topic Re: please take a look in Student Loans

ACS forbearance please help

e35 — Sat, 23 Nov 2013 05:11:14 GMT

I was in a forbearance from 11/14/12 thru 3/15/13 in repayment. Then on April 2013 - august 2013 place on an administration forbearance.

My question is? Why do I have a negative late mark for January 2013, June 2013 and JUly 2013.

Is this correct reporting on their part?

Don't where to go from here!

Plus I pulled this information from the national student loan data website

Re: please take a look

e35 — Sat, 23 Nov 2013 05:22:42 GMT

If you would like me to post a the data sheet from NSLD, I will If needed

Re: please take a look

newmomnewme — Sat, 23 Nov 2013 05:37:07 GMT

you shouldn't have any negative notations while in forbearance. period.

Re: ACS forbearance please help

Rikku — Sat, 23 Nov 2013 15:36:17 GMT

Are you sure you understood the situation correctly? Forbearance is not a complete deferment - and depending on the arrangements you made with your lender when you applied, you may have owed them a lower payment amount or interest-only payments during the forbearance. Also, if you were behind on payments before applying and the forbearance was not made retroactively, you still would have had a past due balance during the forbearance period.

If you have proof that you owed nothing during the forbearance period, then the reporting is wrong and you can dispute it. But unfortunately, these things ARE very confusing and it's pretty common for people to misunderstand their status. Call your lender and ask about it.

Re: ACS forbearance please help

e35 — Sat, 23 Nov 2013 16:47:11 GMT

No I didn't owe any balance. I just graduated school on October 7, 2012. Then put on a forbearance on 11/14/12. Do you think I owe anything?

Re: please take a look

e35 — Sat, 23 Nov 2013 16:49:27 GMT

No I didn't owe any balance. I just graduated school on October 7, 2012. Then put on a forbearance on 11/14/12. Do you think I owe anything to ACS that cause these late marks on my credit report?

Working with ACS is so hard

Re: please take a look

newmomnewme — Sat, 23 Nov 2013 21:45:57 GMT

I don't think you would owe anything. After graduation most people have a 6 month grace period...did you have one?

Re: please take a look

e35 — Sat, 23 Nov 2013 22:13:38 GMT

yes I already had it with ACS back in 2009. That is why I was placed on a frobearnance on 11/14/12

Re: please take a look

newmomnewme — Sat, 23 Nov 2013 22:25:02 GMT

exactly. you may need to speak to a supervisor and have them walk you through your account. explain that you graduated, had 6 months grace period, then immediately called for a forbearance it was accepted (make sure you weren't required to make any payments)...they should be able to fix it. Or at least tell you what payments you missed and when.

Re: please take a look

e35 — Sat, 23 Nov 2013 22:36:30 GMT

I already had my grace period in 2009.. That is why I was placed on a forbearance 11/14/12.

ACS is a hard company to work with.

I did call in talk to a representative in she stated that I was on a forbearance 11/14/12 than place on a administrative forbearance April 2013 ( don't even know what that means). But I didn't talk to her about the late.

I been going back and fourth with ACS for months.

I was afraid to even mention it. Thinking that someone would make forbearance disappear like it never existed.

Re: please take a look

e35 — Sat, 23 Nov 2013 22:50:04 GMT

THis is what I found on the web

Forbearance: A period of time during which the borrower is permitted to temporarily cease making payments or reduce the amount of the payments. The borrower is liable for the interest that accrues on the loan during the forbearance period. Some forbearance's are entitlements for eligible borrowers; others are granted at the discretion of the lender.

Administrative Forbearance: A temporary suspension of, a reduction of, or an extension of time for making principal and/or interest payments on a Federal Stafford, SLS, PLUS, or Consolidation loan that is granted by the holder or lender, upon notice to the borrower or endorser, and that does not require a written request from the borrower or an agreement signed by the borrower before the forbearance is granted.

So why want ACS remove my negative late mark?

Do ACS know I was on a forbearnance ?

It is in their computers

I just graduated school in October 2012. PLus I used my grace period in 2009

Re: please take a look

newmomnewme — Sun, 24 Nov 2013 16:54:25 GMT

I thought that you got a grace period when ever you finished a program or graduated....I don't think having a grace period in the middle of your coursework negates the one you should get at the end of the program.

Re: please take a look

e35 — Sun, 24 Nov 2013 18:16:02 GMT

I had my grace period in 2009, due to me dropping out of school than went back to school in 2010.

I never had to make one payment to ACS. That why I was confused about the late marks in 2013

Re: please take a look

SCF — Sun, 24 Nov 2013 22:53:00 GMT

You only get one grace period of 6 months that begins when you drop below half-time enrollment (which does not include summer breaks, you are still considered enrolled during the summer). If you take a semester off, you can use up your grace period and that will cause the loans to go into repayment immediately when you do graduate.

I would call the lender and ask them to walk you through when the 6 month grace period was used and when exactly the loans entered repayment and why.

Re: please take a look

e35 — Sun, 24 Nov 2013 23:21:44 GMT

I did talk to ACS. They stated that my grace period was used from July 2009 until December 2009.

I didn't go into repayment until march 2013. Than place on administrative forbearance in April 2013.

MY late marks are for January 2013, JUne 2013 and July 2013

Re: please take a look

SCF — Mon, 25 Nov 2013 03:09:25 GMT

I'm not sure I quite understand the timeline, but did you ask ACS to tell you their version of the events?

If you used your grace period in 2009, your loans would have entered repayment when you graduated in October 2012. You then say you've had two forbearances to cover October to the present? When you call ACS, do they have the same forbearances showing in their system? Have you just asked them directly how you were late on those dates if you were in forbearance?

It sounds like either you did not have the forbearance at the time you thought you did, or there is an error on the part of ACS, but it could also have something to do with a past due amount that was accrued in the gaps betwen your graduation and the two forbearances.

Call ACS and have a calendar and any paperwork relating the loans (like confirmations of the forbearances, statements, etc.) and see if they can walk you through exactly what happened. Then you can tell them any errors you find and be ready to send them documentation.

Re: please take a look

e35 — Mon, 25 Nov 2013 07:10:27 GMT

Yes ACS told me about the two forbearance and the National student loan data sheet states the same dates as ACS.

I just didn't ask about my late marks

I am afraid that ACS will remove them

WE have not had a good relation lately

Re: please take a look

SCF — Tue, 26 Nov 2013 04:15:09 GMT

Calling and asking how you were marked as late during a forbearance isn't going to cause any trouble for you. ACS can't penalize you for doing that, and the worse that can happen is that they can't explain it to your satisfaction. Hopefully they will be able to though, or you'll be able to get any mistakes corrected.

Re: please take a look

e35 — Tue, 26 Nov 2013 04:23:38 GMT

I contacted ombudsman and CFPB they are looking into it for me.