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About littleMikey

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    new york
  1. LOL top DOE collector with 0 knowledge about settlement business, I'll buy that
  2. what type of debt do you have? If its private, settlement maybe the only option to stop garnishment.
  3. Contact citi and request a copy of the promissory note. Do you get statements in the mail or email? Sometimes they would even provide break down right on the statement. Worse case scenario, request the copy of the original contract, it may take a bit time to get the the actual paper copy, but at least you'd know for sure. Don't bother asking the reps on the phone, most of the time they don't know much beyond the script.
  4. I wouldn't stress over it, 1 out of 20 people with outstanding balances of less than 10k were sued, at least in my debt settlement practice. Your debt has been sold a long time ago, the law firm that had contacted you is probably the current owner of the debt. The letter you had received sound like a pure threat to scare you into paying. If this particular law firm is not the owner of your debt, instead acting on someones behalf, which is probably highly unlikely, the chanced of getting sued are slim to none. However, if in the opposite scenario where the law firm owns your debt, they will most likely sue you. With all honesty, I would recommend simply settling it with them. You can make an offer over the phone, keep in mind when offer is accepted, request it in writing. They should have no problem faxing it or emailing it to you. Don't pay before you have the agreement in your possession. Once you go through with the transaction, you can request a settlement confirmation letter. Realistically, you can offer them no more than 300 dollars. Collectors would usually accept 30-50 cents on the dollar.
  5. What you can do is contact Alaska Commission on Postsecondary Education by calling (toll free 800-441-2962)
  6. She is probably too busy settling government backed student loans
  7. If these are private loans, you can totally settle it for much less than the original amount borrowed. This could be accomplished by contacting debt settlement services or you can even do it yourself by contacting the lender directly. Realistically, a debt settlement agent would surely be able to get better final results. Nonetheless, when it comes to dealing with large loans, it would be in your best benefit not to cut corners by attempting to do it yourself. By the way, I do apologize for our psychotic fellow members. It appears that she gets a cookie for every negative reply.
  8. You're wrong, we don't consider waiving late and collecting fees a settlement! Dept of ed would only agree to have collection and late fees waived and maybe 10% of the original amount borrowed. Do you even know what a settlement is?
  9. Today you can take our a Private student loan pretty much as quick as taking a walk to the grocery. Not only that its relatively easy to get private educational funds, the most financially devastating thing is that the lenders are willing to mail the check directly to the borrowers! At this point a happy borrower can go out and buy a nice luxury car. The bubble is yet to explode, and its going to be much nastier than sub prime mortgage explosion of 2008.
  10. These guys would use every resource at their disposal in order to attempt to collect. After all its their bread and butter
  11. Private Student loans loans usually carry higher variable interest rates. Many rules and regulations that may apply to government backed or secured loans have little or no effect on private loans. Thus, private loans cannot be rehabilitated once fallen into default, unlike secured loans can be. The benefits of the rehabilitation program waives the collection and late fees upon successful completion. Private lenders does not provide this type of luxury. Finally, if a consumer is going through a financial difficulty, private loans can be potentially settled for lesser than what was initially borrowed. Government loans are guaranteed, therefore settling these loans would not be possible.
  12. I would suggest considering debt settlement. Since your score is already damaged, and from this point onward it will only go down the hill, debt settlement is the quickest and the most conservative way out. By settling your ccs, you're looking to save on average 50-70%