From: Karen Reddick (kreddick@ncmstl.com)
Date: Wed Jan 29 2003 - 11:05:53 EST
I have inquired with Department of Education regarding this matter. It is
common practice for third party collection agencies to accept credit cards
to pay off student loan debt and most of our College and University clients
follow the same practice.
Karen Reddick
National Credit Management
-----Original Message-----
From: oa.kderouen {Karen DeRouen} [mailto:oa.kderouen@forum.utexas.edu]
Sent: Wednesday, January 29, 2003 8:46 AM
To: bursar-l@virginia.edu
Subject: RE:
Our collection agencies as well as the University accept credit card
payments for loans at a collection agency.
Karen
*******************************************
Karen DeRouen
Loan Collections Supervisor
Student Accounts Receivable
The University of Texas at Austin
(512) 232-4063
(512) 471-0212 fax
*******************************************
-----Original Message-----
From: Keith Fitzsimmons [<mailto:kfitzsim@kumc.edu>mailto:kfitzsim@kumc.edu]
Sent: Tuesday, January 28, 2003 4:24 PM
To: bursar-l@virginia.edu
Subject: Re:
>>> Linda Winslow <lwinslow@clarku.edu> 01/27/03 11:08 AM writes in
part>>>
It was my understanding that it was a Federal Law that Collection
Companies could not allow a borrower to pay off their student loans using a
credit card... this is illegal?
Linda:
Below is a response from one of our third party collection agencies, Credit
World Services of Mission, Kansas. Hope is it helpful. Keith Fitzsimmons
Univ of Kansas Medical Center
<schappel@creditworldservices.com> 01/28/03 12:48 PM >>>
Keith,
I haven't ever heard of this rule before. Could someone let us know where
it came from? We, like all other agencies that I know of, accept credit
card payments. If you have a source, please send it to me and I'll check
it out for you. Shirley
This archive was generated by hypermail 2.1.4 : Wed Jan 29 2003 - 12:07:20 EST