|
|
NCO Student Loan Rehab "down payment"?
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Bob
(65.129.24.213) on August 14, 2003 at 11:34:23:
Hello,
I have defaulted on my student loans (approx $12,000)and they have been transfered to NCO Financial Systems for collection. I have been paying $250/mo regularly since March and will be upping that to $400/mo this month. It hurts, but I want to qualify for a home loan in the near future.
When I spoke to the people at NCO they wanted close to $4,000 up front and then the regular monthly payments for 12 months to get my loan in their "rehabilitation" program.
My question is this: Do I have to pay the up fron costs to get my loan into rehab? The $400/mo will be aprox 10% of my gross take home pay. Any advice?
Bob
Follow Ups:
Post a Followup
|
