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My journey from default and garnishment through rehab

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Established Member

My journey from default and garnishment through rehab

 

I want to share my story of my 3 federal student loans.

 

sl loan summary.jpg

 

My wages have been garnished

 

SL wage garnishment.PNG

 

and my income tax was taken.

 

SL Tax offset 0.PNG

rehab

sl rehab.PNG

my loan was just sold.....

sl account sold 1.PNG

 

Hope this helps someone.

Message 1 of 15
14 REPLIES 14
Member

Re: My journey from default and garnishment through rehab

My loan was picked up on Wednesday 2-13 by Aspire .

Message 2 of 15
Established Member

Re: My journey from default and garnishment through rehab

Who was the collection agency you worked with? I wish FMS, would show more information on their dashboard in regarding to the loan information.
Message 3 of 15
Valued Contributor

Re: My journey from default and garnishment through rehab

I don't understand why people let there student loans enter default.... there are so many ways to avoid federal student loan default

Consolidation / Deferment / Forbearance / Income Based Repayment

When you consolidate you get more forbearance time added...

What I am asking is WHY WOULD someone default - is it strategic? Does it stop the interest from accruing? Do they settle?

I have 100K in student loan federally... I Consolidated and IBR I pay aprox 200-250/mo on my income

I plan on aggressively paying them off 2450/mo over the next 3-5 years to get them out of my life.



For people that let them default -- why not rehabilitate them?





Family Member made me an AU on: 2008 Sears MC $2,001, 2016 SEARS Store Card $2,001, 2011 Synchrony Home $5,500 , 2003 FNBO Visa $9,900, 2008 Macys Amex $1900, 2008 Kohls $2,000, 2008 JC Penny $4,500, 2016 TJX Mastercard $1,500, 2019 SDFCU PowerCash Visa $10,000, 2018 AAdvantage Aviator MC $5,600, 2018 HSN $4,500, and 2016 Local Credit Union Visa $5,000. Waiting on them to all report over the next month... Only Kohls is reporting so far... WITH AGE. They use AZEO method.
Member of:
Andrews FCU (Share), PENFED CU (Checking/Share), SDFCU (Share), Alliant CU (Checking/Share), NASA FCU (Share), NWFCU (Checking/Share), Ally Bank (Checking/Savings), BofA (Checking/Share), Navigant CU (Share), Greenwood CU (Share), Elements Financial CU (Share), Ocean State CU (Share), SDFCU (Share), Wells Fargo (Checking), RI Credit Union (Share), CashApp, PayPal Premier (for free direct deposit access with cash card), Paypal Business - Grandfathered 1.5% Cash Back on Biz Debit), Apple Pay Cash, and Venmo.
I WANT to join: Hanscom FCU (For the 2 day early direct deposit).
Burned:
DCU, NFCU, Comenity, Synchrony, Barclays, Discover, Amex, Webbank (Avant), Santander, Citi (Shell), DSNB (Macys), TDRCS (Target+Nordstrom), Capital One (Personal & Business, Kohls, and GM), CreditFirst(Firestone)
Message 4 of 15
Valued Contributor

Re: My journey from default and garnishment through rehab

 



Message 5 of 15
Established Member

Re: My journey from default and garnishment through rehab

Trellis based out of Austin Texas.

Message 6 of 15
Established Member

Re: My journey from default and garnishment through rehab

I defaulted and now just finished rehab. My personal reason for defaulting was bc when I was young (18/19) I didn’t have anyone to show me or guide me on what to do or what’s the right thing. But I know better now and just rehabbed Smiley Happy
Message 7 of 15
Established Member

Re: My journey from default and garnishment through rehab

Trellis loans transferred.PNG

 

I finally got a copy of my rehab completion letter.

 

 

Message 8 of 15
Valued Contributor

Re: My journey from default and garnishment through rehab

FPapiSalOC: Congrats! Won't be long until you start seeing some changes on your credit report, although it can take a few months.
The letter says you'll be on the Standard repayment plan. Were you able to sign up for an income-driven repayment plan yet?



Message 9 of 15
Member

Re: My journey from default and garnishment through rehab

I have no excuse for defaulting.

Message 10 of 15
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