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Am I Being Scam By Direct Loan Services LLC?

Started by oohlala_rosa, July 21, 2015, 12:28:11 pm

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oohlala_rosa

This morning I receive a call from Direct Loan Services LLC located in Florida, asked me a bunch of questions to have my loans forgiving after I've been "making $0 payment for the life of my Loans (up to 10-25 years)" I even give them my social security # along with my credit card info to charge me on the 31s of July and the next two months for $199 while they process my paper work before my payment plans become $0 every month because they said I qualify for the income base plan to have my loan forgiving under the new Obama loan forgiven program. But now I'm lost because somethings ain't adding up.. Please help and let me know what you have on Direct Loan Services LLC

TheCollegeInvestor

Well, as it sounds like they tried to explain, they are a paperwork processing company. Somehow you were on their list of people to call (the company buys your name and phone number from other companies), and based on what they think your income is, you might qualify for $0 payments under a plan called IBR.

The truth is, you don't have to pay this company anything to get that same payment. If you sign into your student loan account on StudentLoans.gov, you can sign up for IBR for free. The website will calculate what your payment will be based on your AGI from your taxes you filed. If it's low enough, it will be $0. Either way, your maximum payment will be 10% of your discretionary income.

Don't pay for a service you don't need.