I've made payments

by selena
(Oakland CA )

I was informed of this debt a few years back. For a while I did nothing about it. About a year ago I made a few payments but then they told me my account was being transferred and to call back. This went on for a month or so and I again forgot about it.

I should mention, at the time I was making payments the collector said that my original debtor would allow a 60% pay off amount if I pay in full but never said they were a collection agency it sounded as though they were a agent for the college.

When I asked to have a statement because the amounts didn't seem right , the rep. now tells me there is no written paper they can give me only verbal information over the phone and asked how come I didn't keep my paperwork from the original loan? I won't pay until I get a statement but does the 30 day apply since I've made payments and have had previous conversations with them?

Reply from DebtCollectionAnswers.com:

Is this a student loan? If so, is it a federal or private student loan?

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Jan 16, 2012
by: Anonymous

Private student loan. Genesys Lending. I still have not heard anything from them since my request for a statement months ago..I'm not sure what to do next?

Reply from DebtCollectionAnswers.com:

We wish we knew what to tell you. Unfortunately, student loans come with the least amount of consumer protections when compared with other consumer credit products. However, just because you haven't heard from them doesn't mean that you won't. This debt won't just go away, unfortunately.

We suggest you do two things:

1. Check out StudentLoanBorrowerAssistance.org which has a lot of good information about student loan problems and

2. File a complaint against the lender with the Consumer Financial Protection Bureau, which is taking a look at student loan issues: ConsumerFinance.gov.

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