so AES called today via CA (new reduced payment plan!)

[TeacherMomma]

So I am 103 days past due on my aes loans (I have over 200K with them). Diversified Collection has been calling me for quite sometime and I thought today I would talk to them. They were calling to offer their new "RP Plan" that they claim to have just rolled out. In this plan I would pay $25 or 50 per loan (my choice) and all arrearages are forgiven (rolled back into the loan). I know this doesn't help in terms of paying it off.......but in terms of getting back on track it helps. Thought I would post this in case there are others dealing with aes who need a break. They took down very basic financial information, so I could have said anything, and it was approved in 10 mins. It goes in three month increments and you just reapply. It can be up to 24 months, but I already used a year of forbearance so I only have a year left.
Anyways-fyi for anyone dealing with them. Hopefully other private loan companies will follow suit. I have read so much about whether SOL applies to TERI loans, so perhaps if it does apply this is just a way to keep you paying. Worked for me.

[student2011]

I don't understand. What do you mean by "In this plan I would pay $25 or 50 per loan (my choice) and all arrearages are forgiven (rolled back into the loan)."

[TeacherMomma]

That post was a while ago, but they said I could do a few month of 25 or 50 payments, whatever I could afford and when I made the first one they reset all my payments I was behind. It was called the "RP" Plan if you are talking with them. And last I heard it went up to a $100 per loan not $25/50.

[AngelinaCatHub]

I would be very careful of third party deals. If you are thinking of bk, you understand student loans are not exempt. I think they can be paid within your plan, but never 200k. I had no idea what school costs these days.

I would not make any deal with a third party. Stick with a lawyer if you have one. Be careful. 'Hub

[TeacherMomma]

This is from my servicer not third party.

[student2011]

That post was a while ago, but they said I could do a few month of 25 or 50 payments, whatever I could afford and when I made the first one they reset all my payments I was behind. It was called the "RP" Plan if you are talking with them. And last I heard it went up to a $100 per loan not $25/50.

Can you elaborate a bit more? A few month of 25 or 50 payments? Can you give an example? So if the private loan is 20k, how much do you pay monthly?

[treehugger1]

Is AES servicing a guaranteed student loan or a private student loan?

[TeacherMomma]

In my case they are private loans.

[karm43]

I got a few months behind twice they forgave the 2 months and i just made my usual payment. My worry is now im gonna have interest when i file chap 13. From what I hear you cannot cont to make payments on student loans.