Hello!

My student loans are in default. ACT is the collection agency that has them. I explained my situation to them and they are telling me the best thing to do is loan rehabilitation. I really want to avoid having my wages garnished because it will make me look irresponsible at work and I think it could hold me back there. On their website the terms say that there is an 18.5% fee when they sell the loan back to whoever after I rehabilitate it.

But when I talk to them on the phone, they are telling me that the wording is bad and there is no 18.5% fee. When I said I wasn’t comfortable they tried to pressure me into signing up for this today and that the offers they made me could go away at any time.

From everything I’m reading there is a standard 18.5% fee added to the principle when a loan is rehabilitated. If that’s what I need to do I guess that’s what I have to do, but I’m very concerned about their integrity because it really seems like they’re lying about this.

I asked for an email or something in writing and they won’t provide it.

So my question is, are they just flat out lying about this?

AND, is there a way I can just make payments and not be under threat of having my wages garnished without the 18.5% fee?

Thanks!