Is it true that once you have a judgment against you that you do not qualify for student loan rehabilitation? The collection agency (Wexler and Wexler Attorneys) said this in a letter I received today. It also stated that while it is true that under "rehab" you must make 12 consecutive monthly payments, that these payments are substantially higher that normal. It also said that I must send a payment immediately or further legal action will be taken against me. I really want to repair my credit but if I just send them payments every month will that clear up my credit record. Any help would be greatly appreciated. Kim
Well, I got my rehab payments to be 100 bucks.. my loan is only about $4,500. I know they have to be at least 50 bucks a month. It was a really easy process... the guy was like, ok send in your first payment, and then we will invoice you every month, 12 months, we delete all negatives, and then you can do whatever you like with the new good loan. I am not sure about judgement.. how much is your loan?
i have never heard of a jdugement for student loans, maybe a lien... how much do yo owe, when was it charged off and how many loans do you have. You should get you information off the sallie mae website (assuming these were fed) and find out who is servicing your loans.
The amount owed on the student loans with collection fees ect. is $6000. The loan was originally serviced by the Illinois Student Assistance Commision. They turned it over to Wexler and Wexler approximately six months ago who had papers served on us about three months ago saying we had to be in court (400 miles away) on a certain day or they would enter a judgment against us. How ironic, we defaulted on the loans when my husband lost his job (company shut down) since then he has had various jobs, low pay, no benefits, lay offs. He finally got a wonderful job, pay o.k., great benefits no worry of layoffs ever and his first day of work was they day we were to be in court. We want very much to pay this, agreed on a payment of $100 a month with Wexler and Wexler but we really want the rehabilitation in order to straighten out our credit.
well, even if you hve judgement, there is a certain amount of time after judgement you can modify (?) or still answer complaint. I would call us dept of education and ask about the loans or illnois dept of education and ask them if i can rehab the loans before i contact the creditor.
