Reply to Trump will rollback student loan forgiveness

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

Pay your bill and shut up, don’t expect yet another handout from the govt. [/quote]

DP. I took out a student loan with the original agreement that after 250 on time payments, it will be forgiven. This was the agreement. Sadly the government did not keep their side of the deal, until Biden.
[/quote]It sounds like a Breach of Contract with grounds for legal action unless the contract had small print saying, “The govt. is not obligated to honor the contract for…whatever reason. “

Her’s your chance to add yet another lawsuit against Teflon Trump. [/quote]

Again, the loan servicers did not track loan history when they bought and sold loans. Your loan history with the previous loan servicer did not carry over to the new loan servicers. So they could not track the number of payments and therefore the government could not forgive loans after 250 payments. Additionally, loan servicers did not put borrowers in the correct payback group often because they would not make as much money. There are HUGE problems with these loan servicing companies that have sprung up.[/quote]

This is not a problem as the borrower will have proof for each payment.  Stop paying after the agreed number of payments.  If any action is brought show the proofs of payment. [/quote]

Lordy, you show your ignorance. If you stop paying, the USG would report it to the credit bureaus. Your credit would tank. Because you still owe a balance. The services and USG need to proactively confirm your eligibility and discharge your balance

Further, you need 20-25 years of payment history. I’ve been with Citibank since 2000 and they only offer me the ability to look back at 5 years of transaction history. If you used a previous bank account where you’re no longer a customer, you’d have zero access to payment history.

Such a dumb comment. I hope no one actually listens to you. [/quote]

So it is now the bank’s fault that you did not keep a record of each payment.  If your credit it dinged send the three credit reporting companies proof of payment.    Why are you so worried about a credit rating?  Or are you borrowing for things you can’t afford like student loans?   [/quote]

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