Unpaid School loan purchased by two different debt collector
Date: Fri, 01/16/2009 - 11:16
Unpaid School loan purchased by two different debt collector
I've been paying GC Services for an unpaid school loan since 1992. I started paying in October in 2008 when they called my job and threatened to garnish my wages. They were not willing at all to negotiate the interest or anything. I recently received a letter from a RJ Acquisitions, saying that they had purchased that loan back in 1995, and they would erase all the interest, and cut the figure in 1/2. The letter says if I pay the settlement amount in full, the account balance will be paid in full. Of course, I want to take advantage of this, but if I do, will GC Services still try to collect the interest, etc? It is the same loan too, as I've only had one when I went to school. I'm unclear as to how they "both" had purchased it, and one can offer me deals on it when the other one can't. If it is paid "in full" through another collection agency, shouldn't I be able to STOP paying GC Services anything, and it be ok on my credit report still? Any suggestions or help would be appreciated.
For starters, CA's do not purchase student loans. Ask the CA's
For starters, CA's do not purchase student loans. Ask the CA's who they are collecting for. I am betting GC services is for the DOE. RJ acquistions is not a DOE CA so they could be collecting on a Perkins loan or some other type of school debt.
Secondly, could this be two seperate loans?? Have you asked them what type of loans they are collecting on and when it was originally borrowed? I hate to tell you but when I was collecting, people would swear up and down that they had 1 loan and it come out that they had 2 or 3. Another source would be for youu to log into NSLDS and see what loans you have out there.
