Student Loans
- Thread starter King
- Start date
Honestly tell them to go screw themselves.
You don't have any money so if they are going to take you to court there is nothing you can do about it and if it is already in collections you credit is already screwed, no sense worrying about it until you can fix it.
They used to call me threatening all sorts of things. They told me they were going to repo my Jeep (which is leased) I asked them how they could do that becasue technically it was not mine for them to take. They told me all they had to do was call my leasing company and tell them that I was not fulfilling my obligations of repyment on my student loans and the leasing company would repo it for them! Well needless to say I was scared shitless, I called my leasing manager and he told me as long as I am making my payments every month they would tell the student loands people to go f*ck themselves.
They even went as far as to threaten to foreclose on my business, that I had to laugh at! LOL
I just said "what are you going to come take? Me?"
They know damn well thatyou do not have a job and they cannot take anything from you, it is not worth it to them to come and take any household assets (furniture, computers, etc.) because they won't get anything for them, so they are going to resort to scare tactics, they don't care where you get the money from they just want it.
They told me to take out loans from banks, whatever I could do to pay it back. Which was pretty funny because you would think if I had the money or the credit to get a lona I would have been paying them all along!
Some of these collections people aren't to bright either!
You don't have any money so if they are going to take you to court there is nothing you can do about it and if it is already in collections you credit is already screwed, no sense worrying about it until you can fix it.
They used to call me threatening all sorts of things. They told me they were going to repo my Jeep (which is leased) I asked them how they could do that becasue technically it was not mine for them to take. They told me all they had to do was call my leasing company and tell them that I was not fulfilling my obligations of repyment on my student loans and the leasing company would repo it for them! Well needless to say I was scared shitless, I called my leasing manager and he told me as long as I am making my payments every month they would tell the student loands people to go f*ck themselves.
They even went as far as to threaten to foreclose on my business, that I had to laugh at! LOL
I just said "what are you going to come take? Me?"
They know damn well thatyou do not have a job and they cannot take anything from you, it is not worth it to them to come and take any household assets (furniture, computers, etc.) because they won't get anything for them, so they are going to resort to scare tactics, they don't care where you get the money from they just want it.
They told me to take out loans from banks, whatever I could do to pay it back. Which was pretty funny because you would think if I had the money or the credit to get a lona I would have been paying them all along!
Some of these collections people aren't to bright either!
Hey King, just be glad it's not the 407-ETR people after you.
They make Saddam Hussein's secret police look like Amnesty International.
They make Saddam Hussein's secret police look like Amnesty International.
stand your ground dude.
a collections agent once got very threatening and abusive to me in the 90s...
[you see, its rude to threaten use of physical violence and homelessness when attempting to convince someone of the wisdom of using your rent money to pay a bill... its called extortion]
thats when I pressed RECORD on the tape device, and had the silly twit arrested along with his supervisor and criminally charged when I played the tape to my friendly neighborhood detachment...
they never bothered me ever again.
its as simple as that.
threatening people merely makes them want to fight and resist HARDER and more intensely.
the 90s, was certainly a crucible of inner strength, it demonstrated that which fails to destroy someone, serves to make them stronger.
a collections agent once got very threatening and abusive to me in the 90s...
[you see, its rude to threaten use of physical violence and homelessness when attempting to convince someone of the wisdom of using your rent money to pay a bill... its called extortion]
thats when I pressed RECORD on the tape device, and had the silly twit arrested along with his supervisor and criminally charged when I played the tape to my friendly neighborhood detachment...
they never bothered me ever again.
its as simple as that.
threatening people merely makes them want to fight and resist HARDER and more intensely.
the 90s, was certainly a crucible of inner strength, it demonstrated that which fails to destroy someone, serves to make them stronger.
Because it was becoming a huge habit for alot of people. Once word got around the declaring bankruptcy basicly "took care" of your Student Loans, every 23 yr old just out of school was doing it. At that age, what is 7 years of bad credit? I beleive at one point in the mid 90's, 1 out of every 4 student loans was in default.TravellingGuy said:
Thanks for all the responses. I certainly know more about my rights and about what they can do, which seems to be nothing they haven't already done.
