 Does anyone know or dealt with wescot credit services? |
| If so did you pay them, if you did not pay them did they come after you ?... |
|
 Is there anyway I can get a credit card with bad credit and no money? |
| I'm trying to get goverment grants and home business starter kits but they all require credit cards and i don't have one.Does this mean I should just give up?... |
|
 Is my credit rating a good one???????? |
| I am 23 and i have a credit rating of about 753, is that good for my age.... |
|
 Credit card question...? |
Is having 2 mastercards and 2 american express cards too many? Is this a good number of cards to have?
Also, I do not like citicard! Does it hurt my credit rating if I cancel my citi ... |
|
 One of my creditors i suing me. What can they do to me and can I protect myself? |
| I received a letter at home yesterday informing me that one of my creditors is suing me. I'm 21 and a full time college student who lives 3 hours away from home, which is where the case is. T... |
|
 What is a good zero percent credit card? |
| I am looking for a good credit card that offers an extended period of zero percent interest.... |
|
 A friend is leaving the country for Spain to start a new life....? |
| thing is he's not intending to settle his CC, loan etc. debts before going. According to him no one will bother tracing him for the debts, I've heard different and that the debts are sold ... |
|
 Written asked not to contact me at work and still do? |
| I have missed 1 1/2 payments on my car lease agreement. I intend on doing a voluntary repo at the end of the month. However, I have given a written request for them not to contact me at work and ... |
|
 Can I get financing to buy a house without having a job? |
| My husband has a full time job in the military but we need the home loan for to go on my credit because his credit is taken up. I am a stay at home mom without a job.... |
|
 How can I report a person who won't pay their debts to the credit bureau? |
| a man owes me a large sum of money & won't pay. How can I get this to show up on his credit report?... |
|
 HELP! husband has garnishment judgement against him!? |
| While visiting my "lovely" in-laws this evening my MIL gave me some mail of my husbands that she had "forgot" about. Amongst it was a court summons from over a year ago in which ... |
|
 Is it legal for medical bills to go on your credit record? PLEASE HELP!!? |
| Is it legal for medical bills to go on your credit report? someone said it wasnt because of privacy but i have some on mine from an accident i was in last year... if its not legal how do i get them ... |
|
 Has anyone received their Stimulus check via direct deposit? |
| I got my hopes up when I heard ALL direct deposits will be done May 2nd. Is it rumor or speculation? IRS doesn't seem to have updated information but some financial webcites are stating a new ... |
|
 A collection is deleted from my credit report, do I still have to pay them? |
| I made a settlement with a collection company, I did some research on the web and decided to dispute them on my credit bureau, 30 days later the credit bureau deleted the collection account from my ... |
|
 Can creditors still come after you even if the 7 years are up? |
| I was stupid when i was young and messed up my credit. My 7 years went by and now my credit is good, but today I got a suprise letter from a collector about $500 dollars I owe from 1998? I just ... |
|
|  |
greenletterday | What happens if I don't pay a Sallie Mae loan? |
I went to college FIVE years ago and my parents co-signed for a Sallie Mae Loan. I'm not sure if thats a government loan or not. I only went there for one year and then came back home and paid for my classes in cash. I was contacted by the school shortly afterwards about paying the debt, since the loan had been cancelled. Roughly speaking, I owe about 10,000 dollars.
I was 18 at the time so, I didn't have that kind of money and didn't care about it either. A few years later, I wanted to start making payments so I emailed the school asking for a balance and payment plan. I never got a response, nor did I ever receive another letter from them. It never appeared on my credit score so I figured it had passed.
Now, five years later, I receive a call from a collecting agency saying that the debt has been passed on to them just yesterday. They want me to pay the full balance right away or pay 921 a month for the next twelve months. I can't get approved for a loan. What should I do? |
 |
 
VT
 |
No, you won't go to jail.
But here's the bad news: a student loan cannot be discharged by filing for bankruptcy. And since your parents co-signed, they're on the hook with you, financially and legally. Their credit history can be ruined by your past behavior.
For starters, visit www.creditnet.com These are experts on all the legal problems associated with credit. It's an excellent message board full of heavy hitters who've been through it all. Before you contact the collection agent, ask the people at creditnet about debt "validation". It's an important first step.
Also, get an attorney who's experienced with student loans, or go to the National Federation of Credit Counselors for expert advice. Once it goes to a collection agent, you face legal challenges in the courts, as well as credit history challenges.
Do NOT use the phone when dealing with collection agents. Do everything in writing, certified mail, return receipt requested, and save copies of everything. Written documents are your ammunition in court. |
|
Mistress
 |
You can deal with those collection agencies. If you can't afford $900 a month, you can't pay them that much...tell them you can only afford $100 a month (or whatever your price is) and they'll work with you.
