do i have to continue making a payment on a student loan debt that I want to cancel
Date: Thu, 05/30/2019 - 12:08
do i have to continue making a payment on a student loan debt that I want to cancel
Hi, my daughter received a call from national enterprise systems who represent navient and presented her with the ability to pay $6800 in an installment agreement that would wipe away $98000 of private student loans. I'm her dad and she called and gave me the info. I called NES , checked them out and decided to do the intstallment agreement of $2000 down and 100/mo on my credit card yesterday. Today i found out that this loan doesn't show up on my daughter's credit report and as a result I feel that there is no need to continue paying it. Is there a way for me to get out of this committment and get back my $2000 or at least to prevent them from taking 100 per month for the next 4 years? I was not a co-signor on the loan and NES rep never told me that I couldn't cancel this agreement once I verbally agreed to it over the phone.
Thanks
Thanks
Verbal agreement is not
Verbal agreement is not legally binding. So you can come out of it any time you want. Have you already paid $2000? Have you given your bank account details to them? In that case, you have to revoke the ACH authorization with them. By the way, how are you planning to take care of the private student loan? The amount is huge.
If you have already paid the
If you have already paid the amount, then stop the ACH authorization. And, try to settle the student loan since the amount is big. You can also consolidate it with other obligations as well.