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Help question about rehab

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Jvar87
New Member

Help question about rehab

I am rehabbing my SL Thur a comserve CA. I also have payroll garnishment 15% a week. I have just did the math. My garmishment will pay my loan off b4 my rehab is finish. Can anyone please help me. What should I do?????
Message 1 of 10
9 REPLIES 9
elleng81
Contributor

Re: Help question about rehab

My wages were garnished as well but as soon as I made two payments into my rehab program they halted the wage garnishment. It was also in my agreement that I signed with the collector (GC Services).

Message 2 of 10
InvincibleSummer3
Established Contributor

Re: Help question about rehab

Jvar, have you spoken with ConServe about stopping the garnishments?

Message 3 of 10
Jvar87
New Member

Re: Help question about rehab

I spoke with conserve. They can't stop the garnishment. I have on made 2 payment. They offer me a settlement that would include 3 month of garnishment and plus about $200. I am already strapped for extra after the garnishment. Should I take the settle and work on my credit, I also can try to take a loan out once the 6 monthly payment goes in. So that I can try to get some of those late clear up.
Message 4 of 10
InvincibleSummer3
Established Contributor

Re: Help question about rehab

I'm not understanding your statement about taking another loan out once the 6th payment goes in, nor how that would clear up your lates. If the loan is paid off before you finish rehab, how is ConServe going to report? Did they say?

How much is your loan total?
How much is the garnishment (roughly), and how much is your payment to ConServe?

Message 5 of 10
Jvar87
New Member

Re: Help question about rehab

2100 left on the life of the loan
$80 a week
38 a Month for rehab only made 2 out the 10 payment
Message 6 of 10
InvincibleSummer3
Established Contributor

Re: Help question about rehab

Rehabs are usually "nine payments over a 10 month period", so if you've made payments for February and March, you'll be cutting it close. You could be finished by October but at $80/week you'll be paid off by then. The $2100 is the total loan? Usually there are collection fees, etc. added on to this.

 

Personally, I would be inclined to stick it out with the rehab if it were me. If you take the settlement, that will stay on your credit report for a lot longer. I would also call and ask them directly what happens if the loan is paid off through wage garnishment before the 10 months is up - how will they report, then?

Message 7 of 10
Jon85
Frequent Contributor

Re: Help question about rehab

I didn't do the math, but is there any way that you can have them lower your monthly payment since they're already garnishing your wages any way? That way maybe it would still leave some leftover. 

 

Message 8 of 10
InvincibleSummer3
Established Contributor

Re: Help question about rehab

Jvar, I was thinking about your situation as i was sitting in traffic on my way to work this morning. If this were my situation,  I would ask ConServe straight up what would happen if the garnishment paid the loan off before the end of the rehab period. Here's the thing: you entered into a good-faith agreement with them to rehab a loan, and as long as you are keeping up your payments as agreed, you have a right to argue for getting the default notation removed from your credit report. Even if the loan is paid off prior to the 10-month period.

 

Call them up. Explain that you are being garnished AND making rehab payments, and this could pay off the loan before the end of the rehab period. Make them tell you what happens then - if they agree that yes, you will have successfully completed rehab and your credit report will be cleaned up, then great. You'll have finished early, and that's awesome. If they say no, you didn't make nine payments and the default notation will stay - ask to speak to their supervisor. Then have that same conversation with someone who is in a higher-authority position. Go up the chain if you have to. Don't be afraid to advocate for yourself. It will be to your advantage in the end.

 

I say this because in the last couple of weeks it's become increasingly clear to me that sometimes, the customer service people are misinformed. I had a situation myself just this week where I had to ask for supervisors three separate times. I was polite, but those calls aren't easy for me. In the end, I was glad I did it.

Message 9 of 10
Jvar87
New Member

Re: Help question about rehab

I call the Default Resolution Group told them my story. Now they are Sending me a letter for another hearing. Since conserve I only wanting to settle. Hopefully everything goes well will keep the board inform of my result.
Message 10 of 10
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