I was going to Rehab my SL a while back but was really not happy with the CA they were assigned to. They used some real dirtball tactics so I let them slide for a while. Now they are back with collections department of Texas Gaurantee and I'm negotiating with them.
You know the story... First they demanded the full amount. Then they wanted me to do a consolidation first but I told them no way, I'd like to do the Rehab. They reluctantly agreed and of course wanted a down payment. Again I said no way, my income just can't hadle that right now so they seem to be ok with just the payments. I asked about removing collection fees but they tell me that's not an option. Any way to get them to agree to remove them and how much of them can I get off?
Also a side question. I "might" be able to put together a business deal that could pay out enough to pay off the total amount. Any chance if I offered this that the OL (Sallie May) that they might be willing to remove the negatives from my CR and mark paid as agreed?? Ever heard of SM agreeing to something like that? I hear they are brutal to negotiate with.
Full Version: Finally going to Rehab or...
QUOTE(Raineyday @ Aug 31 2007, 01:47 PM) 
I was going to Rehab my SL a while back but was really not happy with the CA they were assigned to. They used some real dirtball tactics so I let them slide for a while. Now they are back with collections department of Texas Gaurantee and I'm negotiating with them.
You know the story... First they demanded the full amount. Then they wanted me to do a consolidation first but I told them no way, I'd like to do the Rehab. They reluctantly agreed and of course wanted a down payment. Again I said no way, my income just can't hadle that right now so they seem to be ok with just the payments. I asked about removing collection fees but they tell me that's not an option. Any way to get them to agree to remove them and how much of them can I get off?
Nope....FFELP lenders do not waive collection fees.
Also a side question. I "might" be able to put together a business deal that could pay out enough to pay off the total amount. Any chance if I offered this that the OL (Sallie May) that they might be willing to remove the negatives from my CR and mark paid as agreed?? Ever heard of SM agreeing to something like that? I hear they are brutal to negotiate with.
Nope. Sallie Mae is no longer party to the loan and government regs require they report factually. TGLSP will simply report paid or settled collection account. Plus if they waive more than $600, you will receive a 1099 and be taxed on that settlement.
You know the story... First they demanded the full amount. Then they wanted me to do a consolidation first but I told them no way, I'd like to do the Rehab. They reluctantly agreed and of course wanted a down payment. Again I said no way, my income just can't hadle that right now so they seem to be ok with just the payments. I asked about removing collection fees but they tell me that's not an option. Any way to get them to agree to remove them and how much of them can I get off?
Nope....FFELP lenders do not waive collection fees.
Also a side question. I "might" be able to put together a business deal that could pay out enough to pay off the total amount. Any chance if I offered this that the OL (Sallie May) that they might be willing to remove the negatives from my CR and mark paid as agreed?? Ever heard of SM agreeing to something like that? I hear they are brutal to negotiate with.
Nope. Sallie Mae is no longer party to the loan and government regs require they report factually. TGLSP will simply report paid or settled collection account. Plus if they waive more than $600, you will receive a 1099 and be taxed on that settlement.
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