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About CollectorGRC

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  1. Actually Sallie Mae is the owner of GRC, and generally the tax offset does not come from our company, however, the debt usually reaches the Attorney Generals office before our office, in which the AG will Offset the Taxes. Thats just from my experiences, some info may not be completely accurate
  2. This is not always the case. In some instances the school has the option to Close and Return the account. No matter how long the account has been in our office, if a school wants to "claim" that the account was placed in error they can to that and C&R the account. In some instances this is when they take the payment in the school and decide to not pay the agency, however most of the school do pay the agency one way or another. Also there is not pay to the CA for an account that has reached its retention period
  3. Hi. One thing you should know is that in most cases GRC does not have any control over how much you can settle for. Since they are a 3rd party collector they have to go with what the school tells them. If the school instructs them to report the account to your credit, then grc will do that, if the school says no settlement then grc has to inform you that no settlement will be accepted. Lastly if the school informs grc that they must request a settlement then grc has to put in a settlement amount and the school either says yes, no, or will counter. When your in a position to settle, call them and let them know exactly how much you have to offer and tell them thats all, if the school allows them to make a request they will do that for you and hopefully it will be accepted. Good Luck!
  4. GRC is a collecion agency who collects for federal loans that have defaulted and non federal accounts receivable debts as well. When we have your account placed in our office we obtain a copy of your credit to assist in your location. As far as you not having a school loan, there are other ways to be in default. The most common way is if you signed up for a class and withdrew or got a pell grant and it defaulted. those become AR debts because the school is the holder of the account, as opposed to it being a loan. If you didnt attend any schooling and your at GRC, we also collect on back taxes for several states. To be certain of what account you have there, just call in. Allow them to pull your file, they will be able to identify you and explain exactly what the account is for. Also, we are only affiliated with Arrow Financial because we are both a subsidiary of Sallie Mae. Sallie Mae owns GRC and Arrow Financial.
  5. Hi. First time i've posted here. jsut for starters I know you all hate CA's however some of us gotta earn a living. I work at General Revenue Corp. Yes we definately do have to abide by the FDCPA. All 3rd party collectors must abide by those laws. As for the SOL, when we intend to litigate we are required to know the SOL for the state of the debtor. There is a difference between a federal and non federal student loan though. As far as the additional charges that were added to the account, those had nothing to do with the CA (GRC at least). The school, or the AG's office, are in charge of all fee's being added. When the account is placed they break down the charges so we can inform the debtor of why the balance is what it is. Interest is assigned by the school as well as default charges. As far as settlements, we have no control over those either. Some schools give us permission to waive some fee's and some say no SIF's (Settlement In Full) are allowed. It never hurts to ask though. Sometimes we are able to request a SIF from the school they either accept, decline, or counter. Thats all for now. If anything else catches my interest i'll reply. Thanks for your time.