Please note that I posted this message earlier today. I'd like to re-post it to look for any services that are willing to help me for a small fees or any suggestions or comments would be much appreciated. I've had a student loan that is currently in Rehab program w/ a collection agency. I signed a contract which stated that I will make "12 consecutive monthly payments" and due on 3rd of each month. I've been making payment since January of this year. During May my wife decided to separate me and take my daughter with her. I was so depress and afraid that I might miss my June payment; therefore, I sent my payment earlier. It was cashed on May 30th. I continued making my July and August payments without realizing that my May 30th payment was not considered as June payment. Neither the collection agency and my institution have noticed me about that until I called my institution to ask for a release to request my transcript. I was told that they did not receive my June payment. I was totally shocked and almost burst into tears. A suggestion that I got from my institution is to call the collection agency to ask for extending my rehabilitation payments to another 10 months. That means I have start over from July. Is it fair for me? Please someone tell me what to do or show what steps I need to do in order to get my May 30th to be considered as June payment? My email is docugan@yahoo.com Thanks!
Hi Tony, If they did in fact cash the check it seems like a fairly easy problem to resolve. For one thing I would start with CRRR and explain the situation exactly the way you have here. Start by demanding an complete accounting statement. If they didn't post your payment properly where did it go? Hang in there.
First of all Tony, don't worry. It'll work out. Sorry to hear about your family, I grew up in a divorced home and know the struggles. I'm a praying man so I'll pray for you. About your loan situation. There is no need to pay anyone. If you do enough searching here on this board (via the search engine you will find answers to most of your questions. I would first recommend that you get copies of all your cancelled checks and a copy of the agreement you worked out with the loan agency. Write a brief letter describing the situation. Then call them and find someone who will listen. It may take several tries, but there is always someone willing to help out. Fax them your letter with copies of all the checks (copied both sides) to prove you are up to date with your payments. They should also have access to your loan payment history. Don't take advice from your institution, they most likely cannot tell the difference between credit repair and credit reaper. After you finish your 12 months of payments, you should be able to dispute the loan history and get it deleted or at least to show paid on time, but this will only happen after the loan is 'converted' Again, don't worry, it'll work out. Just educate yourself and be patient. We are all (well, most of us) here in the same boat.
