ECMC is threatening me with "default" for my loans that are in active deferment till Oct., if I do not "acknowldge the debt" within 30 days. I am post BK and had plans to file a motion with BK court to try to get my loans IIB if needed. Any advice would be greatly appreciated or info on the best way to protect my interest and my credit.
Backstory: Received BK discharge 2/2/17. Been rebuilding ever since. Both before and after discharge 100% of my debt was $50,000 in federal student loans. I believe I had a good chance to get them IIB, however our attorney advised me to try other programs FIRST. He said I could always file a motion to try to get the loans IIB later if I am unsuccessful with lowering my student loan debt.
In May I submitted a discharge False Certification/Disqualifying Status app to ECMC.
Even with proof of the disqualifying status, even with public knowledge of the school's reputation and legal troubles for repeated offenses of "falsifying eligibility of student loans for those who did not qualify" during the time I received the loans, and even showing the school "failed to perform steps to verify eligibility" they are required to even participate in the student loan program....ECMC denied my request.
I appealed their denial hoping DOE would "overturn" ECMC's decision. Of course, the DOE denied it as well, basically summariazing the same lame reasoning ECMC gave me (practically word for word).
Outcome: ECMC is now threatening me to force me to sign a "debt acknowledgement" form by October 3, 2017. Even though my loans are currently in "deferement" until October 2017, ECMC's letter states they will "instruct your lender to file a default claim; any deferment the lender has placed on your loans will no longer be honored." Navient is my lender. ECMC is the guarator.
I am afraid if I sign this False Certification Appeal Response form that "acknowledges the debt" will that reage the debt and prevent me from filing a motion to have my student loans IIB. Does anyone have any experience with this or BK laws regarding student loans? I do have a student advocate at Navient the DOE assigned to work with me after I filed a complaint against Navient, however, I am not expecting her to have my best interest at heart if I bring up including my loans in bankruptcy.
Fico 8 (11/25/17): EQ 669, TU 639, EX 670 In the garden … till Spring 2018
3/17: Cap1 QS MC ($750 CL); 4/17: Kohls Charge ($700 CL) 5/17: Overstock Store ($2,600 CL); Victoria Secrets ($750 CL) 10/17: Cap1 QS VS ($3,000 SL); Discover It ($9,000 SL) 10/17: HSN/Comenity ($2,650 CL) 11/17: Amazon Prime Store ($1,400 SL); Walmart ($300 SL)
Rebuilding -- Ch. 7 BK (10/26/16). Starting scores: EQ 541. TU 581