student loan zapped

[charlesa6]

Originally Posted by milites

Hi
Before I attempt to use the VOD/CPN letter with my student loans, must I file a properly filled out UCC-1 financing statement?

Milites, welcome to the forum! Check the member download section for more info.

[macerico]

Well, let me share a tidbit of info.

I've been wondering how to make student loans go away when it's illegal to lend credit in the first place.

Well, one group that promotes that they can help had the same "Yes, we can" spirit until they hear about student loans and then you hear that silent "but" in their voice.

Well, I honestly asked them what was it about student loans to make them different/harder to help with.

After some back and forth to find someone who could take a stand and boil it down to something to-the-point, I finally got an answer....

Student loans are no different from any other unsecured debt of credit, but they DO get preferred treatment. So, it's not that you can't make them go away, but the original lenders really have something going in their favor if they want to fight.

So, what option is there that changes everything? The key is WHO holds your student loans NOW. If it's still the original lender, odds are it would be difficult to dispose of them. If you've DEFAULTED and it's been sold to a debt collector, you can easily get rid of them like any other credit card debt. If you're making payments and A BANK has bought your loan, then you can get the same results.

The key is that the original lender has to be out of the loop. Otherwise, there is a long administrative process you have to go through before it can be nullified.

Knowing that, if you want to take on the student lenders, you'd better make what assets you have bulletproof BEFORE you take them on.

[gatorguy3]

Somewhere in my reading I found something that says just what you have. Student loans are not exempt from dissolving or similar. The thing is courts are hesitant in adding them to a bankruptcy because they are government backed.

[mrg]

I have just joined the forum, and am interested in information concerning discharge of student loans.

The loan became due in 1992.

It went to default.

It is now with:

U.S. Department of Education
William D. Ford Federal Direct Loan Program.

It is very large, mostly due to the usury.

I will never be able to repay it, and since they did catch up with me, and get me into consolidation with them in 1997, I have had it in forbearance, and deferment.

These options, I think, are done, and they will want $$ starting 3/14/06.

They will want a minimum payment that is way more than I can afford.

First, is there info elsewhere on site I need to look at b4 I ask for others' help?

Second, can they be staved off further until I figure out how to best approach a resolution?

Third, does anyone know if once the Dept. of Ed. has it, will they seek to garnish right away if I do not start paying, or will they sell it to debt collectors, or what?

Fourth, can I get the Dept of Ed. or anyone else to help me locate the original sources from which the actual "credit" evolved, and the promissory notes, and the banks from which the disbursements issued--or does anyone know how one goes about this?

I am only just beginning to fully waken. I am a more than decent student and researcher, enjoy it, and strongly feel a moral responsibility to learn who we are and where we live (still in Babylon, as far as I can figure), and what options for meaningful progress are available.

I joined the forum after reading through the whole UCC archives, which was a very bumpy, albeit, interesting and informative ride.

I have completed my UCC filings as per Barton Buhtz.

Not too sure about UCC strategies, (or sovereignty, or common law, etc.) but I am all filed there (UCC), and I have studied upon it quite a bit--enough to know it can bite if one does not know exactly what one is doing, and that in principle it seems tactically sound.

I am quite certain that I am a born free sovereign flesh and blood human being standing firmly in the Kingdom of our Creator, and have my home on the free soil of the Republic of Illinois, whose state Seal proclaims: "State Sovereignty, National Union.

I am not fearless however, and perform certain adhesion contracts under threat of the law of the Gun. (L'Homme Arme, in musical history terms.)

I have CC debt and am practicing on debt collectors with FDCPA Cease and Desist Notice Prior to Validation of Debt, Cc'd to Illinois Attorney General, and Auditor General, which causes the 3rd party collectors to close and return the file they bought to the original "creditor" who sells it to another third party interloper,ad infinitum apparently.

