I thought I had a defaulted federal loan but I wasn't on myeddebt so I called to ask. I was told something about "guaranty agency at the state level". I don't know what this means. And what it might mean for my rehab?? Anyone??
Starting Score: FAKOs EQ 537 TU 497 EX 517
Sorry. For the rehab I just finished. I'm on pins and needles waiting to see this come out of default and that new bit of information threw me. I still don't know what the fed vs state details are but I called the default department of my SL servicer tonight and got confirmation that everything is on track for my rehab. I was told that it is just a matter of them pulling the account out of collections and mailing out the letter. I told the rep that I had done a lot of reading online and heard about people waiting awhile for their loans to get picked back up and he told me that this was only the case back when the ecomony crashed but not these days.
Exciting! I'll bet this means your loans have been picked up. Once mine weren't on the myeddebt website anymore, things went pretty quickly. Now the trick is seeing if you can find out who the new servicer is. Have you checked the NSLDS website? They might show the new servicer....although you will get a letter. It's just less fun to wait and see, you know? 
@InvincibleSummer3 wrote:Exciting! I'll bet this means your loans have been picked up. Once mine weren't on the myeddebt website anymore, things went pretty quickly. Now the trick is seeing if you can find out who the new servicer is. Have you checked the NSLDS website? They might show the new servicer....although you will get a letter. It's just less fun to wait and see, you know?
It is exciting! I didn't know about myeddebt until about a week ago, after I made my 9th payment. I checked the site and I wasn't on it. That's why I called them tonight and was super confused when the rep started talking about the state level. Either way I'm so glad I called my servicer. The rep explained that my account will most likely be sent to customer service. Meaning that I will stay with the same servicer just out of the default department. I've checked NSLDS and I'm still listed with the same servicer and it lists my 6th payment toward rehab but it hasn't updated to 9th or to rehab complete.
I am so grateful for this forum and for the opportunity to rehab. I just have to be patient now, which is so hard! I'm happy though.
@InvincibleSummer3 wrote:Exciting! I'll bet this means your loans have been picked up. Once mine weren't on the myeddebt website anymore, things went pretty quickly. Now the trick is seeing if you can find out who the new servicer is. Have you checked the NSLDS website? They might show the new servicer....although you will get a letter. It's just less fun to wait and see, you know?
Ditto. Once mine were picked up myeddebt.com did not list the loans anymore and showed $0 where it previously showed a balance. The NSLDS did not show any updated change yet so I called NSLDS and they just told me to call my rehab servicer who already told me they were closed out and sold. They gave me the number to DoE Debt Management & Collections since they are the listed guarantor on NSLDS (click the little loan number icon and it will give you the detail) and they were able to tell me the loans were bought by Nelnet. I called Nelnet and they confirmed that they had just picked them up a few days earlier.
Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden