Student Loans-Guarantee Agenci

Discussion in 'Credit Talk' started by steve, May 22, 2000.

  1. steve

    steve Well-Known Member

    OK. I want to hear some stories about student loan nightmares. Has anyone been reported as being 120 days currently past due on GSL student loans that were previously paid in full? It seems the Northwest Educational Loan Association (Guarantor for GSL loans in the State of Washington) thinks it is their duty to report formerly defaulted borrowers as being 120+ days past due (currently) on a regular basis for 7 years after the loans are paid in full. They don't feel like they have to update the status column either to Equifax. Actually, it seems they also think they can charge a 33% collection fee on top of the 25% collection fee already charged by the collection agency they previously referred the account to after the loans are reconsolidated. Has anyone run into anything like this? I filed suit over this in January and am in Discovery right now. Anyone who can testify to a similar problem or complained to the Dept of Education in writing to no avail might get free air travel to Seattle out of the deal. Respond here or let me know directly.

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