Error Reporting?

[xkaosx]

I have 2 loans (that are defaulted) from Wells Fargo and then there are 4 collections from someplace called USA FUNDS. Both places are contacting me trying to collect funds. Is this legal? WHy are there 4 USA FUNDS collections when I only had 2 Wells fargo loans? All the account numbers show up different on the USA Funds collections. I disputed them and they all came back verified. Any suggestions?

[LynnInMN]

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xkaosx wrote:
I have 2 loans (that are defaulted) from Wells Fargo and then there are 4 collections from someplace called USA FUNDS. Both places are contacting me trying to collect funds. Is this legal? WHy are there 4 USA FUNDS collections when I only had 2 Wells fargo loans? All the account numbers show up different on the USA Funds collections. I disputed them and they all came back verified. Any suggestions?

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Are these federal loans?    How  many years did the WF loans cover?   2 years?

Generally with  federal  loans  you  take a loan  out thru a  bank with  are guaranteed by another agency....in this case USA  Funds.  What I am thinking is you took out two years worth of loans from WF and then defaulted.  USAF then paid the claim and is reporting  all the dispurments individually which is very normal.  Disputing this wont help...this is legal reporting for defaults. 

WF should be paid off and not contacting you anymore unless it is to notify you that USAF now holds the claim.

[xkaosx]

I went to a trade school for 14 months. The amounts dont add up though.

I just got a letter from Wells Fargo asking for the money on saturday.

Do I have any chance of doing that rehab program for this and having this stuff removed or updated?

[LynnInMN]

    Again are these federal or private loans?  Have you called WF or USAF?  What does the letter say?

[xkaosx]

Oh sorry they were federal loans

I havnt called anyone yet. Dont know which place I should call

[LynnInMN]

What does the letter say????

[xkaosx]

pretty much your seriously delinquent and call us to setup a payment schedule

[LynnInMN]

Call them.  Are you sure you borrowed just federal stafford loans?  Or did you borrow a combo of both staffords and private loans?

[xkaosx]

honestly I dont even remember at this point.

I just want to make sure I am calling the right people who can deal with it

hopefully in a positive matter that can eventually start reflecting well on my credit report

Should I just call wells fargo and see what the entire status is?

[LynnInMN]

You are not going to see anything positive for a long time.