Re: Student loans in default! Advice please?
06-29-2008 07:09 PM
bubbles0605 wrote:Oops! the word "defaulted" wasnt used. Its says: " Dear, Borrower,Your lender has informed this agency (higher ed student assistance authority) that your student loan account is now 180 days delinquent.You must take steps to resolve this today."
Also, I was wondering if they can take my Stimulus check if I am delinquent??
Message Edited by bubbles0605 on 06-29-2008 04:43 PM
Message Edited by bubbles0605 on 06-29-2008 04:44 PM
Whew!! Delinquent is SO far from defaulted (well, it's 3 months away, at least!!)!!
Get your patootie on the phone and make arrangements NOW!! The sooner you get back on track, the sooner you won't get whacked in the head with a rolled up Sunday's New York Times!! I may sound like I'm lecturing you, and if I do, I AM ... ask me why!! We have 120+ days on our SL and it has tanked our scores to the low 600s!!
(It may not seem like a huge deal now, but, trust me, it ain't fun!!)
I've heard that you can't be considered in "default" if you're in communication with your servicer/lender ... don't remember WHERE I heard that, but I did.
Anywho, yes, they can take your ESP, but chances are, unless you've defaulted, they won't. At least, we were close to default and they didn't take ours. And all the stories I've heard of tax refunds (or ESPs) being offset dealt with defaulted SLs, not just delinquent ones. You can, if you're really worried and want more than the opinion of a stranger in a forum, call the Treasury Offset hotline: 1-800-304-3107. You'll have to verify your identity (SSN and zip code, I think).
Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!