I had an ex parte (hocus pocus, presto chango,the hand is quicker than the eye) garnishment of a $3500 CC debt prior to having any knowledge about debt, credit, money etc., and am in process of learning all I can about law, the legal system, various renditions of history, taxes, the infernal revenooers and flatland furriners and etc.

I have met the enemy and he is us (or US, or both, or one of the other depending on which side of the road you are standing.)

This garnishment (and my proclivity for informing students of some of the seemier aspects of gummint schools, and what a crock they are being fed, and how, and why what they actually experience on the urban streets, and "learn" and get "tested" and "graded" on in "school" seem to be very different--talk about cognitive dissonance!) seems to have gotten me fired and blackballed from a career with the Chicago Public Schools.

(The utter corruption of the Municipality of Chicago, and the Corporation of Cook County Illinois seems to be pretty much of a treasured "National Heritage" I seem to be discovering.)

The person who has helped me w/ my UCC filings (through Barton), has been a good source of learning, as has Barton's information, and I have gotten to know a few others in the varying and diverse lines of inquiry, and issues that this forum seems to address, and, I study and research on the internet a great deal.

(BTW, I have never been asked to "pay" for anything for help with filings and all help has been totally free of charge.)

I have gone to court experimentally once (using law, not UCC), concerning the perjured affidavit of service concerning the garnishment, and was bulldozed by the Robed One and his Esquire, (the judge practiced law from the bench and the pimp and whoremonger voire dired right in front of me, the judge said he was going to deny my motion to quash, due to lack of competent legal counsel--I was pro se--regardless of the clear stare decisis which he referred to with contempt, and I could appeal if I did not like it etc.). This did not really cost me anything and was very educational, as well as good practice.

I know I will be researching this forum very thoroughly for this and other good info that I feel is here, but thought that I might introduce myself and ask a tentative question or four.

Anyway, I am posting here because the student loan is my only really huge debt, and this thread has to do with a student loan victory--congrats on that.

Thanks,

Mike G.

[charlesa6]

Mrg, Welcome to the forum!

[macerico]

Like you, my only real big debt is with the Student Loan scam that was pulled on me. It's so big that I'll never be able to repay it. I was depending on the "great paying job" I would get with my education...only to learn that my education closed doors, it didn't open them.

Someone on this site likely will contact you about ways to resolve this matter. I can tell you that you're going to try and do all this WITHOUT going to court. The very short story is that all unsecured debt is very illegal and done outside of the authorization of the corporate charter of lenders. This make their buying and selling of credit debt (as well as granting credit) ULTRA VIRES (hope I spelled it right) and an act of fraud.

One person already contated me. Yes, you pay $1,300 for an education program and then for what services you want. I was hesitant at first, but to be fair, can you ask anyone to help you beyond a handful of aid without compensating them for their time and trouble? It sounds legitimate. I pushed on the whole student loan issue because (1) I'd not pay for something that ultimately cannot help me, and (2) if they weren't willing to give me a sample of what they could do and answer some questions before money was put down, they likely weren't legit. Heck, most lawyers will give you free advice to help you decide if you should hire them or not.

I think the program that contacted me seems real and legit. I'll PM the contact who got hold of me, but you have to decide if it's for you. I'd like to do it, but the priority for me is to isolate what few assets I have and obscure my identity so the theives at the IRS are impotent to do the creditor's bidding. Then, I'll see about making a move.

Likewise, you may not have any assets to protect, but at the very least, UNDERPAY your taxes by claiming all the deducitons on your W-4 (assuming you're still in that system) so if they want to garnish your tax refund, there's no tax refund to garnish. Just set enough aside so that April 15 doesn't catch you short. Try to NOT keep any money in a bank you don't need to cash your next paycheck. Just in case they've gained garnishment powers over your bank accounts as well.

Good luck dealing with the matter. You are not yet in default because you reaffirmed the debt in 1997, but once you default in 2006, the odds are they will sell the loan off to a collection agency.

