I took out smallish student loans in '02 and '03. I entered repayment in late '04 and stopped paying in '05, putting me into default sometime in '05-'06. I was in a deep clinical depression and did not answer my phone or fetch any mail, so I have no idea what correspondence was sent to me.

Through all of '05 and '06 I ignored any communications and made no payments. I was unemployed at this time - I got a job at the beginning of '07 and they started garnishing my wages in November '07. I still have the same job. I've finally decided to try to tackle this problem. Here's where I stand now, according to NSLDS and my credit report.











I have gone through and read all of the stickies and FAQs posted here and in the newbie section. I feel overwhelmed and lost. What should I do? I have enough money saved to pay the $753 in one fell swoop with no problem, but I don't really know what the best thing to do for my credit is. I wouldn't even know who to call or HOW to make that payment. Can anyone help?

Texas Guarantey is the current holder of your loan although a CA may be assigned to it. Call them and they will give you the payoff. Keep in mind that collection fees will not be reflected on NSLDS or your credit report and you are legally responsible for them.

In terms of your credit, there is not much you can do. It looks like TX paid your claim 10/05 and it will be 7 years before they drop off.