Re: NCO Student Loan Rehab "down payment"?

Posted by Bob (65.128.217.197) on August 14, 2003 at 13:24:15:

In Reply to: NCO Student Loan Rehab "down payment"? posted by Bob on August 14, 2003 at 11:34:23:

These are federal student loans. I'm not sure how, but there are a total of 4 Loans. (One loan was taken out, and I guess they split it up).
NCO said they needed 25% up front to enter the rehab program (from one of the replies it looks as though they want their money up front). The more you put down, the less your monthly payments would be. In any case, my payments were to be anywhere from $600-350/mo on a $12,000 balance with the downpayment.
I havn't talked to them in a few months, but have gotten letters stating that I owe them 1000/mo. I'm kinda reluctant to talk to them figuring they're gonna screw me more.
As I said earlier, I have made prompt 250/mo payments since March (6 months).
Do you know if my tradeline should say "rehabilitation program"? It looks bad when I have 4 separate collections for basically one loan. Thank for the help so far!

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