Default student loans

Date: Wed, 08/19/2009 - 00:06

Submitted by anonymous
on Wed, 08/19/2009 - 00:06

Posts: 202330 Credits: [Donate]

Total Replies: 32

Default student loans

A credit agency called me at work today and kept me on the phone for 45 minutes claiming that they were going to garnish my wages up to 15% for non-pain student loans. I told them that I could set up a payment plan and they agreed to it, but then the guy on the phone said "well sir, we need a valid checking account to set this up for you". I said, well unfortunately, I don't deal with banks, so I can absolutely make the payments, but it will have to be in the form of some sort of gift card or something, I can get an all access one and have a payment for you this friday (in 3 days). He then said "let me get my manager". Then this lady comes on the phone and starts relentlessly saying "sir, we're trying to make this easy for you, is it possible that your mom or someone else can give you their routing information and you could pay them the money". I said listen, if you want to talk about payment, thats fine, if not I don't know what to tell you, I said that I can use some sort of all access card to pay you and the payments will go right through, if not, you will have to give me a couple weeks to open up a checking account just for this specific reason since I don't have the funds immediately to make the first payment. She then said, "someone will be in our office tonight until midnight, see if you can talk to your mom about using her checking account to have this set up so we can get it in our system that you are in the rehabilitation program under the hardship program, and if I come in tomorrow morning and I don't see anything on our file that you have called with routing information, then I will proceed with garnishment ramifications". Now, my question is, these people are anything but easy to deal with, you wouldn't BELIEVE the questions that they were asking me. The name of the agency is Pioneer credit union, so they are valid, I've received letters from them before. Secondly, before they start garnishment, do they have to send me a letter, and if so, im sure by that time I will have the funds to start making payments...I'm thinking if they have to notify me, that may take at least a week, and I might have the right to file an appeal or at least contact them back and try to make payment arrangements. If this is correct please let me know, I live in Pennsylvania. They seemed anything but helpful. The strange thing was, when the guy was giving me payment options he said "ok sir, since the loan was in default, we are expecting a down payment of 2,964$ and monthly payments of 330$, or a down payment of 2,165$ and a monthly payment of 435$, or a down payment of 1,345$ and a monthley payment of 566$". Then I said "well, there's no way possible that any of that is happening at all, so do what you need to do. And then he said "let me speak to my manager". He then came back on the phone and said "my manager said that you would be a good candidate for our "hardship" program, which would be no down payment, and monthly payments of 195$, the only thing that we require is 2 payments this month, and then monthly ones after this. That's when they only gave me a checking account as an option and then said if I didn't call them back later that night, they would start the garnishment process. My question is, do they have to notify me before they do anything, and if so, like I said before, if they have to notify me, will I have time to contact them back for monthly payments. They said that in order for me to quality for that "hardship" program, that I need to let them know by tonight because there are only a few times they can grant that out or something like that. So, I guess what I'm asking is, in a couple weeks, should I still be able to set up payments with them, or will they just immediately start taking my wages without any further notification. Thanks a lot for the help. If you need any other information, just let me know.

school loan

Hello.....I just want to say I've dealt with a Defaulted Student Loan, at one time, too (however, right now my Student Loan is in 'good status'). First things first:..is the loan in your name and a combination of names (IE:Yours and your mom's, etc). If it's JUST in your name, they have no right to be asking you about someone's accounts, etc. If your mom was a 'Co-signer' ( that kind of thing) on the loan, then they should be calling her,..not asking YOU for her information. I live in PA, too....so, I DO want to say I 'hear ya' on the issue of Student Loans. To put your 'mind at ease', it wouldn't matter if you paid them tonite or in the next few weeks. Also....they are REALLY pushing for an answer..all they want is your money. The CA doesn't have your 'best interest' in mind at all. USUALLY, a CA gets a commission, on YOUR payment, if you pay them by a certain time. DON'T give in to them!! If your Student Loan is ALREADY in default, there IS no such thing of a 'Hardship' payment. I'm going to look a few things up and I will get back to you with a few numbers you may want to call:people you can ask and help you.