Rick1971

Thanks Snowpuppy! I got a call from the attorney’s office at my job a few minutes ago. She said that her client wanted her to call me. I told her that I wanted to rehab the loan. She stammered and said that she didn’t think that was an option since the loan is now in litigation. I said that my understanding is different and that is the route that I intend to pursue I then asked who her clients are [RAB the collections agency or the University]. She said both and asked me NOT to contact them directly. Any thoughts as to what step to take now? Sorry, I’m kinda new at this. Thanks so much in advance!

Thanks Snowpuppy! I got a call from the attorney’s office at my job a few minutes ago. She said that her client wanted her to call me. I told her that I wanted to rehab the loan. She stammered and said that she didn’t think that was an option since the loan is now in litigation. I said that my understanding is different and that is the route that I intend to pursue I then asked who her clients are [RAB the collections agency or the University]. She said both and asked me NOT to contact them directly. Any thoughts as to what step to take now? Sorry, I’m kinda new at this. Thanks so much in advance!

I have a Perkins Loan that went into default status on 9/30/2011. The original amount was $3000; which was taken out to cover the costs for attending an on-line Masters Program for Union Institute and University. I did some research and checked the DOE website and sure enough it's there. The University still owns the loan and the DOE has not subrogated (taken over) it yet. <BR style="mso-special-character: line-break"><BR style="mso-special-character: line-break"> I recently contacted the financial aid department to discuss the possibility of Rehabilitation of the loan….I was directed to contact a collections company Regional Adjustment Bureau to discuss rehabilitation. He told me that I would hear from them [otherwise I should call them]. The next morning I was served court paper by the county Marshal. I am being sued for the loan/plus court costs. Hmmmm…. they ARE quick aren't they?? My question is what should my next steps be and how should I approach things- I think that Rehab is my only option? My research suggests that this IS a viable option …. Is this true and if it is, how do I go about effectively negotiating reasonable payments?? Do I negotiate with the CA? The school? From what I have been able to find RAB is a 'typical' CA and they can be a bit 'slimy' so what are the 'rules of engagement'? Can I consolidate? What will happen if I do this and how do I begin that process? I am waiting to hear any responses before I proceed. Thank you for any assistance that you can provide.