Hey a quick question,

I have been recieving letters from these guys (General Revenue Corporation) for like a year now and i have been paying them. They said that I was in default on a perkins loan. I just recently graduated from school and I don't understand how this is accurate because I would have still been in my grace period.

Anyhow, does anyone have any ideas where to start with this. The original collector (CMPPTNRS/BLoomsburg University) is positing a negative TL on my credit report not GRC. IT says that I am now current, was a collection account. I am assuming a collection account with GRC.

Now the saga begins. I contacted the original collector several months ago (before finding u guys) by phone and they said that as of May 12, 2004 my account was no longer considered a collections account. However, GRC has no knowledge of this. So.... I have been paying both OC and CA and they both have different due balances!


Any help would be greatly appreciated! Ima newbie

A twist on your scenario...
I had a Perkins loan I started getting letters/calls from General Revenue. Deal with them while you can, because once they assign/sell them to Williams & Fudge, it becomes an even bigger nightmare. I realize that they shouldn't have even been trying to collect on your loans, but try to get it worked out before they send it to the sharks!

I tried to go back and deal with the school. The school tries to pass me off to GRC, but they never fully validated. The school refused to enter rehab with me unless I would pay 4x the original quarterly amount due (illegal...I now know). GRC kept insisting on $1,000 down, and $150/mo., which I couldn't do. I sent a limited CD letter, and didn't hear from them again. Until...

Fast forward to 7/04 when I found this board, and decided to become more knowledgable about credit/student loans/mortgages. I pulled my reports, only to discover that GRC and W&F had done hard pulls for my Perkins loans. That's when I discovered that there was a collection on my reports in the University's name. For some reason, the Perkins is on my report in the school's name, but I haven't figured out why. (I'm not asking, because I'd rather have it show a $1,000 collection, not $5,000 like the CA is trying to get.)

Right now neither GRC or W&F seems to know up from down. I get partial validation (last pages of the loan docs), but neither has shown they have the right to collect, can tell me whether it's assigned/sold. I do know that W&F is much nastier and intimidating than GRC.

You might want to go to www.ed.gov and pull up the info on the Perkins grace period of 9 months and then also gather info from the school stating when you finished. Don't volunteer this info to GRC, but keep it handy to help to prove that they were trying to collect during your grace period. Also, it may get to the point that you have to involve the Dept. of Ed. Ombudsman's office if the school and GRC can't straighten this out.

FYI--
*GRC pulled EX 7/02, TU 3/03, EX 11/03 EX 7/04and Williams & Fudge pulled EQ 11/03, EQ 7/04
*There are some ways to have up to 100% of these loans cancelled if you work in certain fields...check into it.

Do you have a copy of the letter that you sent? That would be helpful if you do thanks so much in advance

I pieced together a letter from the forum. You might want to start reading up on GRC in the student loan forum as well, because student loan collections are a bit different than dealing with other creditors. Here's the DV and limited CD letter that I sent to Wms. & Fudge, as I keep most of my letters at my office. (Feel free to PM me as a reminder, and I'll pull up the GRC letters on Monday.)

September 8, 2004

Williams & Fudge, Inc.
775 Addison Ave., Suite 201
Rock Hill, SC 29730

Re: ___________ University, acct. _________
Sent via Certified Mail: 7003 2260 0002 0457 ____

To Whom It May Concern:

This is not a refusal to pay, but a notice that your claim is disputed. Under the Fair Debt Collections Practices Act (FDCPA), I have the right to request full validation of the debt you say I owe you.

Please also be advised that this letter is not only a formal dispute, but also a notice that Williams & Fudge and/or its affiliated agencies may only contact me through the United States Postal Service. I require compliance with the terms and conditions of this letter within 30 days or expect a complete withdrawal, in writing, of any claim. Once you respond, I will have 30 days to respond to information provided by you.

This will serve as your legal notice under provisions of federal law, the Fair Debt Collection Practices Act (FDCPA), to cease all communication with me except by US Mail.

Please note that I am also in contact with the US Dept. of Education and their Ombudsman’s office regarding the alleged debt.

Sincerely,

Your name here
................................................................. ................................................................ ...............................................

Debt Validation Form (to be returned along with documents requested above) to:

name, address, city, state, zip

Account #: ____________________

Original Creditor's Name: ___________________________________________________________________

Name of Debtor: __________________________________________________________________________

Address of Debtor: ________________________________________________________________________

Balance of Account: _______________________________________________________________________

Date you acquired this debt: _______________ The alleged debt was: assigned ___ purchased___

Credit bureau(s) inquiries and/or bureau(s) reported to on this account: Experian___ Equifax___ TransUnion___

Upon failure or refusal of collector to validate this collection action, collector agrees to waive all claims against the debtor named herein and pay debtor for all costs and attorney fees involved in defending this collection action.

X________________________________ _________________
Authorized signature for Collector Date

Please return this completed form and attach all assignment or other transfer agreements that would establish your right to collect this debt. Your claim cannot be considered if any portion of this form is not completed and returned with the required documents. This is a request for validation made pursuant to the Fair Debt Collection Practices Act. If you do not respond as required by this law, your claim will not be considered and you may be liable for damages for continued collection efforts.