Need some advice on how to proceed...
Date: Mon, 10/18/2010 - 14:52
Submitted by moonlight_knight2
on
Mon, 10/18/2010 - 14:52
Total Replies: 1
Need some advice on how to proceed...
Here's my situation...
I have 3 student loans (2 FFELP and 1 private) with Sallie Mae, and since having them since 2002 have had many problems paying them on time, until I was making enough money and now they are current with Sallie Mae in auto debit payment.
However, my problem is that I also co-signed for a private loan through Sallie Mae for my then fiancee'. She wasn't paying on her loan due to having to take care of her mom full-time and it eventually defaulted around 2004. In 2009, she came into some money and made a huge payment to Sallie Mae via a CA on 5/22/09 (thinking that it would settle the loan, but I found out today that it didn't) and got it back current (at the time).
On 10/5/10, I was sent a letter from Allied Interstate saying that they would try and collect a judgement from me for her loan. Then on 10/10/10, I was sent a letter from National Enterprise Systems saying that they were trying to collect on the same loan. I went on the Sallie Mae website to try and make some sense out of this and saw that her loan was 105 days late (as of 10/13, so now it's 110 days late).
I called Sallie Mae today and after getting the run around for an hour, finally found out that the website was right and that National Enterprise now owns the loan. I inquired about adding this loan to the 3 I have already and putting it auto debit also, but the lady in collections said that there was nothing she could do.
So my questions...
1. I thought that you had to be 180 days late for it to be defaulted and go to a CA?
2. If I paid the late payments, wouldn't the loan go back to Sallie Mae?
3. I'm willing to take on the loan and pay on it, is there anyway that I can consolidate it with my own private loan, being that I'm already paying Sallie Mae myself?
4. If not with Sallie Mae, is there a company or bank that will consolidate them?
I have 3 student loans (2 FFELP and 1 private) with Sallie Mae, and since having them since 2002 have had many problems paying them on time, until I was making enough money and now they are current with Sallie Mae in auto debit payment.
However, my problem is that I also co-signed for a private loan through Sallie Mae for my then fiancee'. She wasn't paying on her loan due to having to take care of her mom full-time and it eventually defaulted around 2004. In 2009, she came into some money and made a huge payment to Sallie Mae via a CA on 5/22/09 (thinking that it would settle the loan, but I found out today that it didn't) and got it back current (at the time).
On 10/5/10, I was sent a letter from Allied Interstate saying that they would try and collect a judgement from me for her loan. Then on 10/10/10, I was sent a letter from National Enterprise Systems saying that they were trying to collect on the same loan. I went on the Sallie Mae website to try and make some sense out of this and saw that her loan was 105 days late (as of 10/13, so now it's 110 days late).
I called Sallie Mae today and after getting the run around for an hour, finally found out that the website was right and that National Enterprise now owns the loan. I inquired about adding this loan to the 3 I have already and putting it auto debit also, but the lady in collections said that there was nothing she could do.
So my questions...
1. I thought that you had to be 180 days late for it to be defaulted and go to a CA?
2. If I paid the late payments, wouldn't the loan go back to Sallie Mae?
3. I'm willing to take on the loan and pay on it, is there anyway that I can consolidate it with my own private loan, being that I'm already paying Sallie Mae myself?
4. If not with Sallie Mae, is there a company or bank that will consolidate them?
Student loans are never sold.....the CA is working it on behalf
Student loans are never sold.....the CA is working it on behalf of the guarantor, sallie mae.
If the loan defaulted in 2004, it would still be in default, regardless of any monies paid.
No, you cannot consolidate it with your own loans. Being that it is in default, no one will consolidate a private loan. It is hard enough to consoliate a current private loan.
