Hi Everybody!!

Okay I actually received this a while ago, but was still in the "ignore it and maybe it will go away" phase. Now after delving into creditboards and deciding to take action I just remembered it and upon re-reading it now I'm kinda freaking out. Anyone who can help pleeeeease I need it!!!

Okay so it says that I have an account with Wachovia that has been referred to this law office. They are offering the opportunity to settle this account with a lump payment. It was dated March 4, and it says:

"Unless you notify this office within 30 days after receiving this notice that you dispute the validity of this debt or any portion thereof, this office will assume this debt is valid.
If you notify this office in writing within 30 days from receiving this notice that you dispute the validity of this debt or any portion thereof, this office will: Obtain verificiation of the debt or obtain a copy of a judgement and mail you a copy of such judgement or verification. If you request this office in writing within 30 days after receiving this notice, this office will provide you with the name and address of the original creditor, if different from the current creditor."

Soooo....I know I need to contact them ASAP. What letter should I use? I honestly cannot figure out what student loan this is, as I have three other student loans that I have been paying on. I am somewhat afraid that a previous "friend" of mine used my information to get a student loan (using me as her cosigner) because she did this multiple times to other people including her father.

This is stating an amount that I CANNOT pay in full ($14,000) nor can I pay the judgement. At the moment I am separated from my husband and unemployed, so is there anything I can do??

So, should I send a "not mine" letter, or a simple "please validate" letter?

Please any help you can give me is appreciated!!

Call the CA to find out the details...from the amount it sounds like a private loan. I would not recommend the "not mine" approach...if it is yours, they will end up sueing you quickly.

Have you looked at your CR, are there any account relating to this?

I haven't gotten my CR yet-I just ordered it the day before yesterday. The thing is the thirty days runs out next week. Should I respond by phone or send a request for validation or just wait for a second contact?

Simply call and ask. Your credit report will not tell you if it is a private or federal loan.

Has anyone had any experience doing this?? Are they just gonna say tough luck, pay up?? Or will they actually work with me?? I'm scared to call and then receive a judgement against me a week later or something.

You could also try logging in to the NSLDS. If the loan is listed there, it's federal. If it's not, it's private.

Does it make much of a difference if it's federal or private? I know with my other loans the federal ones were much more willing to work with me, but other than that I think I'm screwed. I'm pretty sure if it's gone this far they will not set up payment plans right? Because there is absolutely no way that I can pay it all of.....guess I'll just have to call and find out.

Yes, it makes a big difference. If they're federal, they have to give you the opportunity for rehab. If they're private, you might have a much harder time making arrangements. It's also helpful to know if you're subject to administrative wage garnishment, or if you'd have to be sued before they could garnish. Find out what kind they are.

I was able to find out through some more investigation that they are private loans-from Wachovia.

I haven't called them yet, I did some looking into it myself. When I call them should I just be open and honest that I am currently separated with no income and hope they take pity on me??

Sorry if I sound desperate and lost....but I am!!

Thanks for the help!!

I just posted about my latest call with a CA about my private SL. They wanted me to send in a payment almost as much as my monthly income and to default on my other loans/credit cards.

They don't care....