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Debt Consolidation Forums Student Loans and Education Debt

Student Loan Consolidation vs Rehab Program



Not Sure

Sub: Student Loan Consolidation vs Rehab Program
Mon, 18/10/2010 19:35

I owe 29,000 for a student loan and have been talking with a DCS rep for the past couple days about a rehab plan. I also owe 7000 for a Sallie Mae loan that I just learned was in default. I have not been contacted by a CA for the Sallie Mae yet.

Im wondering in a situation like this is it better to consilidate the loans instead of enterinr rehab with DCS aand still having to deal with the Sallie Mae loan



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Sub: #1 Quote:Originally Posted by SOAPLADYIs the sallie mae loan also aMon, 10/18/2010 - 19:35



Quote:
Originally Posted by SOAPLADY
Is the sallie mae loan also a federal loan? If it is, you will have to rehab it seperately.



Thanks, it is a federal loan as well. I have been doing some research and am considering doing an IBC loans. I have not officially been given a payback amount from DCS but they did say based off the income information I gave (how do they verify income?) them they could garnish me for $300 a month. Either way, I dont think I will be ablel to pay the amount they argree on and I surely can not afford the $300 they will take. So I am thinking the IBC loan may be the best option for me.

Any thoughts or suggestions? I'm hoping to have a clear plan of what I need to do in the next couple days. One thing I have learned from reading your posts is I do not want to drag my feet on this (that is what got me in this situation!)


LYNNINMN@AOL.COM
SOAPLADY


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Sub: #2 Is the sallie mae loan also a federal loan? If it is, you will Mon, 10/18/2010 - 17:23



Is the sallie mae loan also a federal loan? If it is, you will have to rehab it seperately.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html


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