A young woman who works in my office received an offer for student loan forgiveness. Here’s what happened.
First came the emails saying there were issues with her student loans and to please call.
After repeated emails, she decided to call in. The person identified themseves as from the student loan provider asked where she worked and how much did she owe on her student loans. They wanted to know, because it looked like she qualified for student loan forgiveness.
But wait, shouldn’t the student loan servicer already know how much she owed?
“That is private,” she replied, wisely suspicious.
The person quickly hung up on her.
Next, she called the Dept. of Education to see if it was legitimate.
“We never make calls like that. There are a lot of student loan frauds right now,” the real student loan advisor said.
Beware if you (or someone you know) has a student loan. Any emails or calls asking for information (innocent at first, then proceeding to more personal) are from liars and scam criminals.
There are genuine student loan forgiveness programs, but they are included in the written contract of your original student loan. It tells you what the requirements are. There are no new forgiveness programs due to Covid-19 or anything else you don’t already know about.
As always, I’m watching out for your best financial interests. Thank you for reading and passing along to others who can benefit.
Carolyn Warren
Hi Carolyn,
I truly appreciate you writing this book it was referred to me by a Friend.
I trying to build my confidence to write these letters because I have written dispute several letters before I read your book and they are were kicked back with no good results.
First is the late fees… should I try to call them first or send the letter?
I have a question about a repo but I will wait until I tackle this issue.
Thank you so much in advance.
Wendy, I am so happy you discovered Repair Your Credit Like the Pros, because the methods in the book have worked for so many book readers, and they can work for you, too. I don’t know what letters you sent in the past, so I can’t comment on them. I have not seen your credit report, so I don’t know if the late fees were on a mortgage, auto loan, student loan, or credit card. I also don’t know if the account is open or now closed with a $0 balance. I don’t know the age of the account. I don’t know the circumstances. Without any knowledge, it is not possible for me to advise what to do; but I can tell you that all the steps are clearly written out in the book. Chapter 15 includes actual conversations I had with creditors in the past that worked. All the letters are also included and the templates also have actual examples that worked. I encourage you to read through all the chapters, because vital information is throughout the book. Happy reading and best wishes to you!
The credit cards are current cards that are in great standing now but in order to get approved for a mortgage they are looking at those late payments. I spoke to them today and they said I’m in great standing with them and I need to write a letter to the credit agencies to have the lates removed. They are willing to provide a letter to the credit agencies if needed. I was late February and March of this year.
Another question- I have repossession on my credit that I purchased 30 days after my bankruptcy. On one credit report it’s included in the bankruptcy and the other two it’s a charge off. Of course the better would be the bankruptcy so it doesn’t look like a open account. Can you give some advice on this situation.
Appreciate you. Have a blessed day!