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My journey from default and garnishment through rehab

FPapiSalOC
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
Sal214OC
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
Emcarthur
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
MyDataMyChoice
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?


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Message 4 of 15
Sabii
Valued Contributor

Re: My journey from default and garnishment through rehab

 



Message 5 of 15
FPapiSalOC
Established Member

Re: My journey from default and garnishment through rehab

Trellis based out of Austin Texas.

Message 6 of 15
Ap100
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
FPapiSalOC
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
Sabii
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
Sal214OC
Member

Re: My journey from default and garnishment through rehab

I have no excuse for defaulting.

Message 10 of 15
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