As far as ignoring them, I didn't. I did talk to them on several occasions and still do. I told them my situation and that I would pay them when I could. They are telling me I have no options but to pay them in full or else! They also keep telling me to take out loans like they did to Sasha, and also to borrow money from my parents or to get my parents to take out loans.
I guess now I just wait until I get a job.
Thanks again,
King
As far as ignoring them, I didn't. I did talk to them on several occasions and still do. I told them my situation and that I would pay them when I could. They are telling me I have no options but to pay them in full or else! They also keep telling me to take out loans like they did to Sasha, and also to borrow money from my parents or to get my parents to take out loans.
I guess now I just wait until I get a job.
Thanks again,
King
Collector Here!!!!!
KING: I have to say first that some advice that you have gotten is correct, the other is B.S. No offence to anyone on the board...
However I am in the business of Collections. Therefore I have been through several and I cannot stress that enough, training classes and exams, as well as being licenced.
IN CANADA-This by any means is not even close to what the States has with the F.D.C.P.A The laws are very lenient in Canada.
Provincial Legislation States through the Collection Agencies Act, no collection agency or agent may:
c) directly or indirectly threaten or state an intention to proceed with any action for which the collection agency or the collector does not have lawful authority to make telephone calls or personal calls of such nature or with such frequency as to constitute harrassment of the consumer, his spouse or any family or household;
First, THEY ARE DOING THERE JOB!!!!!! But if the above is correct then contact, through written letter the Collection Agency stating your complaint.
But you also have to remember, that to them you have had several opportunities to try to make ammends for your debt. How many calls do you think one agent makes in a day?? Anywhere between 150-250 calls per day, and alot of those people that they are calling, change there story, lie and decieve. Act like they are surprised that they are in collections. But know that they are because they have received letters...And or were contacted by an in house collections department, prior to them making phone calls to you.
Second, if you are in a Third party collection, which I believe you are that is a state called "DEMAND DEBT" All that means is that you have been given, several opportunities, through letters/calls to make some sort of arrangement with the loan institution, and you chose not to.
Also; do not take this thie wrong way; but how are you surviving??? How are you paying your intenet bill?? You obviously have some sort of income, or live with someone, but to say that you have no money/income at all is the reason you are being asked these questions. I am not at all saying give up these things. But as someone stated before about the Financial Assesment form, I have never heard of them sending it to you and filling it out, Agents ask the questions over the phone. Some agents take things personally, like you owe them the money, try to be as cooperative as possible...If they start asking you questions about your income, or car payments or what not, they are only doing this to show thier client WHY YOU CAN"T PAY...That is the whole reason for the FAF
Unfortunately, to think that your credit is screwed already so who gives a shit. You can clear that. All they want is something in good faith. If you are never paying a dime, even though you pay pay a minimum, lets just say you have $30 and you think that they won't take it or you think it's a hassle IT"S NOT believe me. Maybe you cannot pay that every month but, you are showing that you are willing to pay.
Also you need to get a job, THEY WILL NOT GARNISH YOUR WAGES, the court costs are too much of a hassle. If they ever proceed to do that it will take months.
My suggestion to you is that the collector has probably left you a number to call them. If they have, call back that number, if you do not like the tone of the collector. Then either hang up/ or ask to speak to another collector and or supervisor. There are three types of collectors, 1.)CUSTOMER SERVICE, 2.)TENACIOUS 3.) MIDDLEMAN
Stay away from the last two, you will be able to tell right off the bat which you are dealing with. Try not to get discouraged about this but it is something that could affect your life.
Always remember to try to be as honest as possible, if you have a car, and you are making payments they will see that on your credit beareau...So NO they cannot see what youhave physically, but they do know if you car payments/ credit cards and so on. So be careful as they like to throw that back in people's faces.
