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Posted in Student Loans
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Question By
letrav

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Student Loan rehabilitation help - so confused
Sorry for the long story but it may help someone out there understand my situation. In 1999 I took out two student loans from Sallie Mae for 5,500 and 4,600 to complete my bachelor's. After this I continued with a Master's and a Doctorate, paying out of my own pocket. At some point I heard that I could get my loan forgiven with a few stipulations (teaching in a Title 1 school, etc.) My wife at the time took care of this (or so I thought). Apparently she did not (I do realize that this is my own fault.) At any rate I lived life oblivious that these loans were out there. In May of this year, my wages began being garnished. After some calling I was put in touch with Pioneer Credit Recovery who enrolled me in the loan rehab program. I recently pulled my credit report to attempt to start rehabbing my score. I notice 2 items from USA funds. This is my rehab company (affiliated with Pioneer.) I called them today as I am nearing my completion date. This is where I need help. They sent me a loan application from Direct Loans. I assume they will consolidate my 2 loans into one and remove their reporting history from my report (USA Funds). At that point will I show one loan from Direct Loans and 2 defaulted loans from Sallie Mae? Someone from Direct Loans told me that the loan from them goes directly back to Sallie Mae and that they should mark it as open/never late. Is this correct. Does this date back to 1999? I'm thinking that I may contact Sallie Mae and the DOE ombudsman. Any advice would be wonderful.

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3 Contributions
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?

So what happened; Can you update?

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