I took out a student loan back in 1998 to pay for a seven and a half month, crash course in accounting. The school was a joke, the instructors were a joke and the whole thing turned out to be a huge waste of my time. They filled out all the paperwork for all the student loans and all I did was sign at the bottom. Anyway, ten years later, still basically working from paycheck to paycheck, and going through a divorce, in which I lost almost everything, VanRu Credit somehow got my phone number. They called me at least three or four times a week trying to collect.
I explained to them that I was going through a divorce and that I'd lost everything, had no job at the time and that I was living in my car. I also told them that my income tax refund would be coming soon and with that money, I could get back on my feet and work out a solid repayment plan with them. Big Mistake! They garnished my federal refund ($5,652), my state refund ($600), my economic stimulus check ($1200) and for the last couple of months, they've been garnishing my paycheck every week. They still call me all the time and want to know when I will pay the remaing balance. Somehow, I still have an "outstanding balance" of about $7,000. I really believe that some "major changes" are needed in the way these kinds of loans and collections are handled.
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