Change of Loan Date by a Debt Collector
My question involves collection proceedings in the State of: Kentucky Midcontinent University went bankrupt in 2014. Students lost their Pell grants for that year because the college lost their certification. The university said they loaned the students the amount of the Pell grants and are presently collecting these debts. They hired a third party to collect these debts and this new company has changed the loan dates. Can that be considered breach of contract by the third party who says that their new collect date cannot be changed?
Re: Change of Loan Date by a Debt Collector
The debt collector "changed" the date of the loan in what context, for what purpose?
Are we talking about an entry on your credit report?
Re: Change of Loan Date by a Debt Collector
No, the school hired a third party to collect payments and told me there billing cycle date is the 12th of each month where I had been paying on the 22nd of each month.
Re: Change of Loan Date by a Debt Collector
Once you're delinquent, the dates really are meaningless.
Yes, they can do this.
Re: Change of Loan Date by a Debt Collector
Quote:
Quoting
makkulpa
No, the school hired a third party to collect payments and told me there billing cycle date is the 12th of each month where I had been paying on the 22nd of each month.
So you meant to say that they changed the due date for your payments. Unless your due date is dictated by your contract, if the provision is for monthly payments then a shift in the due date would remain consistent with your contract. Also, as flyingron indicates, if this is catching up on arrears after default, they can define a different due date as part of that repayment agreement.