Legal Question in Business Law in New York
Student Loan
I received a letter from New York State Higher Education Services Corporation (NYSHESC) informing me of the following:
''Higher Education Services Corporation (HESC) received funds in an amount sufficient to pay ypur defaulted student loan in full.''
This letter further states: ''HESC reports defaulted loans to all National Credit Bureaus at the time of purchase. These Bureaus will be notified and your credit file updated to indicate that your loan is paid in full.''
Now they are trying to tell me to ignore this letter. Is this letter not legally binding on their part since it said Paid In Full and any legal document so stated must be fullfilled?
I would like to know if I have any legal recourse since I inquired about paying on the loan and the above is what was sent to me from them in a letter, dated 6/21/02?
2 Answers from Attorneys
Re: Student Loan
If the loan is paid off, the forgetting the letter in a problem.
If you did not pay off the loan, it appears that they made an error and have corrected it.
RRG
Re: Student Loan
The mere fact they sent a letter in error that acknowledged payment when there was no payment would not wipe out your obligation.
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