Most of you are here today because you received notice that your federal tax returns will be offset this year. For those of you that are unaware, a tax offset means the Federal Government of the United States will be seizing your Federal income tax return and possibly your state  return as well (depending on the state of residence) because your Federal Student Loan found its way into default/collections.

I’d like to start off by congratulating those of you who stumbled onto our web page last year and purchased the Student Loan Blueprint. Most of you grew tired of having your tax returns offset year after year, some of you had your tax returns offset for the first time and simply wont let it happen again. Regardless, the Feds won’t get their hands on your income tax returns this year! Most of you who purchased the Student Loan Blueprint should have began the loan rehabilitation process during the summer. So…

Congratulations:

To those who started loan rehabilitation in May 2011: should be making the final rehabilitation payment this month (January 2012). As long as the payment was made on or before the 25th, you should be in the clear to file mid-February.

To those who started loan rehabilitation in June 2011: should be making the final payment on or before February 25th for those who plan on filing in March

To those who started loan rehabilitation in July 2011: should be making the final payment on or before March 25th, barely making the tax filing deadline of April 15th.

Make sure you don’t have any stray loans in default that you didn’t know about. As long as you were able to follow the blueprint, all your loan(s) should be well on its way OUT of default/ collections but remember,

“Don’t make the biggest student loan borrower mistake!!”

There are still procedures and paperwork the collection agency needs to complete before your loans will be taken out of default even after the final payment has been made. Most people make the mistake of filing their taxes immediately following their final payment. Your tax returns will still be offset if you do this! Wait about 5-15 days after you made your last payment. Then contact the collection agency the loan(s) are assigned to, along with the Treasury Offset Department at 800-304-3107. You’ll want your loan account closed with the collection agency and the U.S. Treasury to inform you that you’re no longer certified for Treasury offsets. It’s even safer once the loan is assigned to a new lender. Once confirmation is received, you’ll be 100% in the clear to file and will receive your entire income tax refund! Once again, congratulations!

Those of you who are new to our webpage probably have a lot of questions regarding the status of your tax return. Hopefully we’ll be able to answer all your questions here today, help you solve your tax dilemma, and assist you so that you can make the most educated decision. If you have already purchased the Student Loan Blueprint, read the “Treasury Offset Certification Process” section before continuing on to the following FAQs. You can also check out Student Loan Tax Offsets 101

The following questions have been taken from comments left on my blog. Visit my blog!

Q: Stephanie K. says: How do I know if my tax returns will be taken? January 22, 2012 at 10:34 am

A: Your best bet is to call the U.S. Treasury’s Offset Department at 800-304-3107 to check if you’re certified for Treasury offsets.

Q: Steven H. says: I just filed my taxes this past week and learned that my tax returns will be taken this year. Is there anything I can do before they take it? January 23, 2012 at 2:52 pm

A: Unfortunately, there’s not much you can do once you’ve filed. You can attempt to file a hardship claim but at this point, chances of seeing your tax money is pretty slim.

Q: Anonymous says: If I have an offset, will the collection fees also be taken out as well? January 22, 2012 at 4:21 pm

A: Involuntary payments received through treasury offsets are not applied towards collection fees. Tax offsets are applied to the loans outstanding interest before the principle is even touched. If the offset pays off the remaining interest, the rest will then be applied to the loan principle. Collection fees are calculated based off a percentage of the loan’s combined principle and interest. Therefore, as the loan’s combined principle and interest goes up and down, the collection fees will reflect accordingly. Click here to learn more about payment applications.

Q: Chris S. says: I wish I found your webpage sooner! They already took my taxes last year. Are they going to take it again this year? January 22, 2012 at 11:19 am

A: If your taxes were taken in the past, you’ve been certified for the Treasury Offset Program. This means that your taxes will continuously be offset until the loan(s) is either paid off or out of default.

Q: Alicia says: The total student loan debt was 8600, last year they took around 3900 , this year they are taking over 9000, and they said the debt still won’t be paid in full.. How can they do this?? January 12, 2012 at 6:06 pm

A: This will depend on how much interest has accumulated on the loan. There’s a good chance the interest has grown out of control if a payment hasn’t been made towards the loan(s) in a substantial amount of time. If this is the case, the money from your tax offset is being applied towards your loan’s outstanding interest. Since you’ve already been certified for treasury offsets, you can look into the option of a settlement compromise then use the money they’ll be seizing from your tax returns to settle the remainder of your loan(s). But remember, its time sensitive! Click here to find out how.

