I recently started rebuilding my credit and have made some good strides torward getting a clean report. So now I have decided to help my fiance improve her credit reports as well. I noticed that she had a ton of problems in the past with her student loans. Well she has had recurring payments since January 2016 out of her bank account and tonight I decided I would change it over to our joint account so I could keep track of all money in and out of our accounts.
Well I found out her loans are in default status and it shows payment due today of $8114.12. I kept looking around at her account online and found out that she entered student loan rehab in January 2016. She makes $175.00/mo pmt. and has not missed a payment since starting her rehab over 2yrs ago.
I found her rehab terms of agreement, and the #1 term states that she is in default 8114.12 and needs to make 10 montly pmts of 8114.12 to complete rehab.
What??? 10 monthly payments, each equal to the entire amount of the loan? Obviously this is some sort of typo, however, I think because of the typo it screwed up her rehab and is still showing in default.
I am having her call Great Lakes tomorrow to figure out what is going on and why her rehab isn't showing completed and loan as current instead of default. I am really confused about this whole rehab stuff as I havn't missed any payments ever on my SL and was unaware that she had defaulted on hers in early 2015.
Has anyone else ever had this happen? Since she should have been finished with her rehab in October of 2016, shouldn't her loan also have went current by November 2016? Because it is still in collections, they charged her another 200.00 collection fee at the beginning of 2017, should she try and have that collection reversed? Does this rant even make sense?
Thanks in advance as any advice would be helpful.
