old student loan express in collections

Feb 192011
 

I have an old student loan about 4 years old that is now in collections. I have been trying to contact the different banks to try and start making payments again but the debt changed hands about 4 times in the last 3 months. Fortress investment group owns it now and they hired eos cca to collect. Eos charged $343interest for the month they had the $1765 debt. What is the best way to handle this, should i dispute the interest, and what is the best way to handle this. In jan of next year i plan on buying a house with an fha my score is 635, one year out of a bk. I don’t know where to start with this one. The loan was partly secured by the gov’t. If i need to pay it off cash then it would be six weeks till i can, but i want to use that money to pay medical bills and credit cards off. thanks for any help.

Making payments while SL is in deferment

Jun 152010
 

I co-signed for my son’s student loan, it is currently in deferment until nov 2011 but will probably get deferred until an even later date as he has decided to stay in school longer than originally planned. I’m in the military and was able to transfer my GI-bill to him so he shouldn’t need anymore SL’s. I’m in a way better financial situation now and want to start making payments so he doesn’t have to bear the burden of SL as soon as he gets into the work force.

 

My question is if I start making payments on a deferred SL and decide to get out of the military and need to not make a payment for a couple months will the previous payment effect the deferment status?  

Question about Student loan Repayment (Interest)

Jun 142010
 

I have some student loans that will be in defferemtn until april 2011, but I want to start making payments in a month on them.

 

If I send in a payment, how is it applied?

 

I have 4.4k subsidized right now at 0% (then 6.8% in 2011)

576.21 at 1.88%

and 7.4k at 6.8%

 

If I send in a payment, will it automatically apply it to the unsubsidized loans at 6.8%, if not, can I request it to be applied to those loans. 

 

 

 

They are Stafford Loans through PNC bank.

 

Consumer Portfolio Services madness

Feb 222010
 

We voluntarily surrendered our vehicle to CPS with a letter that we were asking them to retreive the car “In full satisfaction of the loan”.  They came and got it.  Sold it.  The amount would have wiped out the debt. 

 

Yet they did not apply the amount of the sale to the amount of the debt, they posted on our credit reports that it was an involuntary repossesion, and they tacked on about 5k in fees.  More than the original amount owed.  

 

Now they are showing a complete charge off, but still showing a balance.  we have a collection agency calling my husband’s office and my cell phone, and we have sent clear instructionf for them not to contact us by phone. Also, when we have talked to these people on the phone they have threatened jail time, removal of our children from the home, and much much much worse.

 

I can work with my lawyer to get them to stop all of this, but what do you think?  Should I start making a case to sue them?