Isolate what assets you have. Keep your savings OUT of any bank (just in case). Here is what you do to deal with the debt when it comes due:

1. Tell them honestly that you cannot pay it because you can't afford the payments. You need to exhaust all administrative remedies first. If they can extend your forbearance/deferments, they have not exhausted what they can do (buys you time to prepare too).

2. DO NOT reconsolidate the debt or change the payment plan to Income Contingent. The Income Contingent plan is handy for people who can't afford their debt, but it's like an indefinite leaching. They can require 20% of your disposible income and it never exhausts the administrative remedies.

3. DO NOT deal with them over the phone. Get a cheap P.O. Box (better yet, go to a bookstore and buy How To Be Invisible to see how to obscure your identity and place of residence) and use that as a mailing address for all correspondence. Do everything IN WRITING. Never discuss anything by telephone.

4. From this point forward, NEVER admit to it being a debt you owe. Always refer to it as "the balance on account xxxxxxx." You are disputing that it's even a debt you lawfully owe, but you don't want to come right out and say that because it will red flag your file.

5. I'd change your e-mail (or get a new account) just for them (not that they can require your e-mail address) or so that you can't be bugged by them that way in your normal e-mail. Change your phone number. If possible, MOVE without giving them your new residence address (again, get the book How To Be Invisible). You want them powerless to do anything BUT send you nastygrams in the mail.

Good luck in this matter. I'll say more in my PM.

Originally Posted by mrg

I have just joined the forum, and am interested in information concerning discharge of student loans.
....
Anyway, I am posting here because the student loan is my only really huge debt, and this thread has to do with a student loan victory--congrats on that.

Thanks,

Mike G.

[hartmanrd]

student loan in default over 10 years, collector had it but now back with the government, how do i make it go away

[jeagas68]

Originally Posted by logos

My former roommate recently informed me that he's discharged the remaining $2,200 on his old federal student loan that he's been deferring for years. He used the VOD/CPN combo from CTC3, sent via certified mail and executing an AOM like I showed him. He gave them 30 days to respond, and they did. Thinking the response he received would consist of a feeble attempt at validation, their letter basically read:

blah, blah, yada-yada
current payment = $0.00
balance = $0.00
We'll report this to the credit bureau
Thank you!

He got his credit report from TransUnion. All these years it stated the loan was "deferred" but now reads "paid-in-full".

No fancy gimmickry here. I don't know if he used the full nine-page version. He claims it was sent directly to the feds and not some 3rd party collector. Perhaps he lucked-out in that they didn't give him grief.

Great to see someone else did this too, I used a bond with processing instruction to take it to their guarantor for discharge and settlement and if they did not process it then they are would be held liable for securities fraud for not zeroing the account. One of the simplest ones I had ever did, logged in online 3 weeks later and it told me the same thing, account satisfied. Cr-Rep = paid in full. This was a back in '2003 though and I have not done one in the past couple years, but it seems my process got passed around a bit, cause not to long ago a man approached me with a bonding process and it was De-javu in that situation, it was my work.

[ntellect]

Does this VOD/CPN/AOM process work the same for both unsecured and secured "alleged" debt?

[acicalla]

The vod process should work for secured and unsecured debt. The fact is your asking them to produce the original note that was used in creating the credit your recieved. Most companies sell this note immediately and in order for them to have a right to collect the debt they must be the holder in due course of the note to perfect a secured interest in the note. So your VOD is asking them to verify the debt they claim by producing the original note. If they can not produce the note then they have no legal claim to the debt they are trying to collect. It's really that simple. As far as secured debt unless you know your stuff you will lose. If you know your stuff and are good in court then you could keep your assets. If it's movable property remember possession is 9/10's of the law in regards to cars if they get repoed before you've got the title from the company then you will probably lose your car. I would try this on student loans and credit card or debts that have already gone to a debt collector first and get familiar with the process on less risky stuff. Then proceed with the more difficult discharges.