Rule #1 when dealing with school loan creditors

So here we are on the first post at School Loan News.  I’m proud to tell you that I’ve been both a victim and survivor  of school loans. I’ve dealt with them on for a long time and unfortunately have lots of battle scars to prove it.

This site is where I’ll post things that you need to know in order to keep more money in your pocket so that you can stay out of the bread lines and ( if you’re a chick ) off the brass pole. These tips are not things that I’ve read in a book but rather are things that I’ve done personally. I’m posting them here because I wanted an excuse to put a hot chick on my website. So there! Okay, moving on ..

Please take some of this with grain of salt as I’m not a writer . But rather a cube jockey that discovered our leggy mascot and decided to vote her to the top of the site. Though it’d probably be a good idea to take a poll or vote to see how well she’s liked  but right now the only vote that counts is MINE .

Okay so here is rule number UNO when dealing with school loan creditors. Ready ?

RULE #1

NEVER EVER TALK TO THEM OVER THE PHONE.

Why ? For a few reasons 1)  they are rude  2) typically the caller or calltaker doesn’t know what was said in previous conversations so it’s like starting from the beginning with each call (FRUSTRATING) and 3) NOTHING they say on the phone will be useful if you have to take them to court. And yes you may have to. Don’t be frightened by this thought. Behind that quasi anonymous PO Box that they hide behind is nothing more than human beings with family, emotions and bills … just like you.

So how do I interact w/ school loan creditors if I’m not allowed to talk to them over the phone  ?

Easy. You whip out your text editor and fire off a letter to their office. Writing a letter to their office, while saving a copy for yourself is the best way to DOCUMENT your interaction with that creditor.  By doing so, the creditor will more than likely respond in writing. This is good because now you have a record of what you’ve sent and more importantly you’ve got a written record of their response. Their letters will be useful in the future if they ever contradict something that they said in a PREVIOUS letter. Remember , nothing said over the phone may be useful or provable by you in court. Also, note that I’m not a lawyer … and I can’t give you freaking legal advise … But common sense says that if you have to  deal with creditors in court , make sure you’ve got the documentation on your side to prove your point.

So, grab a folder , mark it with the name of the creditor and place ALL mail that you SEND and RECEIVE from said creditor inside folder.

Lastly, place it in a safe, ah, place.

-Ron