William D Ford and garnishment

Have you actually received the garnishment 30 day letter yet???

Who is currently holding your loans>

Yes i received it. and i have until the 3-19-09 to respond or they are going to start ganishment.

Pioneer collection agency is holding the loans.

That doesnt mean your garnishment will start on the 19th.

Who is the holder of your loan right now??

Pioneer collections

That is the collection agency....the holder of the loan is the guarantor.

My loan isto start after the 19th but the check for the consolidation will be sent out on this friday coming, but they said it will take 2 weeks to process to my account. Should i consolidate for 11,000 more?

Sorry, California student aid comm.

I really need help with this.

Ok...you are stuck with the collection fees whether you rehab or consolidate. CSAC is an old client of mine and ffelp lenders throw in the collection fees with the rehabs.

When did you apply for the consolidation loan?

You should be paying for both loans as a combined payment....

I apply the 5th of feb was approved on the 25 andthe check is to be sent out on the 7th fri. I guess i'm askingshould i cons for 11,000 more than i would pay to pioneer is it worth it at the same time i can,e afford to separate loan payments to pioneer either.

If you had asked pioneer for a updated balance, you would have found the collection costs in their balance too. CSAC adds them at 60 days post default. So really the collection fees are a moot point.

So r u saying the 11,000 dollars extra on the summary statement is on the update from pioneer ? i thought it was from the consolidation?.

The update on the summary sheet is from CSAC....WDF sends what is called a LVC or lender verification cert to CSAC...CSAC provides your balance.

Is it best to consolidate for the 20 years at 32,880 or rehab at 21,244 ?

Ok, I see the total collections came from the guarantor CSAC not WDF? So on the summary statement it is not a collection cost from WDF for an extra 11,000.

THank you soooo much for your help!! I wanted to ask this question as well. Once my loan are paid by WDF can i call pioneer to have them clear my taxes so i can get them? How does that work? thanks

Pioneer has nothing to do with your tax offset. They are only working third party in the collections of the debt. Tax offsets are administered by csac/edfund.

I have wage garnishment forms to respond in 30 days wich will be 3-19-09. There is also a date to respond of 3-04-09 if i wan't to dispute it . I am waiting fo rmy consoldation to go through wich i was told the check will be sent out on friday 3-07-09 should i have sent back the forms by the 4th to stop the garnishment or will it be stopped after they receive the paid in full check for the consolidation ?

Is there anyone available to help me with my student loan questions? I've been overwhelmed with this whole thing. I want to consolidate but i don't know ifit is the gest thing for my situation. Is it ever a good idea to consolidate vs rehab?
and what r the real true benifit to consolidation. IS there any? Please help!

Your loan is going to fund in 2 days...you will be out of fault so the whole garnishment is moot.

If you cannot afford rehab payments and since your lender isnt offering rehabs right now, I would say consolidation is the way for you to go.

Benefits of consolidation....taking you out of default, payment affordability....really you should have read about all of this before applying.

Yiu say it will take me ouy of default , but will still remain on my credit as a negative?

Your tradeline will be marked paid but the default status remains for 7 years from the time of the default. If you had rehabbed, you still would have had one negative tradeline.

Thanks SoapLady you have been very helpful!

so, even though you are out of default from consolidating a loan it still is on your credit? When i was on the rehab program before falling off they said that it would taken off. And when I called the william ford people they said it will be paid out of default. Which one is it?

Is the wd ford legit or a scam? I'm being harassed and I'm checking online about this program and wyndam professinals ! So far windam seems to be an illegal collectin agency but I'm checking to see if this option is viable ! If it's not, I'm leaking it to the media ! Please advise!

Maybe if you read this thread or the forum you would read that William D Ford is the Direct Loan Program run by the department of Education. Wyndam Professionals are a vendor for the US Department of ED....very legit.

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