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Has anyone ever used a firm called Default Management Services Inc. to consolidate defaulted student loan?
Wiki User
∙ 14y ago
im also looking at that firm but i cant seem to find anybody that has used it.....
Wiki User
∙ 14y ago
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Is there any recourse a cosigner has against the borrower of a defaulted loan?
No, there is no legal recourse that i know of, but I do know of a way to help yourself if the loans are Federally Guaranteed student loans. Have the borrower consolidate the loans without you being a cosigner. Then, the previous loans will be paid off, and a new loan will be made. If you need help getting the defaulted loans consolidated, contact Default Management Services. Google the company name for a phone #. Ask for Doug, he is very knowledgeable.
Can Sallie Mae garnish your new husband's wages or taxes on two student loans that you cosigned with your ex-husband - which are now in default?
I have 7 years experience in Defaulted student loans and can not definitively answer this question. My professional opinion is no, but I suggest you call the Dept. of Ed. at 1-800-4Fed-Aid. If they can't give you a definitive answer, then contact the Dept. of Ed. Ohmbudsman's office. If you want your name off of the defaulted student loans, have your ex-husband consolidate the defaulted loans in only his name. You will then be off the hook. It is tough to get defaulted student loans consolidated through a new federal lender these days. One company that I'm sure can help is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
If you defaulted in a private student loan how long will it take to garnish wages?
All collection agencies are different, there is no set guideline.If you need help getting out of default, or getting a garnishment lifted, then contact Default Management Services, Inc. for help. You can Google the name for a phone #. Ask for Doug, he is knowledgeable.
Receiving student loan when being in Default?
In the US, you can only get a new student loan if you rehabilitate or consolidate the defaulted loans. To rehabilitate, you need to make 9-12 on time payments to your current lender. If you need help with the consolidation of your defaulted student loans, click on the link below
Who buys defaulted student loans and garnishes wages?
There are about ten Federally approved collection agencies that are awarded contracts to collect on defaulted student loans. The list is on the Dept. of Ed. website.There are only 2 ways to get out of default on your Federally Guaranteed student loans.Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
Can I Consolidate While I Am In Default?
Yes you can. Loans in arrears/default can be consolidated under two conditions: 1. You accept to pay back the borrowed funds under an income-driven repayment plan. 2. You make payment plans with the current loan servicing company. You can't consolidate a past due or defaulted loan if: 1. A judgment has been issued against your past due/defaulted loan. 2. Your consolidation doesn't include a minimum of one additional qualified loan.
How can i get back into college if I've defaulted on my student loans and the balances are on my credit report?
There are only 2 ways to get out of default on your Federally Guaranteed student loans.Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
Can you make pay arrangements for your outstanding defaulted student loans?
There are only 2 ways to get out of default on your Federally Guaranteed student loans.Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
Wage garnishment in California?
Student loan garnishment is used by collection companies for defaulted borrowers in every state of the U.S.There are only 2 ways to get out of default on your Federally Guaranteed student loans.Contact your collection company or student loan servicer and request to enter the rehabilitation program. Most people qualify, but I have seen some refused when the default is over 10 years old. In the rehabilitation program, you will need to make 9-12 on-time payments in addition to your garnishment. After the 9-12 on-time payments, they should stop the garnishment, but you will stay in a default status until your Rehabed loans are sold to a new lender. In the past, that was an easy process, but in these turbulent financial times, other lenders are not buying rehabed loans. So, with this option your loans will stay in a Default status for the forseeable future.The second way you can get out of default and have your garnishment lifted is to consolidate your loans. These days very few Federal lenders will consolidate defaulted loans and your lender will probably not release the loan for consolidation while in a garnishment stage. The good news is, there are a few companies out there that will help you get a garnishment lifted and find a Federal lender to consolidate the loans. One good example is Default Management Services, Inc. They are the cheapest I have seen and give a 100% money back guarantee on their services. You can Google the company name to get the phone #. Ask for Doug.
Can a student loan garnish you while you are already being garnished?
No, you will not be eligible.If you need help getting out of default, or getting a garnishment lifted, then contact Default Management Services, Inc. for help. You can Google the name for a phone #. Ask for Doug, he is knowledgeable.
What is the past tense of default?
The past tense is defaulted.
Can you get a student loan default off credit?
Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com Any default is going to stick around for about 7 years.