Just explain to them that you are not working that you have every intention of paying, you will see what you can do to make some sort of payment. If you feel annoyed or threatened in anyway HANG UP....Tell them that you don't appreciate there tone. Unfortunately I think all the collectors may have never been in debt because they look at this like all the people are the lowest scum of the earth...That is what I meant by trying to speak to a Customer Service type, because I can guarantee that they know or have known what you are going through so they are nicer...
Hope this helps....Take Care and keep smiling
Nyyla
KING: I have to say first that some advice that you have gotten is correct, the other is B.S. No offence to anyone on the board...
However I am in the business of Collections. Therefore I have been through several and I cannot stress that enough, training classes and exams, as well as being licenced.
IN CANADA-This by any means is not even close to what the States has with the F.D.C.P.A The laws are very lenient in Canada.
Provincial Legislation States through the Collection Agencies Act, no collection agency or agent may:
c) directly or indirectly threaten or state an intention to proceed with any action for which the collection agency or the collector does not have lawful authority to make telephone calls or personal calls of such nature or with such frequency as to constitute harrassment of the consumer, his spouse or any family or household;
First, THEY ARE DOING THERE JOB!!!!!! But if the above is correct then contact, through written letter the Collection Agency stating your complaint.
But you also have to remember, that to them you have had several opportunities to try to make ammends for your debt. How many calls do you think one agent makes in a day?? Anywhere between 150-250 calls per day, and alot of those people that they are calling, change there story, lie and decieve. Act like they are surprised that they are in collections. But know that they are because they have received letters...And or were contacted by an in house collections department, prior to them making phone calls to you.
Second, if you are in a Third party collection, which I believe you are that is a state called "DEMAND DEBT" All that means is that you have been given, several opportunities, through letters/calls to make some sort of arrangement with the loan institution, and you chose not to.
Also; do not take this thie wrong way; but how are you surviving??? How are you paying your intenet bill?? You obviously have some sort of income, or live with someone, but to say that you have no money/income at all is the reason you are being asked these questions. I am not at all saying give up these things. But as someone stated before about the Financial Assesment form, I have never heard of them sending it to you and filling it out, Agents ask the questions over the phone. Some agents take things personally, like you owe them the money, try to be as cooperative as possible...If they start asking you questions about your income, or car payments or what not, they are only doing this to show thier client WHY YOU CAN"T PAY...That is the whole reason for the FAF
Unfortunately, to think that your credit is screwed already so who gives a shit. You can clear that. All they want is something in good faith. If you are never paying a dime, even though you pay pay a minimum, lets just say you have $30 and you think that they won't take it or you think it's a hassle IT"S NOT believe me. Maybe you cannot pay that every month but, you are showing that you are willing to pay.
Also you need to get a job, THEY WILL NOT GARNISH YOUR WAGES, the court costs are too much of a hassle. If they ever proceed to do that it will take months.
My suggestion to you is that the collector has probably left you a number to call them. If they have, call back that number, if you do not like the tone of the collector. Then either hang up/ or ask to speak to another collector and or supervisor. There are three types of collectors, 1.)CUSTOMER SERVICE, 2.)TENACIOUS 3.) MIDDLEMAN
Stay away from the last two, you will be able to tell right off the bat which you are dealing with. Try not to get discouraged about this but it is something that could affect your life.
Always remember to try to be as honest as possible, if you have a car, and you are making payments they will see that on your credit beareau...So NO they cannot see what youhave physically, but they do know if you car payments/ credit cards and so on. So be careful as they like to throw that back in people's faces.
Just explain to them that you are not working that you have every intention of paying, you will see what you can do to make some sort of payment. If you feel annoyed or threatened in anyway HANG UP....Tell them that you don't appreciate there tone. Unfortunately I think all the collectors may have never been in debt because they look at this like all the people are the lowest scum of the earth...That is what I meant by trying to speak to a Customer Service type, because I can guarantee that they know or have known what you are going through so they are nicer...
Hope this helps....Take Care and keep smiling
Nyyla
Hi Nyyla.
Thanks for the info. As I said, I have talked to them on several occassions and continue to do so. It i always the same conversation though. Do you have the money. No. Ask your parents to lend you the money. They won't. Ask, and we'll call back in a day or two. Hang up.
