G.C. Services GC Services Limited Partnership Collection Agency Division Just stupid people Houston, Texas

OK, fist of all I have a Sallie Mae loan that is cover by United Student Aid Funds.  The loan is current, and I have no issues with it.  I missed a months payment due to oversight and got caught back up the following month with no issues.  For some reason they forwarded it to collections but not reported it to my credit score.

Now the phone call have begun with this company about this loan.  Its been totally crazy.  They actually offered to settle a federally insured student loan!!!  That's when the scam hits.  You can't ever settle a federally insured loan for less than then face value of the loan.  If its a private loan and you should defaulted you should be able to settle for 40% of the value of the loan.  NOT A FEDERALLY INSURED LOAN!!!!

I have been starting to record the phone conversations because I work on a BIA contract and am currently located on Native lands which is outside of the domains of state laws.  My goal right now is to try to get a faxed settlement letter from them for the settlement of the Federally insured loan.  So far they want payment first but I want the agreement in writing so I can show it in court if it comes up.  You have to remember that once the collector settles in behalf of the institution on a debt you owe; it becomes an issue between the debt collector and the institution.   This happens a lot in real life and normally they settle out of court, and you walk away with a little extra cash.

Rules to follow with GC Services.
1. Record their phone calls. Its illegal to record private calls but not business calls.  They are a business and do not follow the same rules and regulations we have to. The right of privacy laws concerning debts only apply to them and not you.
2. DO NOT SEND MONEY before you get a confirmed settlement letter from them. Use Kinkos or some place with a fax machine and use it,
3. Make your payment at the bank with a notary next to you. I would always use over the phone checks (using a check number) or credit card it.
4. Keep your documentation of payments. Make 4 or 5 copies and locate them is different places.


Remember that Debt collectors are you friends.  If you learn to work with them, you can clean your score right up.  They want you to go and charge more and make more bad debt so they can make more money.