Student Loans Company Contact

Saturday, June 26th, 2010 at 3:38 pm

Student Loans Company Contact

Can a Student Loan company do that?

I had a loan from a truck driving school using the GI Bill 18 years ago. I thought the military benefit paid it, but I was proven wrong when I just opened a letter for the schooling that was 4,000.00 is not 12,000.00. Can a student loan creditor contact me like that and only give me 2 weeks to pay? What can I do at this point. Im suppose to get my income tax in a few weeks are they going to take it? The IRS isnt showing record of any debts at this time.

As stated above: the key factor is whether this was a federally funded student loan or a Private Loan. If this is a Federal Loan, there's no statute of limitations on the debt. Because they're being so sleazy with tripling the amount owed, then you can play their game too. It's very unlikely that they'd have the original documentation for debt that's 18 years old. Make them validate the debt with the original documentation. Here's how I would respond: Send them a letter via Certified Mail + Return Receipt stating:

Per the Fair Debt Collection Practices Act, I cannot officially respond to your claim until validation has been made for the alleged debt. I am officially requesting validation of your claim in the form of a copy of the original application with my signature. I cannot respond to your claim until validation in this format has been presented. A typed letter showing an account number and balance due is not validation.

This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.
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If this is a private loan, tell them to get lost....the statute of limitations has expired:

Send the collection agency a letter via Certified Mail + Return Receipt (NOT regular mail) stating:

Per the Fair Debt Collection Practices Act, cease all communications with me about this alleged debt. This letter has been mailed via Certified Mail with Return Receipt. Receipt of this letter is being officially time stamped.