Hi.......I had a question in regards to a student loan situation that I am currently in. After applying for a mortgage, I notice that US dept of Education was reporting that my loans were in default W/PASS DUES. ( I am currently in school and my loans are deferred until my graduation). I contact them and asked if they could fix the problem and fax a letter to the mortgage co. or to myself and they declined......Things got heated over the phone. I told the young lady that I would not take out another loan or pay back any loan if they problem wasn't fixed in the next day. She then threatened me sassily with the consequences of not paying the loan back. NOW MY QUESTION IS "IF THEY ALREADY MESSED UP MY CHANCES ON GETTING A HOUSE, WHAT OTHER CONSEQUECES WOULD I HAVE BY NOT PAYING A $22K STUDENT LOAN BACK?
All future tax refunds seized, garnishment of wages in the future, seizure of assets - it's ugly. Trust me, you don't want to go there! Do a search on the board for DoE and find the contact number for the ombudsman, and have them help. Good luck.
Here is a link to the Dept of Education's Financial Aid info site: http://www.ed.gov/topics/topicsTier2.jsp?top=Financial+Aid&type=T&subtop=Repaying Here is a link to the DOE's Ombudsman's page: http://sfahelp.ed.gov/ombudsman/index.html HTH, John
There is no option for not paying back the US DOE. They can garnish your wages, seize bank accounts and take your income tax refunds. All this without ever having to go to court for a judgment! It is practically impossible to declare BK and include student loans. There is no SOL. Have they explained where they're getting this 90 late from? Was it genuinely a mistake on their part or do they feel they are reporting correctly?
