For the past six months, I have been working with General Revenue Corp. (or GRC) on a student loan that was submitted by my university as a defaulted loan. Technically, there were two loans sent to GRC for re-payment. I am only paying on one and the other loan has not been addressed.
My first question deals with the second loan that isn't being repaid. Can I send them a certified letter asking them to verify the debt? There has been no negotiation on this debt with them and I would prefer to have this one dealt with through another agency, if possible.
My second question deals with the situation that arose within the last month. Six months ago, I agreed to a monthly payment of $240 that would be split into two payments of $120. I was told that after six months, my payment would go down as I was paying for some kind of "deposit" or something along those lines. Last month, I was told that I was making the last payment at that amount and that my payment was going down this month. I called today to verify what my new payment amount was and I learned that my account rep has left the company and that I was assigned a new rep. I also had worked with another "supervisor" last month who is no longer with the company. So, this new "supervisor" informs me that there was no such agreement in place over lowering my payments but he would do it as a favor. So, he said that they would lower my payment to $200. No agreement was in writing. They record phone calls but I was informed that they only keep records for 21 days (I learned this after I told them to re-visit the phone conversations with my previous account rep.)
He then went on a rant about how my account is over 18 months and that they are in jeopardy of having the university pull the loan back. He then attempted to press me to obtain another loan to pay this loan off or to borrow money from family or use a credit card. I told him no. He then attempted to have me send a cancelled check with my routing number so that payments came directly out of my checking. I again said no. I then informed him that I didn't appreciate the antagonism directed at me especially since I was making an effort to repay my debt.
I know that there were shading dealings. I know that I agreed to a payment over a phone with nothing in writing. Shame on me. I probably would have continued with the arrangement as I want to pay back my university, but I don't want to deal with them any longer.
Is there any way for me to correct my mistakes? Am I stuck repaying this loan directly to them or can I work with my school? It was originally for $2000 but when they told me how much I owe them, they said my balance was $2100 - this is after paying for six months at $240!
I look forward to any guidance and hand slapping.
