05-06-2005, 09:19 PM
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Practice Makes Perfect
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Join Date: Oct 2004
Location: Connecticut Republic
Posts: 266
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student loan zapped
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.
Last edited by logos : 05-06-2005 at 09:41 PM.
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05-06-2005, 11:16 PM
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Mental Jujitsu
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Join Date: Oct 2004
Location: California
Posts: 591
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Quote:
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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.
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That's gret news, Logos!
Is there any chance you might be able to produce some sanitized copies of both the correspondence sent and received?
-BT
__________________
"A truth's initial commotion is directly proportional to how deeply the lie was believed. When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker, a raving lunatic." --Dresden James
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05-07-2005, 06:28 AM
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The Outta Commissiona
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Join Date: Oct 2004
Location: Florida Republic
Posts: 5,262
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Another victory by another one of Florida's finest - - - Logos.
Congrazzi
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Quit Walking Around Like a Half Breed Freeman Find Out How
DOWNLOAD THIS COURSE NOW !!
Quote:
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Originally Posted by Jerry Pitts
The whole system is based upon a 'presumption' that something was represented to have occurred which may or may not have occurred in the manner which has been represented.
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When the going gets weird, the weird turn pro - Hunter S. Thompson
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05-07-2005, 06:46 AM
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I'm still pretty new to this so i'm not sure what all the abbreviations stand for yet. I know that VOD is verification of debt, but what does CPN and AOM stand for?
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05-07-2005, 07:02 AM
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Unplugged
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Join Date: Feb 2005
Location: New York (upstate)
Posts: 73
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Abbreviations
Hey Anna,
It seems not too long ago I asked the very same question when I was new. Dont worry you will get it! I dont mean to do this to you, but I am gonna play the "teach a man to fish" role now because thats what the fine people of this site did for me. I am glad they did and so you will be too.
In the members only downloads section there are descriptions of what the abbreviations on this site mean. Check it out. You will be glad you did.
I do admit, there are way too many TLA's in this industry (TLA is a three letter acronym for THREE LETTER ACRONYM) 
happy searching
Campy
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"If medicine was supposed to taste good, I'd pour cough syrup on my pancakes" - Jimmy James
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05-07-2005, 08:05 AM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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Quote:
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Originally Posted by AnnaMaria
I'm still pretty new to this so i'm not sure what all the abbreviations stand for yet. I know that VOD is verification of debt, but what does CPN and AOM stand for?
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CPN- Certified promissory note, AOM- Affidavit of Mailing.I hope that answer your question Anna Maria.
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Resolution pending
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05-07-2005, 08:13 AM
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Unplugged
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Join Date: Feb 2005
Location: New York (upstate)
Posts: 73
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stealing my thunder
ouch :( :(
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"If medicine was supposed to taste good, I'd pour cough syrup on my pancakes" - Jimmy James
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05-07-2005, 09:47 AM
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Unplugged
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Join Date: May 2005
Location: Florida
Posts: 102
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This will be my first
I have a defaulted student loan from California.
I stopped filing tax returns 5 or 6 years ago because the student loan was filed with the Internal Rip of Service and the took my return.
The reason I stopped paying the loan is because someone had filed a class action law suit against the school concerning a the class I took. the suit ..if i remeber correctly was mostly about the lies and misrepresentation by the school that you would be able to get some kind of certification and a paticular type of job. That was not the case.
Anyway the school lost and BIG!Hundreds of Millions of FRNS. I got a check for 300 FRNs Lawyers and the origanal petitioner got the rest.
It seemed to me that since the Feds and California should have made sure the school was offering a legitiment course before making these loans. I was WRONG. So after many letters and phone calls to the so called Dept. of Education both the Fed and California. The Lender AFSA and letters to congress I got no where. I have not heard a thing about it but i did verify the debt is still there recently.
I guess I could open up "FREDs Door Hanging School. Get all kinds of students to sign up for a loan and take the FRNs Right?
Anyway since i am shelving my Hot Dog Cart till I have mt ducks in row.
This will be my first endeavor in to legal land.
Now where to start?
Last edited by D.Dog : 05-07-2005 at 10:00 AM.
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05-07-2005, 08:33 PM
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Practice Makes Perfect
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Join Date: Oct 2004
Location: Connecticut Republic
Posts: 266
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Quote:
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Originally Posted by TheBlackTruth
That's gret news, Logos!
Is there any chance you might be able to produce some sanitized copies of both the correspondence sent and received?
-BT
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I'm trying to get him to release copies to me for uploading. If he does, I'll definately share them. |
07-25-2005, 05:19 AM
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UCC-1 Financing
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?
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