Usually they will settle at about 50% if you can pay it off all in one chunk or in 2 or 3 payments... |
|
Beagle Lover
|
my cousins work for sallie mae in new york. you'll have credit collectors calling you non stop until they get their money. if you dont pay it, its like any other loan - your credit will get f*cked. so will your parents since they co signed. |
|
glorymomof3
|
Pay Sallie Mae directly- or they will default your loan (which they probably have already done) and take your taxes. I would say start off with about 200$ a month to Sallie Mae (you can find the address to send $ to on the internet or go through your old papers and find the coupon payment book). The bill collectors can do nothing to you if you are paying on a bill. I would not contact them. Find your old account number- keep all records of your payments and pay off a bit each month.
With you not paying the loan- i am sure it hurt your parents credit score. however, you can pay it off. Keep all records of any contact made to Sallie Mae. |
|
Renata
 |
The worse case scenario is you can't agree on a payment plan with the collection agency and you have to find a bankruptcy attorney and file Chapter 13 which allows you to pay off your debt in small payments (in your case they could be as low as you can afford). Note: this type of bankruptcy does not erase the debt, it only sets up a manageable payment plan.
I would say negotiate with the collection agency. Tell them you can pay, say, $100 a month for a few months. If the loan is in collections, your credit is already damaged severely. If they won't leave you alone and won't agree to a monthly payment you can afford, then go for the bankruptcy option. But even that costs like $1000 in attorney's fees to file. Student loans are from the devil. |
|
Jennifer U
|
You need to try to make arrangements to pay it. I am sorry that you were so young and didn't understand that you have to pay back a student loan. You don't have a choice or they will go to a judge to get a judgement against you to be able garnage your wages. You can't even file bankrupacy on a student loan. I would talk to the collection agency and see if they will work with you if you can't afford 921 a month but you need to tell them you are willing to try to pay the amount off. |
|
fitforlife0032
|
Since this is a student loan you can not negotiate a pay off price, you owe the outstanding balance in full. They should work with you on payment terms, you can't get blood out of a turnip! Student loans also can not be filed in bankruptcy court, call them back and work out a reasonable payment plan. Next they will be calling your parents for payment since they co-signed, can't get out of student loans. |
|
Priceless Purity
|
Sallie Mae will jump out of her boot after you with her broom yelling at you in Japanese. |
|
santhosh k
|
U will be in Jail |
|
Mimi
 |
I think the college probably called the loan themselves after u had called them. Bad idea, you should not have decided to go back to pay your loan back, just should have left them. Now they're after your money. Take my advice, do all you can, to get a job perhaps? Two jobs? To pay this back? Paying back loans are probably somebody's worst nightmare. |
|
k
|
This is the truth about credit bc I did this. Several years ago I had a sears credit card. I could pay it off. They took me to court which I skipped out on. The ruling was against me. I never paid it back. By law it can stay on your credit for seven years from when the card was open. After seven years that negative remark is turned into a positive remark and stays on your credit for 7 years per exprian credit report. Any kind of Bankruptcy can stay up on your credit for 10 years. Then it is turned into a positive remark after 10 years. The ruling in court never showed up on my credit report. Also experian automatically adjusts this. By law you can request 1 free credit reports from one credit bureaus. If you want all three here's how you can do it. Apply to 3 different companies. Example one for trans union, experian, and the other credit bureau. Let's say dell computer you applied for credit and they denied you figure of speech. In a couple of days you will received a denial letter and from that letter you can request a free credit report from the company that they chose to run your credit. Usually it is downloaded and you will need to save the denial letter. Once your in their website it will have laws regarding delinquency etc. If you print off your negative report per experian it will give a date when it will be taken off your account. I don't know about govt loans but I have sally mae and my account is in a collection agency. They would not offer me a forbearance on £my loans. I was always on time with my payments until I lost my job. Theyrefused to work with me. All my other loans are in forbearance. They tried to scare you into paying but when your broke what can they take. Also my friend told me to send them 5 dollars a pay since I'm on unemployment. He said make sure you either send it as a check or money order so you can document it. Do this every pay. If sallie mae sends the payment back due to not enough money and they take you to court you have proof that your were at least trying to pay and they refused my payment and basically they screwed themselves. Also keep track of unemployment payments, rent, car payments etc basically everything you pay out. This way you can show proof that all your money goes to utilities, rent etc. Hope this helps. Remember they will not throw you in jail because you can't pay. You can't get milk from a dry up cow can you. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 9 minutes(s) ago
| | | |
9 | 14 minutes(s) ago
| | | |
9 | 39 minutes(s) ago
| | | |
8 | 3 hour(s) ago
| | | |
9 | 5 hour(s) ago
| | | |
7 | 9 hour(s) ago
| | | |
9 | 11 hour(s) ago
| | | |
9 | 1 day(s) ago
| | | |
9 | 4 day(s) ago
| | | |
9 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