So, now, I am looking for work, and when I find it, I will make payments. As far as what I am living on now, well that is nobody's business but my own, but I am getting some help from family. I live at home since graduating so my expenses are very minimal.
King
Thanks for the info. As I said, I have talked to them on several occassions and continue to do so. It i always the same conversation though. Do you have the money. No. Ask your parents to lend you the money. They won't. Ask, and we'll call back in a day or two. Hang up.
So, now, I am looking for work, and when I find it, I will make payments. As far as what I am living on now, well that is nobody's business but my own, but I am getting some help from family. I live at home since graduating so my expenses are very minimal.
King
bankruptcy is a cowards way out, it has no honour.
Be strong and dont ever allow economic issues to rob you of your dignity.
Dignity once lost, involves some effort to reclaim. Having a good social support network is always a good thing.
be happy that your family loves and supports you. [and means it]
Be strong and dont ever allow economic issues to rob you of your dignity.
Dignity once lost, involves some effort to reclaim. Having a good social support network is always a good thing.
be happy that your family loves and supports you. [and means it]
hmm
Well, it all depends on how your loan ended up with the agency.
If you told the bank you could not, or would not make any payments, they will send you to a collection agency.
The agencies job then is to bring your loan back to good standing, at which point the loan is returned to your bank.
If this is the case, you are not in such a bad place.
Call the agency, and let them know you wish to apply for Interest Relief.
This is a program offered by both the Federal and Provincial governments, whereby if you have little or no income, once you have proven your income to the government, they will pay your interest for a period of 6 months, during this 6 months, you will not be responsible for any payments to your loan.
You can have interest relief for a maximum 30 months.
Depending on how far behind your loans are there will be a payment required to qualify (your outstanding interest must be up to date)
Now, if your loan was too far behind, and the government has claimed either a portion of it, or the whole loan, then Interest Relief is not an option.
Once claimed the government will send your loan to a collection agency to collect the full balance.
If you have nothing to pay, then get used to hearing from the agency.
If your loan has gone beyond 1 year past due, the bank will have written it off, and sold the debt to a collection agency.
Again, the agency will seek full repayment of your loan.
As far as taking you to court, the agencies will do this, if they see you have any assets, or are working, and not offering them a monthly payment.
If you make an offer for a partial monthly payment, the agency will take this offer to the creditor (government, or bank) and if they choose to accept it, you are ok.
If not, you go to court.
As far as bankruptcy, you cannot declare bankruptcy on a student loan until 10 years have passed from the day you entred repayment.
Hope this info helps.
Well, it all depends on how your loan ended up with the agency.
If you told the bank you could not, or would not make any payments, they will send you to a collection agency.
The agencies job then is to bring your loan back to good standing, at which point the loan is returned to your bank.
If this is the case, you are not in such a bad place.
Call the agency, and let them know you wish to apply for Interest Relief.
This is a program offered by both the Federal and Provincial governments, whereby if you have little or no income, once you have proven your income to the government, they will pay your interest for a period of 6 months, during this 6 months, you will not be responsible for any payments to your loan.
You can have interest relief for a maximum 30 months.
Depending on how far behind your loans are there will be a payment required to qualify (your outstanding interest must be up to date)
Now, if your loan was too far behind, and the government has claimed either a portion of it, or the whole loan, then Interest Relief is not an option.
Once claimed the government will send your loan to a collection agency to collect the full balance.
If you have nothing to pay, then get used to hearing from the agency.
If your loan has gone beyond 1 year past due, the bank will have written it off, and sold the debt to a collection agency.
Again, the agency will seek full repayment of your loan.
As far as taking you to court, the agencies will do this, if they see you have any assets, or are working, and not offering them a monthly payment.
If you make an offer for a partial monthly payment, the agency will take this offer to the creditor (government, or bank) and if they choose to accept it, you are ok.
If not, you go to court.
As far as bankruptcy, you cannot declare bankruptcy on a student loan until 10 years have passed from the day you entred repayment.
Hope this info helps.
