Some Good Student Loan News
Posted on: May 5, 2009 by Matt
Shortly before leaving for vacation I received a check back in the mail from the student loans I have in collections. I opened the letter and discovered that back in March my payments started to be rejected. I was nervous anyway just because I had not seen the payment post in my bank account but now I had confirmation.
I called the number for the servicing company and was referred back to the original guarantor of the loan. I then called the original loan holder and left them a voicemail as well as the collection agency that had been processing my account. I was hopeful that something had changed for the better and I may now be able to work out a rehabilitation program with the original lender to get my life back on track.
While we were away on vacation (see the photo, not taken by me but in the area we were – lovely place) I received a voicemail from the original lender noting that they no longer use the processing companies I had been working with and that I should now send all future payments to a new address. I have since returned their call and left another voicemail inquiring about possible rehabilitation options and am waiting anxiously to hear back.
If we are able to work out an agreement to rehabilitate the loans I think I may just be overjoyed. These loans have followed me around for about 7 years now in a state of collection or default and I have not had any options to rehabilitate them like a federal loan. I know it is my fault for messing up and letting the loans get to the point they are at but do want to clear them up. I guess now about all I can do is wait for my phone to ring – if it does I may post an extra update here to let everyone know how my luck turns out. I think my current attitude is of cautious optimism.
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TagsCollections, Debt, Debt Reduction, Future, Goals, Personal Finance, Planning, Student Loans Filed Under: Collections, Debt, Debt Reduction, Student Loans
Wishing you the best of luck in working out a better plan.
I had NIGHTMARES dealing with student loans… SO glad to have it all resolved – even though I ended up paying all kinds of money I never owed.