Question: I was told that my grants and federal loans were enough to cover my education.

I am having an issue that no one can seem to help me with so hopefully someone here can help. When I attended ITT Tech (2008-2010) I was told that my grants and federal loans were enough to cover my education. Once I graduated I had a company by the name of Student CU Connect contact me and threaten garnishment if I didn't pay them for a private student loan.

I finally in June 2016 got the original promissory note and have since sent the company a loan validation letter asking for something with my signature on it, which they can not provide. I filed a complaint with Consumer Protection Bureau and the response this company sent them was that they are not my original loan holder but when I search the name on the promissory note it comes up as the student cu connect as the company.

I don't know what to do as I was NEVER told I had a private loan and can't get anyone to listen and help me! Can someone please offer some advice?

Comment! It's anonymous!

4 replies (most recent on top)

I'm going to be honest with you. While you might be unaware (most are, as student loans are very complex), this loan is most likely VERY REAL.

First, you need to find out what the statue of limitations on private student loans is for your state. It can range from 4-10 years in most states. That means the creditor can only sue or garnish you within that time frame. After the limit is up, all they can do is threaten to sue so that you will admit to the debt or make a payment to reset the limitations. It sounds like they know they cannot garnish you and are trying to trick you into resetting the clock on the statute of limitations. If that happens, you will be obligated to pay. Until then, ignore their letters and tell them to add your number to the do not contact list.

Check your credit report for each of the three major reporting agencies. If the debt in question is on one or more of the reports you can file a dispute through the credit reporting agency.

You can get a free copy of the reports once per year. See the below link.

https://www.consumer.ftc.gov/articles/0155-free-credit-reports

You might try checking your credit reports with all three credit reporting agencies. If there is an outstanding debt there should be a record of it on one or more of your credit reports. You can then file a dispute through the credit reporting agency.

The law entitles you to a free credit report from each of the major credit reporting agencies once per year. See link below.

https://www.consumer.ftc.gov/articles/0155-free-credit-reports

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Question: I was told that my grants and federal loans were enough to cover my education.

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