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?
2007-03-08
03:18:37
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9 answers
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asked by
greenletterday
1
in
Credit