Re: reply to linda LONG

Posted by joanne (217.162.250.103) on June 02, 2002 at 09:48:25:

In Reply to: Re: reply to linda LONG posted by Why Chat on June 02, 2002 at 07:49:17:

the dept of ed speaks the truth, although they make you deal with the CAs, in their words " they are us", you can consolidate after three on time reasonable (not under 50 dollars per loan a month, depending on the loan amount) but even the lady at dept of ed, said, the CA is going to try to get you into consolidation so the loans are paid on our end, BUT DONT DO, the reason is, all loans will be with a zero balance, but remain noted defaulted, and all the million late posts,, yah you can combined all, up to a 30 yr period, lower payment, and literally destroy your credit for another 7yrs, as my loans were defaulted in 3/1997, its better to rehab all loans for 12 months, get them out of default status, have all neg info deleted, then consolidate, its better to struggle and find a way to pay alot for 12 months, then take a lower payment after 3 months,, also the dept of ed, told me " DO NOT after your 12 payment assume all is rehabed, and consolidate, wait till you get a letter from us saying they are rehabed and check your credit" this can take another 3 months, till rehab is successful, meaning they have sold, replaced the loans with lender, so all in all it can take 15 months dept of ed said,, my problem is,, I dont trust the CA, you dont pay them, you pay the dept of ed directly, they just chase you,, but the CA is an affiliate of gulf state, sued many times in federal court, they told me,,, after 12 payments the CA fees ( WHICH ARE MORE THAN THE LOANS) will be waived,, I never got that in writing, and now I am thinking,, yah what am I paying on, their fees for 12 months, then the remaining laon and interest has never been touched, and also, yes the will update dept of ed tradelines, what what about the original sallie mae tradelines that are sold/transfered to dept of ed in 3/97, they CA told me they would be updated also,,,,,, I need to call the dept of ed, and see where I get with them, I want something in writing, sa I am just blindly sending 169 amonth, a see nothing,,,,,,

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