Got scammed and pressured in a month....
Date: Sat, 05/01/2010 - 08:35
Got scammed and pressured in a month....
I myself have made the mistake of not paying my school loans right away. I have had my student loans sent to CA, started paying them, only to fall off due to unemployment or just didn't have the money after paying bills. My last 2 tax refunds have been taken away, which is understandable due to the fact that my student loans have defaulted. I have two student loans. There has been one that has been great, if I'm gonna be behind they have let me made up the payment. I even check with the DOE about the CA, and there have seen their money. My payment is low monthly and I even try to pay them twice a month. I should be finish this one by Novemember.
However, the other CA is indimating.....
He wanted me to send, 500 to start my rebuilding process or else is was going through garnishment. (I read I'm not supposed to be threaten like that) I pleaded with the rep if I can make 2 payments of 250 that following month. Thank God he agreed. But after that, my payments had to be 244 a month. I couldn't afford that. I tried asking if we can lower. The CA refused, and after awhile I could only send what I had. I would send a 100 one week and and other 100 a week later. When he finds out what I did, I'll get an early phone call telling me this doesn't work. Previously I would get phone calls for settlements (I owe about 6,000) for about 4,000. I told the CO that there's no way I have that money. I'll get the constant take a loan, borrow it, etc. Fast forward, I sent another 100 and I get a phone call right away from the rep telling me that he can't work with me and take the settlement. Find a way to get the funds in my account and he'll be off my back. I tried everything to get a persoanl loan that could help and was pretty much deny everywhere (but, I figured I would). Then I loss $740 (in split payments) to what I thought was loan I got approve for, but it was a scam. I really thought I was getting this and when I was suckered I called the CA and told him the date when the funds were going to be in my account. After realizing that I'm not going to get anything, I called up the CA. The rep understood but the check has gone thru. He then tells me that I got to do what I can and we'll talk later. My bank account us next to nothing. I have a check that's going to be bounce (that I also tried to stop) 4,000. I called the DOE and they understood but told me it's in the CA hands. I really feel like I was pressured by this CA to give them a lump sum right away. I did send the money I have but the rep was really that easy to work with. I felt like even when I sent money all it really matter was giving them a lump sum right away. I told my father about this and he thinks I should explain to the FDC....
Unfortunately you are in default and per your prom note, you agr
Unfortunately you are in default and per your prom note, you agreed to balance in full on demand upon default. Call the CA, ask for a qualified manager and tell him that the check IS GOING TO bounce. Then go to the notes at the top of this forum and apply for a Direct Loan Consolidationn loan....you will automatically be assigned to the income contingent repayment plan.
They can garnish you quite easily...it is no threat....
I figured that, and I'm also lucky not to have any letters forwa
I figured that, and I'm also lucky not to have any letters forward to me that I'm going to be garnished. I think it's beacause I made two payments a month to keep me from that action. It was more so the rep I was dealing with. I have no idea if its the comission he makes from me paying my loan into a settlement. Cause the times I made a legit payment, I would get well if you can come up with this...I'll be off your back. I know what I got myself into and I had no problem paying them the money they deserved. But to feel like I had to give thousands I didn't have, and make rash decisions that I really wouldn't make...it's really a shock. Both loans are private loans. One is willing to to work with my payments and reschedule when they can take it outta my account. The other put me into a postion where I had to borrow or get a loan. Now I have to go to the bank, explain I got scammed, and now have to protect my identity. I know and believe an I pay this off. But I really feel like I was pressured in a situation where I thought everything was cool, but around 9:00 am, it wasn't ok. Thank you for the reply, I've been reading alot you wrote and your on point with everything. I know I can fix this and I've been willing to do as much as I can.
Why do you think you got scammed? You owe the debt...you agreed
Why do you think you got scammed? You owe the debt...you agreed to balance in full on demand...the collector is simply doing his job enforcing what you agreed to do. Hardly a scam. Too many people throw this term around and it simply does not apply. A nigerian wanted to give you a million bucks is a scam...but a collector making you adhere to the terms of your prom note is not.
No, I scam part was I thought I believed I was getting a bad cr
No,
I scam part was I thought I believed I was getting a bad credit personal loan and I fell for the scam. They were suppose to put money into my account after an advance fee. It's completley my fault for not doing better research. I thought I was all set, very professional website, professional documents, etc. I was expecting this loan to be in my account and I could pay the settlement off. Then I had a easy monthy payment through this (fake) company. I would have this CA off my back and I was on my way to clearing debt. Well, it didn't happen. I went ahead (bare in mind, excited) to call the CA up and tell them that the money would be in my account. Well all of that didn't happen. My account is negative. I barely had some little cash to pay some bills off. Other bills have worked with me and gave me extentsions. Then I reported what happened to me to the BBC and the FTC. I have no problem owing what I borrowed. I meant scam as trusting that I was getting a loan to pay my school debt. Now I'm hoping that the CA will understand that I gotta change my bank, I got involved in a loan scam and protect my identity due to this loan scam.
Spread the word...you never ever pay up front for a legitimate l
Spread the word...you never ever pay up front for a legitimate loan.
I am, and I know that there's many more that has fell into the s
I am, and I know that there's many more that has fell into the same fate. I advise people that has fell into this scam, is too work with CA and the DOE. There is a better and logicial way to clear school debt. I panicked before anything really happened to me and I fell into this fate. Use BBC if your gonna try to go after a loan, and if you fall to a scam...Report it!!!!
Soaplady, thank you for all the replies...
Update... I called the CA and explained everything in detail wha
Update...
I called the CA and explained everything in detail what has happened. I was told to seek counseling. I explain that I am willing to pay the bounce check penalty, and please give me steps I can do to continue paying off this debt. What is counseling???