[appleszzz]

I just recieved a letter from XXX Credit Agency on behalf of some Government Student loan thats more than 15 years ago that I dont even recall i actually had or not.

In the letter it said i owe them more than $10,000. I dont recall i ever take out any loan.

This is like the 3nd time they sent out an letter to me now during the past 3month. they even called my work place but i just told them i not here and hung up.

what is the First step i need to do about this matter??? because i really dont recall i have borrowed any money. plus i went to college in the early 90's.

[jlynn]

Gov't student loans have no statute of limitations - they will haunt you until you die. Further, they do not need a court order to garnish your wages; and finally they can grab your income tax refund.

Before anyone wonders how you can't remember a $10K loan, fees and interest can really add the thing up - the original loan could conceivably have been for 1/2 or less.

You need to meet this head on! Do not ignore it. It is entirely possible that they have the wrong person, especially if your name is common. Send XXX Credit Agency a letter, disputing that you have the loan, and ask them for proof.

[centex]

You really need to figure out what is going on. Federal student loans have no SOL, and if this one is yours, you can find yourself the subject of administrative wage garnishment not to mention the seizure of tax refunds. A judgment in court is not required for the garnishment to occur on a student loan.

[centex]

ETA...I would say great minds think alike, but given who posted at the same time...

[jlynn]

GMTA

ETA - Well now we know which one of us is the nice one.

[jlynn]

OK Stop This!

[appleszzz]

In the letter the amount i owe them now is like around $15,000 and said i borrowed like $9000. But the city college i went to only cost $1200 per year in the early 90's. How to i dispute this?? any samples?? and when should i mail out the dispute letter?? as soon as poissble or just with 30days would be fine??

[centex]

The fact that semester costs may only have been $1200 does not mean that more was not obtained in loans...when I was finishing my undergrad work, I was entitled to something like $5500 per year even though I was only spending half that on tuition and books. Schools, particularly in the 80's and early 90's, were always more than willing to encourage students to take the max available to them...after all, you never knew what unexpected expenses might pop up after the start of the semester (or who was going to finance the party).

[hannah]

You need to contact the college you attended and ask them if you had a loan. They should be able to tell you. That said, I do remember a news story years ago about a group of fake students who stole id's and got student loans through colleges they never intended to go to. They borrowed the max amount they could and then got the disbursement checks back from the colleges. There were several hundred fake students doing this all over the country. It changed the way the colleges disburse overpayments back as now they wait for the professors to verify who shows up for classes and who doesn't. If a student is not in good standing in the class, no disbursement.

Here's a link to one of the stories.

[jlynn]

Originally Posted by appleszzz

In the letter the amount i owe them now is like around $15,000 and said i borrowed like $9000. But the city college i went to only cost $1200 per year in the early 90's. How to i dispute this?? any samples?? and when should i mail out the dispute letter?? as soon as poissble or just with 30days would be fine??

Hannah has a good idea, to start with the college. But, IMHO, it doesn't hurt to go ahead and send out the dispute letter now. The sooner the better. This is old, it will take some digging at both the school and CA level to come up with proof.

A simple letter is enough:

Dear XXX Collection Agency,

I am in receipt of your letter dated _____. I do not recall having a loan in this amount, and am requesting you send proof that I this debt is mine, and that I owe what you allege.

Sincerely,
Applez

[direred]

You can also double-check with the US Dept. of Education because they have records on everything.

Also, you can ask to rehab your loan, which I would recommend once you get it all sorted out.

[appleszzz]

Originally Posted by direred

You can also double-check with the US Dept. of Education because they have records on everything.

Also, you can ask to rehab your loan, which I would recommend once you get it all sorted out.

what is rehab do or mean??

[direred]

Loan Rehabilitation

[appleszzz]

Originally Posted by jlynn

Hannah has a good idea, to start with the college. But, IMHO, it doesn't hurt to go ahead and send out the dispute letter now. The sooner the better. This is old, it will take some digging at both the school and CA level to come up with proof.

A simple letter is enough:

Dear XXX Collection Agency,

I am in receipt of your letter dated _____. I do not recall having a loan in this amount, and am requesting you send proof that I this debt is mine, and that I owe what you allege.

Sincerely,
Applez

Can i send the letter out by regular mail or it has to be Return Recipt Mail?

[direred]

Always CMRRR (certified mail return receipt requested) -- if for no other reason than you have proof it was sent and received.

[appleszzz]

Originally Posted by direred

Always CMRRR (certified mail return receipt requested) -- if for no other reason than you have proof it was sent and received.

I sent a CMRRR and got the green receipt back on 5/16/2007 and i never recieved a reponds from the creditor. In the letter i request proof of the debt and also wrote is inconvenience for them to call me anytime or anywhere.
but 2 days ago on 6/19/2007 they call my work place again.

any advice to stop them?? they never send me any proof on the debt and now they are calling my work place.

[centex]

I do not encourage the limited cease and desist with student loans. If this was a federal loan, you absolutely need to be aware that they can garnish without having to take you to court. As such, it makes sense to talk to them even when you might otherwise have phone-a-phobia...

[cajunbulldog]

Originally Posted by centex

I do not encourage the limited cease and desist with student loans. If this was a federal loan, you absolutely need to be aware that they can garnish without having to t