12-07-2012 10:34 AM
Hi there, i'm new to the forum, but have been looking through it for information on beginning the process of rehabilitation for a defaulted FFEL student loan current with a collection agency. I haven't been able to find quite what i'm looking for in any other posts, so perhaps someone has some advice.
I called the CA to inquire about the rehabilitation program, and how a 'resonable' monthly payment is calculated, and was given the run around by the person on the phone. When I requested that they send me something in writing regarding what the payments might be, due dates, what would happen upon successful completion of the program,etc, I was told that they do not send anything in writing until after full completion of the program. I ended the call due to his non-cooperation with my request when he wanted to transfer me to a 'manager.' I'm not going to enter into anything without a statement in writing from the CA.
I am going to send a written request to the CA requesting that all further communication be in writing (per the FDCPA), request an outline of their rehabilitation program, and a request that they send me what info they use to decide what is 'reasonable' for the payment. I assumed that this would be a standard request, but they avoided my inquiry at every turn over the phone. I read somewhere that each collection agency is to have a form/questionaire for the borrower to complete to come up with a reasonable payment?
My question to the forum is: does anyone have sample text for such a letter or know where I can find it, and if there is anything else that would be prudent for me to include in such a letter requesting to be entered into a SL Rehab program? I seem to find only posts from people who have initiated their rehab program over the phone, and seeing as this CA seems to be exceptionally tricky over the phone, I wish to proceed in writing.
12-21-2012 12:41 AM
I am looking for the same thing to help a friend who is afraid to open her loan mail due to being unemployed, and has now gone into default.
If anyone has any info on how to apply for loan rehabilitation through the govt can they post it here?
I will also research and update with what I find.
01-02-2013 04:47 PM
I did mine over the phone as well. Unfortunately, you have to call in, they do not send you information in writing. I actually went into default due to address change not being completed. They found my address from my credit report and sent my a pre-garnishment letter. I called and that is when it was offered to me to avoid garnishment. Even on the website it is very little information about the program. It redirects you to call for more information.