Anyone want to give me a read on this?

[teenagebambam]

To preface - I feel like kind of an idiot.

Hubby was contacted by a company offering to help in the re-consolidation of his student loans, which are substantial as are mine. With no changes, we will be paying them off until we die.

Company offered information that there are new programs with the Department of Education that will consolidate and forgive part of the debt after a certain period, based on the type of work we do. For a "fee", they would do all the legwork and begin the application process.

After they talked to him, I called back and talked to them about MY loans, yadda yadda - I got much further in the process than he did, and ended up basically giving them too much information about myself, including bank account number, SSN, etc...so that they could begin the application process with the DoE.

I know, duh, right?

I've been investigating and obsessing all weekend - it DOES seem to be a legitimate company, with a landline and a physical address etc., and the DoE DOES have such a program - but of course, I can just apply for it myself without paying any fee at all. I checked the DoE website, and someone has indeed entered my information and requested a PIN number (which was what the company said it was going to do....so far everything seems to be on the up and up).

I haven't signed anything with the company OR the DoE, and I'm going to notify my bank on Monday and call the company to put a stop to whatever process they've started...just hope I haven't made a huge mistake now that my information is out there.....

[elleng]

1. May be OK if you're convinced they're legit,

but think if you'd rather (and actually would) do it on your own w no 3d party fee. If you really wouldn't do it, I might suggest you let them go ahead.

Good luck.

[Ricochet21]

2. I can't comment

because I have 2 birthdates for you, 12/12/66 and 8/12/66

please clarify
thanks

[teenagebambam]

3. 8/12 is correct

[LiberalEsto]

4. As someone who consolidated my daughter's loans

let me just warn you to question every detail
to make sure you're not getting a higher interest rate,
now or in the future. Or any kind of change in terms.
I made the mistake of consolidating a couple of her loans
and we ended up with higher interest.

This does not sound right - change your bank account number, etc.