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student loans and collections from Sallie Mae

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Since Obama decided to institute the "Federal Loan Recovery" which made it possible for companies to complain to the department of treasury here in the U.S. any and all previous debts of student loans may be collected by the Department of Treasury... with or without a judgement or your consent...

Also the collection policy is retroactive (meaning no matter how far back) you've received federal assistance for a student loan or any company that provided that loan your still going to pay it back...

Once the collection process begins they garnish your wages, hold and keep your tax returns, they also monitor any extra dividends, payments, payouts or otherwise extra money you may receive at any given time....

They do NOT negotiate or haggle with you about anything...they will specifically inform you that
A. you owe the bill, and that
B. We the federal government are collecting the bill, and the icing on the cake that
C. Yes we can do this and there is nothing you can do about it because we are the federal government (if you knew how many agents have told me this in the past) lol .....

Also be aware that SML (Sallie Mae) or other creditors for student loans are notorious for getting (3rd party collection agencies) to try to collect additional (alledged) debt that you owe on top of the federal student loan you received.....

These additional costs incurred by attempted collections are NOT part of your federal loan nor subject to any type of collections through a court of law, garnishment or federal account holdings (tax returns).... do NOT believe them when they say these additional costs are also what you owe... you do NOT owe them

If any matters persist at least from those 3rd party collection agencies I would suggest filing a complaint with the Better Business as well as taking the time to consider getting an attorney for those 3rd party collection attempts....




SOAPLADY


Debt Samaritan
Posts: 17176
Credits: 474314.68869987

Sub: #1 Quote:Since Obama decided to institute the "Federal Loan Recover
Fri, 09/09/2011 - 17:17

Quote:
Since Obama decided to institute the "Federal Loan Recovery" which made it possible for companies to complain to the department of treasury here in the U.S. any and all previous debts of student loans may be collected by the Department of Treasury... with or without a judgement or your consent...
I collected for the Department of Ed and several guarantors from 1991-2000. Wage garnishment was standard practice as was tax offset....long before Obama...
Quote:


Also the collection policy is retroactive (meaning no matter how far back) you've received federal assistance for a student loan or any company that provided that loan your still going to pay it back...
Federal loans have never had an SOL....



Quote:
Also be aware that SML (Sallie Mae) or other creditors for student loans are notorious for getting (3rd party collection agencies) to try to collect additional (alledged) debt that you owe on top of the federal student loan you received.....
Wrong....Sallie Mae is a loan servicer. When a loan defaults, sallie mae files a claim with the guarantor. The guarantor outsources the loans with collections. Your alledged additional costs are federally mandated collection fees that you agreed to on your prom note...up to 24%

Quote:
These additional costs incurred by attempted collections are NOT part of your federal loan nor subject to any type of collections through a court of law, garnishment or federal account holdings (tax returns).... do NOT believe them when they say these additional costs are also what you owe... you do NOT owe them
Sorry you wrong again....you do owe them. You agreed to "all collection costs applicable by law" and "all court and legal costs" on your federal prom note.

I dont know what the point of your post is.....you are way off base with your student loan knowledge. Did you have a question you needed answered?




lizabethwolin
Posts: 12
Credits: 269.6

Sub: #2 I totally agree with Soap. Sallie Mae does no post default coll
Sat, 09/10/2011 - 08:10

I totally agree with Soap. Sallie Mae does no post default collections on federal loans. Once they file the default claim, they are done with the file.




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