How to respone to DCS questions
Date: Fri, 12/02/2011 - 22:41
How to respone to DCS questions
hello, I have to call DCS to discuss my student loan and I would like some advise as to how to answer their questions. They sent me a letter stating that I may qualify for the federal Student loan Consolidation Program and they also included a Financial statement asking for my bank account information and my supervisor's name and number. I don't want to give this information bc I don't that its necessary. I know she will try to get as much personal information from me. I want to protect myself so what do you think is the appropriate information and what should I try to negotiate my payments to be. My loan is over 50k and that more that I make in a year. I want to pay $50 a month do you think that is something I can secure bc I know they are going try to get me to pay more and I just can't.
You need to be realistic....at $50k your interest is $285 a mont
You need to be realistic....at $50k your interest is $285 a month a growing. You owe a federal debt and they can garnish your wages without a court order.Any and all information they ask for, you give. They will need a financial disclosure, new references and more than likely a bank account to draft your payment from. You give it all. You are not likely to get a $50 payment arrangement....even under the ICR or IBR in consolidation it is going to be based on your income.
