FedLoan Servicing is a company which deals with student loans on behalf of the Department of Education.
If you’re reading this, then you’ve probably been recently contacted by FedLoan about a loan repayment, or perhaps noticed their name on your credit report. So you’re probably here for one particular reason: To find out how to remove FedLoan collections from your credit report.
How to Deal with FedLoan on the Phone
If they’ve called you, the first thing you should do is let them know that you’re aware of your rights under the Fair Debt Collection Practices Act. This means that they know they can’t do things like calling you at inappropriate times, calling you at work, or otherwise harassing you.
The very next thing you should do is say that you wish to continue the conversation in writing and hang up. You haven’t tried to avoid repaying your debt, you’ve merely requested a different contact medium – which is perfectly fine, so they have to comply.
FedLoan uses the fact that people don’t know their rights to bully them into agreeing to repayments, but they don’t like to do that when there’s proof. This is why they’ve called you instead of mailing you.
This is why you need to switch the dialogue to email (or snail mail if you’d prefer that).
Request a Debt Validation
The first thing you should do is request that they send you a debt validation report to prove the debt is actually yours. Ideally, you’d do this the moment you got off the phone from them – you only have 30 days from the first time they contacted you to do this.
If you’re having trouble figuring out how to word it, then feel free to use my debt validation letter template to get an idea of what to say.
Perhaps you’ll get lucky and they won’t be able to provide the proof you requested, and they’ll have to remove the negative entry from your credit report.
If you’re not lucky and they’re still after your money, you could offer to pay the debt off and in exchange request that they remove the negative entries (late payments or collections) from your credit report. It doesn’t have to be the full amount – I’d recommend haggling for it, and starting at roughly 50%.
Get a Professional
If you’ve tried all of this to no avail, then you might consider hiring a professional who knows how to remove FedLoan collections from your credit report.
If you decide to go this route, I suggest you check out Lexington Law Credit Repair. They’ll take care of you, and honestly they usually get stuff removed a lot quicker. Give them a call at 1-844-764-9809 or Check out their website.