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Scrappycoco

Never paid my student loans- got an email from a CA

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After finishing college I was not able to find any job, until a month ago. So I am barely getting on my feet and paying student loans is not my priority. However, I am trying to decide what's best for the future and develop a plan.

I don't care about my credit score - my low credit score keeps me from getting sued by about 10 different CC companies.

I got this email from a CA- I think they want money. Do I work with them or with my school or with department of education? Does this email sound like they want to screw me in the flowers?

 

 

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"We are attempting to contact you with NCM in reference to Arizona State University. You have a defaulted Perkins Loans for $10,248 dollars. The balance is due in full, we accept Visa Mastercard or personal check.

Most people cannot afford to pay the balance in full so a second option is to consolidate with Department of Education. We will consolidate this Perkins loan with your Department of Education loans and after 30-45 days the loan will be out of default.

You will have all options on your loan including a deferment and title IV funding to go back to school. Your credit will be updated as paid and have a new and current trade line. Your new payment plan will be based off you income rather than the loan balance.

I can forward the application to you and get the process started. If you have any questions email or call me at 1-800-333-3169 ext 216.

This is an attempt to collect a debt. Any information obtained will be used for that purpose.

Nicole Edwards

Financial Counselor

800/333-3169 ext 216

National Credit Management, Inc.

10845 Olive Blvd, Suite 210

St. Louis, MO 63141

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What do you guys think? Should I give her my address?

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This is a much bigger issue than your parking ticket.

 

Perkins loans are federally backed student loans. Why you didn't put them in an unemployment deferment along with your other loans where the feds would have paid the interest on them for up to 3 years is anybody's guess. They can and will garnish your wages from your new job in short order as this is a federal debt.

 

It is a legit offer. While it does establish a new tradeline, the late pays are not going to go away. They'll remain on your credit reports.

 

If you believe 'they don't know where I work', if you filled out an I9 to verify your eligibility to work in the US, that info is reported within days to Social Security and then to IRS. They know.

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I appreciate your response Snowpuppy. The reason I didn't bother with paying my student loans is that I literally lived in a van by the river. I had no address or internet or money to pay. I was broke for two years and assumed they would not be after me since there was nothing to collect.

The question is now : do I go with a CA offer or do I contact someone else and arrange to make payments?

 

I don't mind making payments, I just don't want to feed collection industry. Plus I always hear bad things about CAs. They make money somehow on poor people.

I would rather pay myself than them!

 

I hear talk about consolidating and rehabilitating loans, is that something I should be doing?

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Even if homeless, you can qualify for an unemployment deferment for up to 36 months total.

 

If you consolidate with the Dept of Ed, you will lose all the provisions of any cancellation with your Perkins loans. If you are working in a profession that allows cancellation such as teaching or other public service, never consolidate these with other loans.

 

If you don't care about the cancellation provisions, then talk to Direct Lending about consolidation and then an Income Based or Income Contingent repayment plan that will help you lower your payments, at least temporarily until you get on your feet again.

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Yes, Snowpuppy is correct - You need to tackle your Perkins loans ASAP before the balance gets any bigger. I highly recommend you consolidate with William D. Ford Federal Direct Loan Consolidation.

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Did anyone ever deal with “University Account Services”? Few years ago I went to one of those for profit colleges and since I couldn’t find a job with the fake degree I got from them I ended up defaulting on my student loan. I was able to make payment two years ago and finally rehabilitated my loan. I still receive a bill from University accounting claiming I owe $2000 to that “College”. I strongly believe that I was the victim of a scam, and that the advisors in those for-profit colleges are trained scammers who would accept anybody as long as he can sign his name on a contract. I learned that University Account Services is a bill collector often used by colleges to collect on a debt. The last payment I made on that bill was five years ago, which means the statute of limitation has already expired. Enrolling in that “college” was the worst mistake I have ever made and I certainly don’t want to pay them a dime if I legally don’t have to. Could someone tell how to proceed in order to make sure whether it was a written contract (SOL 5 years) or a promissory contract (SOL 6 years)? Is there a way out of this? Once I know for sure is it possible for me to send a “cease and desist letter” never to be annoyed by them again?

 

Thank you for your advises

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