Allied Interstate vs Debt Consolidation ( Student Loans)
Date: Sat, 08/21/2010 - 17:20
Allied Interstate vs Debt Consolidation ( Student Loans)
I recently contacted FAFSA to inquire what would be the best way to begin paying on my defaulted loan so I would be able to apply for Finacial Aid this upcoming school year.. I was informed by FAFSA that the fastest way to do this is to do Debt Consolidatioin which if approved the process would take up 60-90 days.. Okay went directly to the Direct Consolidation Lons Website... filled out the loan application online and opted for the ICR/IBR.. received paperwork from Direct Loans wanting addtional information to do the ICR/IBR tax info all of the good stuff...after reviewing the documention that gave a few options to choose from so I decided to go with the path of least resistance which was a standard payment of 50.00 instead of doing the ICR/IBR..So within the paperwork there was a contact number if you had an question about filling the paper out I decided to call because I wasn't really sure where to sign..Once I contacted the phone number listed on letter and I explained that I received the paper work for the ICR/IBR and decided to go with the Standard Payment plan of 50.00 a month the changed it in the system for me so there was no need to send the paper work back in and I was also told that the process would take up to 60-90 days.. I was like Cool!!! Now today 8/21/2010.. I get a call from Allied Interstate about the loan and they totalll threw me off.. wanted to know if I could pay the balance in full wanted to know if I could make a good faith payment explained that I was still confused totally thought I had the ball rolling now come to find out that is not the case.. so now that wanted to send out the packet for the ICR/IBR...and he continued to ask if I wanted to make a good faith payment I like ???????????? good faith to who, where did this company come from how did they get my information?? So the representative was nice answered most of my questions but still could not let me know how Allied Interstate came into the loop... I would like to keep my existing arrangement with the Direct Loan Consolidation and not work with Allied Interstate..I do have the right to do that because I didn't aggree to do anything also there wasn't any exchange with AI at this time.. Im I correct????
For starters, you didnt contact FAFSA...FAFSA stands for Free Ap
For starters, you didnt contact FAFSA...FAFSA stands for Free Application for Federal Student Aid.
Secondly, because you are in default, you are required to take the IBR/ICR repayment. No choice on standard.
Thirdly, the Direct Loan Website states that you have to be in repayment to qualify for a direct loan consolidation. The holder of your loan, assigned your account to Allied....that is how they came into the loop. If your loan has not been consolidated, you need to listen to and work with holder of the loan or its rep which is allied. Direct Loan consolidation does not yet hold the loan thus they should not be telling you not to work with allied. You dont have an arrangement with Direct Loans yet...that will come when the loan is funded, but not until then.
AI has been calling me for a good while now over a school loan b
AI has been calling me for a good while now over a school loan back in 02. i was responsible with the paymets until i lost my job and a year after became permanently disabled. now my dad had cosigned for this particuylar loan amd they are threatening him too, but he is also perm. disabled due to heart conditions. the balance is 8,200. they brought it down to 4200 but are threatening that after today ( the 30th of the month) they will seek legal actions and i will then have to pay the full amount of 8200. they will only take either credit, debit, or check over the phone. myy dad nor i really trust doing either one of those. so i offered to send a ,omey order over night and they refused it because it would not get there on time. I can get that payment to them just not right away. what can i do?
Private, but i have another trhat is a federal loan
Private, but i have another trhat is a federal loan
Private loans will and do are a regular course of business file
Private loans will and do are a regular course of business file for judgement on both parties. Sounds like they are trying to get in by the end of the month or the settlement will poof and be gone. AI's student loan division is a US Department of Education vendor so I would have no problem doing a check over the phone. Get them to fax you the settlement letter first.
because of being permanently disabled, can it be written off, an
because of being permanently disabled, can it be written off, and if so, can that affect my dads credit?
Private loans have no provisions for being written off.
Private loans have no provisions for being written off.
Quote:Originally Posted by Anonymousbecause of being permanently
Quote:
Originally Posted by Anonymous because of being permanently disabled, can it be written off, and if so, can that affect my dads credit? |
It can be written off if disabled but need to get all paper work and doctors info and file.
Quote:Originally Posted by AnonymousIt can be written off if dis
Quote:
Originally Posted by Anonymous It can be written off if disabled but need to get all paper work and doctors info and file. |
Not if it is a private loan...private loans have NO provisions for write offs.