Hello all, I had a loan with Sallie Mae default. I tried to rehabilitate the loan; however, the collection company would not accept anything lower than $1000 per month payment for a year. From my understanding, it's supposed to be a reasonable payment, but they would not do anything lower. Any suggestions?
Your agreement should be for 9 payments over a 10-month time period. Yes, they must be reasonable payments, but "reasonable" could really mean anything depending upon how large your student loans are. Have you tried taking a look through the DOE Ombudsman website and contacting them for guidance? They will work with you and the CA to resolve problems if you haven't had success getting things worked out yourself.
