Student loan question? Help much appreciated!?
Hello! I have defaulted on a student loan and have just recently started trying to negotiate with collections (2 seperate collection agencies)to make a payment plan, which they denied, as I’m severely delinquent but in a MAJOR financial crisis right now. I did have a co-signer and since explaining my destitude situation to collections, they have gone after him, even though he and I are on non speaking terms. (ex-husband) He REFUSES to even entertain their calls. To make a long story short, I recently called one of the collection companies today to try to re-negotiate again so my co-signer stays out of it, and they said, my account is no longer in collections and shows is current standing w/ the loan co.? Then, I logged into my account with the original loan co. and it says “claim paid” and under recent payments, their are none, but it states, thank you, your balance has been paid in full? WHAT IS GOING ON!!?? I really appreciate any help! Thanks!
Really, you should direct these questions to the lender. Anything anyone says here is just a guess.. but here is mine.
Once your loan went into default, it was sold to a collection agency. They do this by paying off your defaulted loan and taking on the debt to collect. You might consider sending them some money… even if it is not the full monthly amount they want SOMETHING is better than nothing. They aren’t going to send your money back to you. It will also delay them garnishing your wages and seizing your income tax returns for a bit.
