Student Loan and Credit Report

[v_1dlivi]

I am just wondering on how to proceed with this. CR shows "US DEP ED" Closed / Paid Charge Off.

 

No other marking for Education or a Creditor with that amount. But I am having my money taken out. Talked to HR and got the below information.

 

My question is: Is there any way to either get "US DEP ED" not to show as "Paid Charge Off" since I am paying... or do I need to get Van RU... which may add them to my CR.. which I don't want to happen!

 

Please Help

David

 

--- Letter ---

The garnishment is from the U.S. Department of Education for a student loan.

 

Payments are sent to:

 

U.S. Department of Education

National Payment Center

P.O. Box 4142

Greenville, TX 75403 75403-4142

 

Inquiries should be directed to:

 

Van Ru Credit Corporation

P.O. Box 1027

Skokie, IL 60076-8027

 

 

 

Contact Name: <Name> <phone number> email FSA.AWG@ED.GOV

 

Credit Agency Tracking No.: <number>

[LynnInMN]

Since your loan is a default and a government claim paid, you do not get credit for making payments, particularly when you being garnished. Neither DOE or Van Ru will change this.

[fla-tan]

I am just wondering on how to proceed with this. CR shows "US DEP ED" Closed / Paid Charge Off.

 

No other marking for Education or a Creditor with that amount. But I am having my money taken out. Talked to HR and got the below information.

 

My question is: Is there any way to either get "US DEP ED" not to show as "Paid Charge Off" since I am paying... or do I need to get Van RU... which may add them to my CR.. which I don't want to happen!

 

Please Help

David

 

--- Letter ---

The garnishment is from the U.S. Department of Education for a student loan.

 

Payments are sent to:

 

U.S. Department of Education

National Payment Center

P.O. Box 4142

Greenville, TX 75403 75403-4142

 

Inquiries should be directed to:

 

Van Ru Credit Corporation

P.O. Box 1027

Skokie, IL 60076-8027

 

 

 

Contact Name: <Name> <phone number> email FSA.AWG@ED.GOV

 

Credit Agency Tracking No.: <number>

<{POST_SNAPBACK}>

 

David

 

While it will not stop the garnishment, you will want to contact Van Ru and talk to the collector about rehabilitation. The only way to get the default rating, and with Direct Loans, the accompanying late payments is to rehabilitate your student loan(s). This can be done in conjunction with the garnishment. The CA is required to allow you to make a reasonable monthly payment that would allow you, after 12 consecutive on-time payments, to bring your loan back into good standing. (It may actually take up to 14-15 payments before you are actually rehabbed since the loan has to be resold back to the original lender/servicer). I would strongly suggest that you do some reading through some of the other threads that have dealt with defaulted loans and rehab. The CA may well offer to consolidate/reconsolidate your Direct Loans out of default. DO NOT ACCEPT!!! If you consoidate out of default, the default will stay on your credit report for seven years from the date of consolidation and will keep your scores tanked for several years.

 

Good luck with your situation.

 

 

fla-tan