Student loan after bankruptcy

[rajpind]

What is the name of your state (only U.S. law)? OR
My husband and I just got out of out chapter 13 bankruptcy on June 3. We filed chapter 13 in May 2005. We had a student loan that we were making payments on until they stopped taking payments I made attempts to continue payments but I didn't get anywhere. Today I received 5 letters from Zwicker & Associates P.C and so I called them to resume payments only to find out that they wanted all the money right now. The lady told me to cash out my 401 k or take money on credit cards or refinace the house to pay it off. And I explained the situation under which we filed bankruptcy and we were not going to take a loan or anything like that but I would like to make arrangements to pay. She started by saying we owed $4200 but she would settle for 3350. How do I deal with situation. Does anyone have any advise
RitaWhat is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?

 

[nrknlknek]

They are most likely just a collection agency whose "mission" is to cajole as much money out of you as they can get (because that's how they get paid). You can only do what you can do. I would certainly not counsel you to take out a loan or cash in your 401K. They will probably accept a monthly payment. The worst they can do is file a lawsuit, get a judgment and garnish your wages up to the statutory limit in your state and attach bank accounts. They can also put a lien on youir house, but all of the foregoing is predicated on them obtainin g a judgment against you first. I would thin that you can proabably get most if not all paid off before that could possibly happen.

 

[rajpind]

rajpind

OR
Has anyone heard of Zwicker & Associates, P.C? I have been doing some research and I am not sure whether this is a legal collection agency. These people have started calling more frequently and I came across a web site that says that they are not a Law Firm but they claim to be one. The web site is called 'Zwicker & Associates p c consumer comments' The last time I spoke the women she said that she was going to put her supervisor on and he demanded the money immediately and when I got the money he asked me to call them and give them the bank account #. When I siad that that is something that they will never get out of me he asked me how I planned on paying them and I said you can mail me a letter giving me all you terms and conditions and where the payment should be sent and I will mail you a Cashiers check and he said that they don't accept cashiers check but that he will mail me a letter priority mail that was last tuesday I haven't received anything yet! I don't want to play around if this is a legitimat collection agency, but at the same time they will not accept payments and they want all of it in one payment.
RP

 

[Ladynred]

Has anyone heard of Zwicker & Associates, P.C?

Your search skills on Google need some improvement. Zwicker is indeed a legitimate (an oxymoron.. lol) collection agency and they've been around for quite some time.

Don't fall for that 'supervisor' trick .. all they do is hand the phone their buddy in the next cube who then PRETENDS to be 'the supervisor'.

they will not accept payments and they want all of it in one payment.

They ALWAYS say that, typical pressure tactic, it's meant to intimidate you and make you pay up.

Given that cashiers checks are easily counterfeited, it's no surprise they don't take them.
Set up a bank account in another bank where you have NO other accounts. Put ONLY the money you will pay them in that account, nothing more, nothing less. Let them have THAT account information, then close the account as soon as they are paid off. This way you can set up monthly payments and they cannot ever access your regular accounts.

 

[rajpind]

zwicker & Associates

My husband took a loan on his retirement and we mailed Zwicker & Associates a cashiers check for the full amount. They cashed the check on the 28th of July, we mailed it on the 25th cc mail. Today I pulled up the credit report and it states "seriously past due/ assaigned to attorney, collection agency or credit grantor's internal collection dept." Now that they received the full amount will they change their report if not what do we do to prove that the loan was paid in full.
Rita

 

[Ladynred]

Not all furnishers send updates to the credit bureaus monthly, some only do it every 3 months, but to expect the entry on your reports to show 'paid' in a matter of days is unrealistic.
Give it 30 days - if in 30 days it's still not reporting as paid, file a dispute with the credit bureaus with proof that it was paid in full.