cancel
Showing results for 
Search instead for 
Did you mean: 

GC SERVICES-has anyone tried debt settlement with them?

New Contributor

GC SERVICES-has anyone tried debt settlement with them?

Just curious if anyone has tried a settlement with them?  If so, what was your expereince.
Message 1 of 5
4 REPLIES
Regular Contributor

Re: GC SERVICES-has anyone tried debt settlement with them?

I used to work for them . . . for a week.  That company was malicious and unscrupulous.  They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?"  As far as your question, I didnt hang around long enough to find out what kind of settlements they did.
05/25/07: TU-567, EQ- 570, EX-546
03/19/08: High:668 Mid:662 Low:649 (don't know which is which, got it from mortgage broker)
04/21/2008: EQ-696
Message 2 of 5
Frequent Contributor

Re: GC SERVICES-has anyone tried debt settlement with them?

GC Services is a vendor for the US DOE and several FFELP lenders.  Settlements are possible....they will generally waive some or all of the collection fees.  Under certain circumstances they may waive some of the interest.  Keep in mind that you will receive a 1099 if they waive more than $600 so you will end up being taxed on your settlement.
Ex-Financial Aid Officer

Ex-Student Loan Collector
Message 3 of 5
Frequent Contributor

Re: GC SERVICES-has anyone tried debt settlement with them?



Drachen wrote:
I used to work for them . . . for a week.  That company was malicious and unscrupulous.  They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?"  As far as your question, I didnt hang around long enough to find out what kind of settlements they did.


Geez! That sounds like the creditors in Japan. They actually got in trouble for encouraging people to commit suicide, after the creditor had purchased life insurance on them. I just don't know how some people sleep at night.
FAKO TU: 730 (Too poor to check the real scores these days!)
Message 4 of 5
Senior Contributor

Re: GC SERVICES-has anyone tried debt settlement with them?



pjxf99 wrote:


Drachen wrote:
I used to work for them . . . for a week. That company was malicious and unscrupulous. They taught us to ask people "What does your family think of you, a man, who can't even pay his bills. Do they think you are really a man?" As far as your question, I didnt hang around long enough to find out what kind of settlements they did.


Geez! That sounds like the creditors in Japan. They actually got in trouble for encouraging people to commit suicide, after the creditor had purchased life insurance on them. I just don't know how some people sleep at night.





According to the book Law in Everyday Japan: Sex, Sumo, Suicide, and Statutes by Mark D. West, University of Chicago Press, 2005, several hundred people in Japan attempt suicide over money troubles every day, of whom about 30 die. Recently, in an attempt to ameliorate the problem, the government created something called "civil rehabilitation" to reduce the stigma of "bankruptcy."
TU 791 02/11/2013, EQ 800 1/29/2011 , EX Plus FAKO 812, EX Vantage Score 955 3/19/2010 wife's EQ 9/23/2009 803
EX always was my highest when we could pull all three
Always remember: big print giveth, small print taketh away
If you dunno what tanstaafl means you must Google it
Message 5 of 5