Hello,

New to the board and dealing with my loans. I graduated in 97 and have not paid my loans in years. I received a call yesterday from Pioneer seeing that my loan is in default and that they will garnish my wages. They have given my the option of paying 6000 of 8500 in debt in lump sum or in monthly payments. I called the UDOE and they told me that they are their contractor. But when I look at my bill 6000 is actually what is owed to UDOE in loans before fees etc.

What I am wondering is if I should do the lump sum? And if I do can I negotiate the price?

And is it better to pay in one sum or try to rehab or pay monthly? My credit is shot right now and I don't know what the result of doing one or the other is.

Also what should I get in writing from them?

Sorry for the questions but I am clueless and need help......