Student Loans

[nflfan]

Can you send me the supervisor name and number.  My rep is less then helpful.   I set up a payment plan over a year ago and was told about the 9 month rehabilitation plan.  After 9 months I call my rep and was told the Dept of Ed was backed up.  4 months later NOTHING.  I think it is time I talk to someone over him.

[redsox2011]

MC445- Thank you for the info. I am actually two months into my rehab now. I would love the supervisor's # if you have it. The rep at DCS was actually really helpful and I negotiated a very fair payment plan. I just want to stay on top of them and make sure when my rehab is up, my credit report is being updated as timely as possible. Thanks again

[nflfan]

The Department of Education is finally updating their computer systems.  I have been paying for 12 months.  Spoke with the Dept of Ed yesterday and she manually marked my accot for rehabilitation.  Just waiting on my packet. 

[mc445]

Hello and welcome.

For everyone's privacy and security personal information such as full names and direct phone numbers are not allowed to be posted. You are welcome to use the PM (Private Message) function for that.

MarineVietVet, myFICO moderator

[beppie]

can you email me the information. i think im about to be in the same boat and idk how to fix it. I thought my parents were paying on my student loans, turns out they were not and they were hiding the loan letters from me so now i have a defaulted mess, but i can't afford the payment. i could pay them something, but not near the amount they want. what can i do? please help.

[redsox2011]

Just wanted to update this thread with where I stand today. I entered the rehabilitation program with DCS on 7/2/12 and just made my 9th payment on 3/2/13. I spoke with DCS and they let me know they have sent all info to the Dept of Education saying all payments were made. The Dept of Education has told me they agree with this and we are now waiting for my loan to be picked up (by Sallie Mae or another lender) and that this process usually takes 30-60 days from the time the 9th payment was made. Does this sound kosher with everyone? I just want to make sure I'm not missing anything. Nothing has been updated with my credit reports and my wages are still being garnished. I imagine this will continue until my loan is picked up. While I'm waiting for the loan to be picked up, does anyone have suggestions as to anything else I could be doing at this point? Or just sit tight and wait?

[InvincibleSummer3]

No, this is exactly normal. I know it's hard but hang in there and be patient. I'm in the same boat, actually - my last payment was 3/15. But I rehabbed 4 other loans last year so based on that I can tell you that this is the process. I've called once a week or so, just to check in - but largely only because I want to make sure I know when and if they're going to take payments out of my account.

Good for you for finishing, BTW! Congratulations

[redsox2011]

So I am officially out of rehab! My loan was picked up by FedLoanServicing about a week ago. I just got off the phone with them, where I set up a new payment plan (less than I was paying in my rehab). They also told me they report to the three credit bureaus at the end of the month, so as long as I make my first payment in the new agreement (which I am doing today), they will report as pays as agreed. Feels great to be done with this whole ordeal, and hopefully by month's end I will finally see the work paid off with a nice jump in my credit score.

My advice for anyone in rehab is to just stay in touch with the collection agency, dept of ed, etc.....Just make sure everyone is on the same page. I actually had no issues with the collection agency (DCS) and it seems as though FedLoanServicing is very easy to deal with and their website is great. The speedbumps I hit (while minor) were with the Dept of Education themselves. They are clueless and you get a different person everytime you call!

I'll keep everyone posted on how the scores turn out at the end of the month. Thanks to all on this board for all the advise you gave to myself and others looking for help.

[InvincibleSummer3]

Yay! Congratulations!