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long post but I need info if you guys have it


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you guys know the problems I have had with the not federally funded student loans from Wells Fargo, well I found this response in the Student loans section, and I have not seen this guy on the board recently, so if you guys know anything like what he posted please let me know

I would like a reference that I get get from a website, a law, or something from a law site anything substancial I can use for AMAN CA or Wells Fargo Bank

here is the reply he posted:

There is one advantage to these loans - they are covered by the applicable state's statute of limitations whereas federal loans are not. Collection then, is just like any other private debt, no matter the purpose of the loan. Just like a credit card. Your repayment/rehab/credit report strategy then, should be just like any other defaulted debt.

I defaulted on one of these and got sued by a collection agency lawyer representing the guarantor of the original note. Luckily for me, I have an attorney friend who owed me a favor. We answered the suit and the guy agreed to settle for 25% on the dollar with 100% free and clear CR language.

The other type of private loan, as you mention, is guaranteed by the federal government. These jerks have it easy because they don't have to respect the SOL. They won't negotiate and they don't have to.

I am really beginning to believe him b/c yesterday my soon to be exhusband got his EQ CR and the loans are listed as installment auto loans (same account numbers as student loans) we have never had an auto loan with Wells Fargo only the student loans

so even though the loans were private student loans, if they can be treated like any other installment loan regardless of purpose, and they will either totally remover the TL from report or report my TL as totally positive I want to settle for the least amount possible


these accounts are really starting to get on my nerves and I want to deal with them as quickly and efficiently and in my own best interest as much as possible



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