PHEAA/AES/BRAZOS - Help

[aman31]

I'm not sure how to handle this sitution and looking for some advice. I have a student loan with AES in 1998, which was consolidated in May 2006 with another lender. I never paid any payments on this account. The loan was suppose to always be in deferment/forbearance. Currently, they are reporting 2 sixty day lates, 2 90 day lates, and 4 120 day lates. I called and tried to talk to someone, but was told because the account has a zero balance and has been closed for some time, no changes could be made in the computer. I dont really have any paperwork to support the deferment/forbearance. I tried to call the school and get my dates on enrollment during 2005 and 2006 when the lates are being reported, but I cant get the person to call me back. I took some time off school, but always requested the forbearance. I only had one loan thru this lender. The rest of my loan were thru US Dept of Education and show no lates for the same time period. Any advice is appreciated.

[LynnInMN]

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@aman31 wrote:
I'm not sure how to handle this sitution and looking for some advice. I have a student loan with AES in 1998, which was consolidated in May 2006 with another lender. I never paid any payments on this account. The loan was suppose to always be in deferment/forbearance. Currently, they are reporting 2 sixty day lates, 2 90 day lates, and 4 120 day lates. I called and tried to talk to someone, but was told because the account has a zero balance and has been closed for some time, no changes could be made in the computer. I dont really have any paperwork to support the deferment/forbearance. I tried to call the school and get my dates on enrollment during 2005 and 2006 when the lates are being reported, but I cant get the person to call me back. I took some time off school, but always requested the forbearance. I only had one loan thru this lender. The rest of my loan were thru US Dept of Education and show no lates for the same time period. Any advice is appreciated.

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Sounds like you didnt file deferments or forebearances on time.  Since it is closed and you have no proof you will be out of luck on any changes.  The changes should have been done before you consolidated. 

[Anonymous]

Unfortunately whn lenders change if their guidelines change, they reserve the right to change the terms of your original MPn (master promissory note).  And, each lender usually requires different action be taken for each loan sequence & for each different deferment or forbearance.  If you did no reapply every semester or contact AES to renew a deferment or forbearance, and you weren't continuously enrolled in school the entire time, you would not just stay on a deferment or forbearance.  You would be automatically taken off.  You are required to update that information with the Loan Servicer any time your situation changes.  Good luck.

[texaninfl77]

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@LynnInMN wrote:

Sounds like you didnt file deferments or forebearances on time. 

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Or the lender could take their sweet time processing deferment and forbearance requests. Sort of like ACS taking 3-4 weeks to process these types of requests.