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AES private student loan default - sent to NCO and trying to make contact

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Anonymous
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AES private student loan default - sent to NCO and trying to make contact

I have a private student loan through AES, total still owed 24K, I was making payments, though the loan defaulted becuase I wasn't paying the "correct amount".  I had been paying the same 108.97 for over a year and my payment supposedly increased to 217.28 - with no communication.  Regardeless I was told that the loan was sent to NCO for default on the 4th of March.  What are my options when I finally reach them?? Do they have to offer a payment option??  Obviously if I had 24K I would just pay it off - but I don't.  We have been doing great paying off debt and just paid of my husband last federal loan - all of my federal loans are in good standing.  

Does anyone have any experience with this?? 

 

Thanks! 

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: AES private student loan default - sent to NCO and trying to make contact

Is there something you're leaving out?  You didn't know about the graduated payments when you took out the loan?  Your payment increased, you continued to pay the old amount and no one contacted you, send you a letter, gave you a phone call?  The first time you learned about it was when it went into default and was sent to collections?

Message 2 of 7
Anonymous
Not applicable

Re: AES private student loan default - sent to NCO and trying to make contact

Yes. I did not know about the change in the payment schedule. The payments were taken out automatically each month. There were no letters or phone calls to me, my husband or my cosigner.
Message 3 of 7
SCF
Valued Contributor

Re: AES private student loan default - sent to NCO and trying to make contact

Did you have the payments set up through your bank or through the AES website?  Can you download any statements or payment records from the AES website supporting that the amount you were paying was either 1) what they requested from your bank or 2) what they told you to send?  If you can make a case that this was a mistake on their end, they may be willing to take the debt back from the collection agency and allow you to resume payments.

 

If this is a case of you failing to update the payment amount with your bank (for instance, if you were using their automated bill pay), then you will probably just have to deal with the collection agency.  If you call them, they will probably be willing to work out a payment plan with you.  It is much cheaper to accept payments than go through the process to file a lawsuit.

Message 4 of 7
bobalu1
New Member

Re: AES private student loan default - sent to NCO and trying to make contact

yes, you dispute it with NCO and ask them to send you a contract that  you have with NCO.

Because you don't, and when they give it back to AES, you dispute with AES, and ask them  to show you were

they purchased the alleged debt from Bank of America.

 

Your credit is already destroyed, so why pay? Dispute Dispute Dispute.

 

You see, every time you pay them, you loose your Statue of Limitation.

Message 5 of 7
SCF
Valued Contributor

Re: AES private student loan default - sent to NCO and trying to make contact


@bobalu1 wrote:

yes, you dispute it with NCO and ask them to send you a contract that  you have with NCO.

Because you don't, and when they give it back to AES, you dispute with AES, and ask them  to show you were

they purchased the alleged debt from Bank of America.

 

Your credit is already destroyed, so why pay? Dispute Dispute Dispute.

 

You see, every time you pay them, you loose your Statue of Limitation.


DIsputing correct information won't get you nearly as far as correcting the situation (if this was AES's mistake, OP should document and push hard to make them own up), or arranging some type of pay for delete with the CA if it was OP's mistake.  With a newly transferred debt like this, NCO will likely be able to produce the information they received from AES regarding the debt, and OP will have a hard time making a case that it is not his.

Message 6 of 7
Anonymous
Not applicable

Re: AES private student loan default - sent to NCO and trying to make contact


@SCF wrote:

@bobalu1 wrote:

yes, you dispute it with NCO and ask them to send you a contract that  you have with NCO.

Because you don't, and when they give it back to AES, you dispute with AES, and ask them  to show you were

they purchased the alleged debt from Bank of America.

 

Your credit is already destroyed, so why pay? Dispute Dispute Dispute.

 

You see, every time you pay them, you loose your Statue of Limitation.


DIsputing correct information won't get you nearly as far as correcting the situation (if this was AES's mistake, OP should document and push hard to make them own up), or arranging some type of pay for delete with the CA if it was OP's mistake.  With a newly transferred debt like this, NCO will likely be able to produce the information they received from AES regarding the debt, and OP will have a hard time making a case that it is not his.


I agree. Especially since the OP was having payments automatically drafted from their bank account each month. 

Message 7 of 7
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