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Sallie
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Subject: CA claiming to have a student loan I already paid off
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Thu Jun 18, 2009 10:22 am
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I have read through the Forum. You people have useful information out here. But my problem is different from others. I am not in debt and don't have any default accounts. I had few student loans from a creditor and I have paid them by debt consolidation. My creditor has also listed individual loans as paid off. But now I have 1 loan which I thought was included in the consolidation program, and a collection agency is calling me to pay off the loan. Now my question is I had about 8 student loans owned by original creditor, so is there any chance that he sold off 1 loan to a collection agency? Sounds ridiculous to me. They also say they can garnish my wages to pay off the loan. Is it true?
Thanks in advance for any help  |
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scott
Joined: 28 Jun 2006
scott's page
Posts: 462
10934 Magic Points
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Thu Jun 18, 2009 10:46 am
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Hi Sallie,
Do you have the loan account (for the one you received a collection call) listed on your credit report as being delinquent? It is unlikely that your creditor charged-off one loan, while accepting payments (through a consolidation program) for the other ones. Is the student loan in question older than the other loans? May be your creditor had already sold off that particular loan, before you entered into the consolidation program.
Whatever the case maybe, you should send a "Debt Validation Letter" to the CA without delay. In reply to your "Debt Validation Letter" the CA will have to provide you with all records of the loan account (including the amount he claims is outstanding). This will prove whether the CA actually owns the debt account.
| Quote: | | They also say they can garnish my wages to pay off the loan. Is it true? |
The CA cannot garnish your wages without a court order. You will receive the court summons, if the CA brings judgment against you.
_________________
SCOTT
Use your credit account responsibly and enjoy a debt free life. |
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christi
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Subject: CA claiming to have a student loan I already paid off
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Thu Jun 18, 2009 10:52 am
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Hi Sallie,
Scott is right, but the easier way would be to contact your creditor. Your original creditor will be able to tell you whether he charged-off the student loan. |
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