Hi. Hopefully someone can help me because I am in a bad situation. I consolidated my loans and missed one of my Perkins loans and it fell delinquent and was moved to a collection agency. The collection agency could not reach me and it fell in the hands of a law office. But the law office did not pursue litigation instead coerced me into a ridiculous payment plan that I cannot afford. According to the higher education act I have the legal right to bring this out of default does anyone know how?
2007-12-04 12:52:03 · 3 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Contact the US Deprtment of Education.
2007-12-04 13:02:44 · answer #1 · answered by Bill 5 · 0⤊ 0⤋
The collection agency LIED. The 'law office' WAS the collection agency. If they had actually turned you over to a law office, you would have been dealing with rational people that would NOT coerce you into a payment plan or even consider a 'ridiculous' plan.
As for bringing the loan out of default, you will need to come up with the FULL amount of the missed payments. If you actually KNOW you have rights under the higher education act, you should know the process from the same source. I am willing to BET you heard you had rights but would not recognize the act if I read it to you.
2007-12-04 21:30:25 · answer #2 · answered by STEVEN F 7 · 1⤊ 0⤋
you just have to get the payments up to date, then it will be out of default
2007-12-04 21:43:34 · answer #3 · answered by Anonymous · 0⤊ 0⤋