Student Loans in Default--where to begin?
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Posted by Charlie
(66.72.181.97) on October 27, 2002 at 20:38:49:
I defaulted on a couple of federal (Perkins) student loans around 1992. I know that I'm SOL for an SOL on these but feel that it's time to pay them back. No doubt they've been sent to CAs (nothing about them appears on my CR because they were from so long ago). The total of the loans was about $3500. I'm going to call the college that I was attending when I took out the loans and am assuming that they'll refer me to a CA. I'm already paying on another hefty student loan and can't really afford huge payments on these two other ones. What should I expect when contacting the CAs? Will they work with me? Are they obligated to take only what I can pay? Can I consolidate these two with the other loan I have if need be? Any advice is really appreciated.
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