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Re: Student loans


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Posted by FLgal (64.12.116.18) on August 23, 2004 at 10:22:25:

In Reply to: Student loans posted by lkg4ansrs on August 23, 2004 at 01:28:06:

I am in the same boat... defaulted loans that are now with Van Ru. I've been trying for a year to get them rehabilitated but Van Ru won't respond to my letters. They cashed 2 of my checks last fall but ignore my request to rehabilitate. I talked to the guarantee agency and they said Van Ru is REQUIRED by law to rehabilitate the loans and set up monthly payments that are affordable to me. After 12 months of on time payments, the loans are rehabilitated and go back to the original lender. Your credit reports will be updated to show the loans in good standing. I don't know about the interest and fees. I imagine they won't take those away. But from what I understand, once you rehabilitate, you can then consolidate your loans and even stretch them out more than 10 years to bring the monthly payments down to a reasonable amount. Mine suggestion is to call Van Ru and tell them you want to rehabilitate. If they say you can't or must pay in full or whatever other lies they come up with, ask them to send that to you in writing. Then you have proof they aren't cooperating and can get the Omnibudsman involved. I'm almost to that point. They've ignored 3 letters from me and I just sent a fourth a couple weeks ago. If they continue blowing me off, I'll get the omnibudsman on it.


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