaning supplies, maintenance, etc.), insurance, etc. I also did write down my gross income, then subtracted out taxes and pension plan contributions. I contributed to a 401(k) type plan as well as a pension plan and they didn't say anything about reducing that amount or about touching it, although they may have asked me how much was in it (I really don't remember). They accepted that form and they didn't ask for proof of any of my expenses at all (I didn't lie about it at all, but, when in doubt, I did round up); I did have to send in pay stubs, though.

 

I had a lot more than you in loans and they agreed to about $500/month, so it looks like you should be fine. I've also heard a lot of people on here say that they were required to pay about 1% of the amount due per month for their rehab and that would be right in the range you're looking for. I know what you mean about CAs (I had the same attitude before all of this!!), so good luck -- I'm sure it will work out!!

 

Hello,

Thks for replying.

Can you tell me what happens to your trade line now?

I had my trade line wih US DOE as "CO" until now. If i went to rehab next month, what would they reported?

When would be my trade line get better?

 

Thks!

[Cheech]

Synopsis of my own sorry tale, which can be read in detail by searching my old posts...

 

I also had to fill out that form for my CA. The CA never reported, but the negative tradeline from the OC remained until my rehab was complete. YMMV.

 

Do a search of threads here - *lots* of people have posted their rehab stories.