Paying off a student loan - what are we forgetting?
March 20, 2014 8:42 AM Subscribe
I have a student loan with Florida Department of Education, the flakiest loan servicer in the world. We want to be sure we do everything right as we pay off this debt.
posted by stewiethegreat to Work & Money (4 answers total)
We're paying it off for a number of reasons not least of which is the fact that they regularly do not record our payments (which are sent in by our bank with records of on-time mailing and receipt by FL DOE) and send us (and the credit agencies) notices of late payment.
We contacted them and have received a settlement in full offer in writing. I have gathered the money necessary to pay it.
They stated the full amount required and the due date.
They stated that once the funds are posted a paid-in-full letter will be provided within 45 days. They also stated that after the loan is paid in full the Department will notify nationwide consumer reporting agencies to update the status of my loan to "paid collection account" (yes, our loan was in arrears for 18 months because I was an idiot when I was 22).
Is there anything else I should make sure I get from them or anything else I should do to protect myself? My goal is to a) never hear from these FL DOE idiots again b) have my student loan firmly behind me c) improve my credit so that I can consider buying a house in a few years.
Thanks for any advice, these guys don't seem shady, just incompetent but both are equally difficult to work with.