loan rehabilitation

From: Bailey, Karen (ksbailey@ukans.edu)
Date: Fri Jul 07 2000 - 15:41:49 EDT

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Has anyone considered this scenario...

Borrower has been faithfully paying the collection agency every month for
the last 3 years and has never missed a month. On June 13, the collection
agency posted a payment to their system that paid the loan in full. The
actual money isn't posted to the University account until July 7. This
posting crosses the July 1, 2000 date for loan rehabilitation.

Regs say that at least one payment must cross the July 1 date, is the
payment considered received on June 13 or July 7? What if the borrower
requests that we clean up his credit bureau report as part of loan
rehabilitation, would you honor his request?

Thanks for any words of wisdom,
Karen Bailey
University of Kansas
Perkins Loan Office
785-864-5929
785-864-5059 FAX

• Next message: SFA Customer Support: "Update: 2000-2001 Special Disbursement Batch Processing Now Opera tional"
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• Next in thread: Piper, Pat: "RE: loan rehabilitation"
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• Maybe reply: by way of Lynn Davis : "RE: loan rehabilitation"
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