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Found 16 results

  1. Good evening and happy holidays to all - My federal student loan went into default and I started getting garnished in Feb. 2014. The loans report as 4-6 separate line items on my credit that are bad debts. Since I am essentially paying the loan monthly, shouldn't the collector (DOF sold the account) be reporting the payments to the collection agency? Right now, it's still listed as simply bad debt. Thanks for any help or guidance you can provide.
  2. I am so happy I found this board. Background - I am 27 years old, I live in the USA (midwest), and I have suffered from severe depression for most of my life which hit particularly hard in my early 20s. During my 20s I screwed my credit up royally. Suffering from depression and anxiety, I just never paid bills (credit cards, loans, etc) and have let my debt rack up to the point where I have creditors calling my cell phone and my parent's house daily and I receive mail that I just throw away because I already know it's a debt collection letter. I have about $40K in student loans and I never g
  3. Hello all, This is my very first post on any forum anywhere! I just turned 30 on Monday and this is what I'm doing now, lurking and posting on credit forums. LOL! I have terrible credit. My EX reports 5 baddies and 0 positives. My FICO is in the high 520's. I am still yet to pull other CRA reports. I am very excited about embarking on this journey to fix my credit. I have a defaulted SL. Last year I had my tax return intercepted and now its time to face the music. I have a few questions before I arrange payment. The owed amount is around $2500 I don't have an exact amount yet because
  4. Hi all, I'm 24 years old with student loan debt. I've got $20,000 worth of loans consolidated and another $17,000 of private loans from Sallie Mae that have gone into default as of July 31st. The debt collector has offered me a settlement of $9,600 but at the moment I cannot pay this. I have finally landed my first professional job where I'll be making $48,000 annually. However, I cannot pay the $9,600 at the moment and by the time I can save up that amount working it will be too late. My credit score is so bad from missing all of my payments that obtaining a line of credit to pay off the
  5. A collections agency contacted me about a forgotten student loan then went into default. I have also asked them for information on the account. I acknowledge the debt, but I have questions about dealing with the collections agency: 1) Is it possible to negotiate a lump sum payment for less than the full amount? If so, how can I go about doing this? What % of the amount owed should I be willing to settle immediately? 2) I don't have the entire amount available, but I am interested in avoiding having to make monthly payments with additional interest if possible. However, if I have to
  6. My Student Loans are in Default now for almost 6.5 years, my last payment was in 2008 and they went into default and now The original loans which were from Nelnet/Wells Fargo sold to ECMC who has hired some collection agency they keeps calling me, I have no income, no job nothing and cant pay anything but theyre saying that they will sign me up for the William D Ford program and I wont have any payments, it goes off my tax returns and if i dont file tax returns all I have to do is sign a paper that says im not working every 12 months and will never have a payment, sounds too good to be true an
  7. Does anyone know if defaulting on a contract to build a new house affects your credit rating? We had signed a purchase agreement on a new house but the workmanship on the house has been really bad and it failed an independent pre-drywall home inspection, the builder is refusing to fix issues, so we are thinking of walking away and defaulting on our contract to buy the house. But I was worried this would impact our credit.
  8. Hello all! This is my first post I have South Carolina Student Loans that were in default. My state income tax refund this year paid them off entirely. What can I do to have some of the negative information reporting on my credit updated to show this was paid in full? I'm worried it will not update because it was paid through tax garnishment. Does anyone have information or experience in this regard?
  9. Hi, Im still in school and my student loans- Which Originated with Wells fargo and has been transferred serveral times- Are currently listed with PAST DUE 90 days!! HOW CAN THIS BE? I need assistance on how to effectiviely dispute these past due items because they're having a negative effect on my scores. HELP
  10. I think I got the title wrong but I don't know how to edit it, it should read: First day of default being reported as first day of delinquency I have 3 loans with Department of Education, originally they were Direct Loans in 2007, now they are called Direct Stafford Subsidized. I have consolidated them last year, they show "paid collection" as of now. Also, these 3 loans share the same first day of delinquency since I never paid for them once they got out of forbearance initially (other than through tax offset). Now, the problem with the first day of delinquency. I am waiting for t
  11. I've been reading through these forums, with some hope that I can turn my life around. I'm in my mid 40's, got my master's degree later in life and have what I believe is a daunting amount of loans, none private. The amount is $95k or so and that is with paying out of pocket for my first two years of undergrad. I have a severe learning disability that prevented me from being accepted for a master's program at public institutions so I was forced to go with the one private one that did accept me. I graduated, but have struggled to make a liveable wage, until now. Lucky me, I now make the most I
  12. So I have finally started taking the steps to repair my credit from my younger years of irresponsibility. One nagging problem on my credit report is a old Private Student loan that I had that has been in default for almost 1 1/2 yrs now. They have not garnished any wages or taken legal action as of yet, or even requisitioned my tax return last year. When I spoke with them early Jan 2012 they were completely uncooperative and refused to accept any terms except the ones they were setting forth. The original loan was through AES and is now with a CA whom I spoke with. They basically told me
  13. Need help on my wife's student loans. I have read most of the posts here that I could and I'm still unsure of the proper way to get the student loans under control. We are aiming to clean her credit and this is the last item left. She started on rehad with the collection agency last year but stop 4 months after financially we could not make the payments any more. We should have called and asked for income based payment for lower payment, if we had know at the time I've read to its better to rehad first and then consolidate your loan once out of rehad. But I heard that you only get one
  14. Good day! My son attended the Art Institute in Philadelphia which he took out a loan for with the help of my mother; she cosigned for him. During his time in school (which he took longer to graduate than anticipated) we never received any notices regarding repayment and interest; not sure why, but because I am a student with loans and don't receive notices it didn't seem odd. Right before it was time for him to complete his internship we began to get notices that he was going into default for nonpayment. Again, I am a student and have been for the past 10 years (working on my PhD) and have
  15. Hello Everyone My direct loans went into default in april of 2012. In January of 2010 i enrolled in grad school and my enrollment was the following: Spring 10 3/4 Fall 10 half time Spring 11 half time Fall 11 didn't attend due to injury Spring 12 part time Fall 12 full time I thought I qualified for in school deferment, in addition I am a teacher in a shortage area as designated by the U.S. dept of Ed, which qualifies me for education related deferment ( for the fall 11-spring 12 when I didnt meet the half time requirement). Based on this information wi
  16. Hello all, I am attempting to tackle my defaulted student loans this Monday and I was looking to get some advice before starting. I had a loan through Direct Loans and it was deferred. After deferment I did not make payments and it went to default. They sold it to a company in NY called Conserve who have been attempting to contact me. I am currently unemployed but I recently got a freelance job which pays me $200 a month. I want to enter rehabilitation. My loans are ~15k but with interest and fees I owe ~21k. I know that rehab is typically 1% of what you owe but I cannot afford that.
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