Need student loan advice - how to handle Collection Agency
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Posted by Jade (203.96.111.201) on July 01, 2002 at 02:19:28:
A few years ago I had to drop out of school due to the ending of a relationship. I could not afford to pay on the student loan and it went into default. I've since married, but at the moment, we still can not pay on it. We filed injured spouse forms with our taxes the last 2 years so that he could get his return back. I received a notice from a CA in California that they now have the defaulted loan. I'm currently taking a course so I can find a job when I done. I'm planning on being finished with the course and hopefully working by the end of this year/beginning of next year. I then planned on getting my student loan into rehab. Now that I got this letter from the CA, I'm not sure what to do. Should I send them the standard validation/dispute letter? I'm pretty sure they'll be able to validate, but at least I would have copies of the paperwork. I'm thinking that once they validate, then I can write to them and tell them what my plan is and hopefully hold them off from taking any legal action so I can get situated, get a job and get this rehabbed. I looked at the financial statement from the Dept of Ed, but I'm pretty sure that won't work. They don't consider credit card payments and we're barely staying afloat as it is.....can't afford what they will most likely want. We could swing probably $25 a month until I get to work, then we could do more, but I don't know that the CA will accept that small of an amount. Anyone have any experience in dealing with this kind of a situation? As I said, I fully intend to take care of it, but we just don't have the resources to do it right now. I don't want to ignore the CA on this, but I don't want to make things worse by doing the wrong thing either. Thanks.
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