I have a ton of questions about my student loans and credit report. Too many to list them here. Does anyone know where I can go to get help that won't cost me too much. I don't want to go to any of the supposed "non profit" organizations out there because I know their info will be biased. In desperate need of help... Sherriann
Why don't you just go ahead and ask the first few questions that are worrying you the most? There are quite a few people here who would love to help out. Plus, it's definitely worth it to try and handle things yourself while learning along the way. When you've done all you can do, you can also reach out to the FSA Obmudsman who can provide assistance with your student loans, if they're not private loans.
Don't guess I know what you are referring to Joshua. How about some additional info or maybe a link to the Ombudsman you are talking about?
back story is I am divorced, my ex was supposed to pay for half of the loans... I have 10k in loans all together. He never paid his portion and I was unable to pay my portion due to not being able to work due to a disability. I took all the forbearances and deferments I could. When I told the loan agency I couldn't pay due to my muscle disorder I was told I needed to get on SSI Disability and then I could have the loans canceled. I have applied for SSI, but have been denied (I am told it takes several tries and can take years to get qualified) So now according to my credit report the sallie mae loans are paid through insurance and claim filed with government and now ECMC (educational credit management corporation) has marked my report with "in collections since oct 09) on record until 2016. I have another loan, but I leave that out for now. I need to find out the best way to deal with this. Can they, or will they, take me to court over this and put a lean on my home if I don't do something about it? They post that it will stay on record until 2016. Can they renew that or will it really drop from my record and if yes, will I still owe on it? or is there a statute of limitations on it? (I am not sure if my loans are federally backed or if they are private loans... I believe they were perkins and stafford loans through a community college). I know that you can consolidate you loans, rehab them, IBC, ICR, pay it all off. I am concerned about the effects on my credit, not that I am planning on making any loans any time soon, but maybe in 10 yrs. All of this is really stressing me out and there is sooo much info out there it is overwhelming and you don't know who/what to trust since you don't really know who is behind the web sites who may have biased info on their sites. Thank you for your help!
If they are federal loans (I think Perkins and Stafford are, but I'm not sure) there is no statutue of limitations. They can take tax refunds, garnish your wages and bank accounts. How long it stays on your credit report has nothing to do with how long they can collect. I think you should do as Joshua suggests and contact the ombudsman. Don't stress out, just find out what the situation is. Then come back and post and we'll see what we can do.
Thankx sooooo much. I can usually research things myself and get to the point I feel educated about something, but this is so out of my league! Thankx for you support! I am considering contacting the lender instead of the guaranty agency to see if they would negotiate with me. I just wish I knew more about how much less they might be willing to accept if I gave them one payment.
I am reluctant to call obudsman. I have read that they really work for the government so their efforts is going to be to get me to pay as much as possible and I have nothing to give. It also says on their web site that you have to have tried to work something out yourself before contacting them. I have serious health issues and have not been able to work in years.
