I've done a lot of reading in this forum about people working on rehab, but I'm still a little unclear on how to take the first steps. If this has been covered in detail elsewhere, feel free to point me in the right direction!

I retrieved the information on my loans from the NSLDS website. It shows the servicer, lender, and guaranty agency are the same for all of the loans (except for the Perkins loan, which says "none".) So which of these three do I contact to begin rehab? And what should I expect when dealing with them on the phone?

Current Servicer: SALLIE MAE, INC.
220 LASLEY AVE
WILKES-BARRE, PA 18706
888-272-5543

Current Lender: CHASE USA TRUST/SLMA TRUST MS1814
11600 SALLIE MAE DR,DEB SOUTHERLAND
RESTON, VA 20193-0000
888-272-5543

Current Guaranty Agency: USA FUNDS, INC.
P.O. BOX 6180
INDIANAPOLIS, IN 46206-6180
888-272-5543

Thanks in advance for any guidance!

My first question would be ... are you in default?

Sorry - yes all the loans are in default!

OK, then you should start by calling your guarantor - in this case, USA Funds. You should expect them to try to get you to pay the loans off, borrow money from someone else to do it, take out another loan, etc. When that fails, they will try to get you to give them a down payment, agree to terms that are more than you can afford, and generally act like a collection agency.

However, the good news is, once you let them know you're informed and you know what to expect as far as rehab goes, they become considerably easier to work with.

How long have your loans been in default?

Thank you, TxQuiltGirl - that's pretty helpful so far!

According to the NSL site, they defaulted 11-14-2003
The Perkins loan lists as defaulted three times, the last time being 02-01-2004

For the Perkins loans, contact the collection department of the school that you attended. They can help you!

Will I need to negotiate with them too? ex. waving interest, paying a settlement, monthly payments?

Possibly...if it has been assigned to a CA, you will have to work thru the CA. Dont expect much of the interest to be waived. They will normally waive the collection fees but not much of the interest. If you take monthly payments, nothing is waived. You can also rehab Perkins loans too!

LynnInMN thanks very much for your help!
Here is the Perkins Loan Servicer/Lender/Guaranty Agency Information from the NSL site. Does this show that it is not in collection, and that there won't be collection fees?

Current Servicer: No Servicer for this Loan
Current Lender: No Lender for this Loan
Current Guaranty Agency: No Guaranty Agency for this Loan

Here are more details about the loan from the NSLDB. Why does it show no outstanding interest balance? Does this mean I only owe them the principal? (My EX report shows the "Recent Balance" as $5,766 as of 09/2005)

Loan Amount $6000
Outstanding Principal $5766
Principal bal as of Date 8/24/2000
Outstanding Interest Balance $0
Outstanding Interest Bal as of Date [blank]
Interest Rate 5%
Canceled Amount $0
Canceled Date [blank]

Statuses:
DF 02/01/2004
RP 05/01/2003
DF 12/01/2002
RP 09/01/2001
DF 06/01/2001
RP 03/01/2000
ID 07/01/1997

Finally, if i want the negative TL about the Perkins loan removed from my EX report (the only place is showing up for some reason) do I need to rehab, or could I negotiate removing the TL it within the terms of a settlement?

Thanks again!!!