How do I deal with MRS Associates about collection of a student loan?

Private defaults are difficult....there is no rehab and you wont qualify for a private loan consolidation. They do not have to offer you reasonable and affordable payments and they will sue you even if you are making payments. You dont have a choice on not working with the assigned CA...in fact ceasing a CA will only get you sued quicker.

Call them....you might get lucky if your offer is reasonable and will pay off your loan in a short period of time. Dont be looking for $100 per month. You are basically looking a car payment or more each month.

Great I basically just threw up! I'm completely freaked out I dont knwo what to do. I will call them today when i get home from work...Im really bad with getting scared easily...so I'm not sure what to say to them..I dont want to get scared into agreeing to something I can't do....the things I have read about MRS Associates are really nasty, and I do want to pay I am making timely payments on all my other loans, this one just fell through the cracks. is there anything I should even doing/saying when I call them...The last thing I need is to be sued. Im completely scared out of my mind now!

Thanks,

Kristen

Are your other loans privates or federal loans??

my other loans are private loans also through the same lender...they are in good standing and have been for over a year..

Ok and so now I called that collection agency, the MRS Associates, and they don't even have it...so now what do I do? How do I even go about finding who has my loan, so that I can MAKE payments on it! I'm so worried, lost and confused :(

Call TERI...If you have questions about the TERI loan or college access programs, please call 1-800-255-TERI (8374)

Are the other loans guaranteed by TERI? You might wanna ask how one defaulted and the others didnt

Thanks for your help...I called the ombudsman who gave me the number and name to the ombudsman for AES and I left her a message, he told me to call her and that might be my best bet. THe other 3 are cosigned by my father so when I was sending payments in they weren't applying them to that loan that was not co signed by him because it had a different cosigner...so those three are still in good standing...like i said i can and want to make payments, but can't because no one seems to know where the loan is! Thank you so much for your help..hopefully when i talk to this lady tomorrow I will get some answers...:-/

MRS are the worst people to work with. It makes me wonder if they are ordinary people or even know an ordinary perosn out there who has made a mistake or has no idea about how student loans work....because they definately act as if people are just suppose to cough up $4000 or even any amount in the all at once. Some people are just no that lucky in lfe. Not a lot of people out there can do that especially with the economy right now. Most people I know, including myself live from paycheck to paycheck, and have another part-time job just to keep up with living expenses. My priorities right now is to make sure that rent is paid so I have a roof over my head and my loved ones, car payments to make sure I can get back and forth to work to be able to pay any bills, FOOD so I can survive, phone....I'm sure you get my idea. But it is just hard to imagine that the collectors working with you have a choice to set up payment plans, but because they could receive up to 24% collection fee, they will try and get the largest payments from you. The collectors talk to you as if you are a low life when you are just trying to survive in this world. I guess some might say that it might be wrong for me to eat, pay rent, or have a some type of means to work, before paying the ridiculous amount they are asking for all at once when you are willing to work out a payment plan, but o well. It is my credit, which they do not care about, and it is only money they want no matter what. They just don't care about what happens in life....

I know how you feel and am in the same boat. I was fortunate enough to put our loans (both my husband and mine) into forebearence yet these people for MRS keep telling me it doesn't matter their records do not saying anything about a forebearence and if I don't pay this MAN immediately he was going to track me down at work and force me to pay.. now is he threatening embarrasement or physical harm, either way that has to be illegal. One word of advice is look into the fair crediting act and learn what they are allowed to say to you and what they are not, that is what I did so when they called back I was armed with knowledge of their illegal tactics. They are not allowed to to make any threats to you in anyway and have certain guidelines they must adhere to. Even though my loans ended up in collections I contacted Sallie Mae directly to work out arrangements, they were just happy I called. I wish you the best of luck! I have never encountered people like this before, granted before I got laid off i was never in this boat before and thankfully it was just a student loan and a small credit card that fell through, but between paying them or paying for my daughters medication for her seizures and other medical expenses (that obviously we have to pay out of pocket for since I got laid off and insurance has since expired) my daughters welfare came first! I wish you and anyone else out there struggling the best of luck. I know how you feel, I wish you the best of luck and keep the faith! You are not alone!

Fair Credit reporting act has nothing to do with what they can say or do....you want to be looking at the FDCPA.