Fargo Wells Financial » Financial http://www.fargowellsfinancial.com Meeting All of Your Financial Needs Tue, 06 Jan 2009 12:15:13 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Fargo Wells Financial | Federal Student Loans http://www.fargowellsfinancial.com/financial/federal-student-loans http://www.fargowellsfinancial.com/financial/federal-student-loans#comments Thu, 27 Nov 2008 01:52:09 +0000 admin http://www.fargowellsfinancial.com/loans/what-loan-company-will-take-over-my-federal-student-loans-when-the-loans-are-in-forbearance What Loan company will take over my federal student loans when the loans are in forbearance so I can go back to school?  Is this something that Wells Fargo can help with in their financial departments.

My loans are government loans from Saillie Mae. I owe them under $5000.
I heard about this company that will take over your school loans from them but I don’t know the name of the company. Not Sure whether this is Fargo Wells Financial though?

No one will “take over” your loans. You will still owe the money to your lender when you are in forbearance. They will simply add interest every month while you are making payments.

If you are asking about defaulting the lender will just contract out with a collection agency to start calling and hounding you to mail them payments. If you make 6 to 12 months worth of willing and reasonable payments you can ask your lender to “rehabilitate” your loan. This is when you are issued a new loan and pay off the one in default so you can get federal fin aid again. Again, rehabilitation can only be done after you have made 6 to 12 months of payments.

]]> http://www.fargowellsfinancial.com/financial/federal-student-loans/feed 1 The Financial Crisis…Simplified http://www.fargowellsfinancial.com/financial/the-financial-crisissimplified http://www.fargowellsfinancial.com/financial/the-financial-crisissimplified#comments Thu, 20 Nov 2008 01:42:13 +0000 admin http://www.fargowellsfinancial.com/financial/the-financial-crisissimplified Hank (and Hank and Hank and Hank and Hank) give an extremely simplified account of how we got into such a terribly gigantic financial mess in America.

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