Q: Ali says: Hi there. I was wondering….I am currently in a rehabilitation program and had to sign this documents saying that I have been making payments (february will be my last one)….On the document it says that I will receive any offsets that have been taken from me by check once my 9th payment is made….does this mean I will receive my tax returns that have been offset in the past due to the default of my student loan? January 18, 2012 at 4:47 pm

A: This does NOT mean you’ll receive the tax returns that have been offset in the past. It means that they’ll return this year’s offset to you if they “accidentally” took your taxes if you file after your 9^th payment has been made. Even though they’ll return your money, you don’t want to be stuck in this situation because they’ll usually take a very long time to refund your money. To avoid this, make sure to call ED to make sure the 9^th payment is posted on their system before you file this year. It’s even safer if you hold off on filing until your loan has been assigned to the new lender. Congratulations, you are on track to receive your tax returns this year!

Q: Kyle Blanton says: They have been taking my taxes for the past four years for a student loan. I owe 1400+-. If my tax return lets say is 3000 will i receive the difference back? Thank you. January 22, 2012 at 10:56 pm

A: Yes you will receive the difference. They should only be taking the principle and remaining interest on your loan. Once those are gone the collection fees will be gone as well. Any percentage of 0 is 0, and since the collection fees on your loan is based off a percentage of your combined principle and interest, the same will apply. So what I’m getting at is, they should be taking less than $1400 if collection fees are also included in that figure. You may also want to look into a settlement to save yourself even more money.

Well I hope this helps! Most people are caught in unfortunate situations where it’s already too late. They sign a death sentence for their tax money by filing their taxes too early, and are now looking for solutions. The best situation is to stumble across this information a few months before tax season. Ideally, 9 months before tax season. Click here or on the button below if you want to learn more ways to FREE yourself from your student loan troubles.

Please leave a comment, rave review, questions, etc. at the bottom of the page. I hope to hear from you!

Sincerely,

Mr. Kay

Rogue Student Loan Collector

The Confessions of a Student Loan Collectors – Visit:www.FreeStudentLoanStuff.com to get the most shocking truth about defaulted student loans. .

Mr. Kay here,

The U.S. Department of Education held an interesting meeting today (October 28,2011).

Why was it interesting?

This meeting had all the “big wig” collection agencies all in one place.  I told this same story on why this meeting was so important to a friend of mine.

His response…. “someone should of dropped a bomb.”

Now… in NO WAY – SHAPE OR FORM I am saying to do this or I wish this happened. But… this meeting is a very very interesting scary meeting.

In this meeting the U.S. Department of Education said they have  $33,502,777,441 in the defaulted student loans aka “their portfolio”.

That’s 33 TRILLION!!!!! Do you know how much money that is?  If you don’t know – watch this video, it will blow your mind away.

Can you believe it? Well I hope you can.  And that number is just the DEFAULTED student loans.

Now… let’s do the math on this.

If you take $33,502,777,441 (total default loans)  divide by 3,000,000 (borrowers – what US Dept of Ed Released) = $11,167.59 for average borrowers loan.

Now… this doesn’t sound right from my survey I’ve completed.

TAKE SURVEY HERE

I’ve had over 6,342 borrowers who took the survey since last year and 43% of my email subscribers said they had loans over $30,000!

We see a disconnect in the number released by US Department of Education and what I’ve found. But that’s the government they are ALWAYS right.

Now…

Why is this important to know and why was this meeting on October 28, 2011 important?

Simple…

U.S. Department of Education NEVER collects on the student loans by themselves.  U.S. Department of Education collects money on defaulted student loans using 3rd party collection agencies.  These collection agencies are contracted and when they get the “ED contract” they are basically given super human powers (Sorta).

These power include.

1. Take your income tax money
2. Garnish your wages without court orders
3. No statue of limitations (meaning you will owe it forever)
4. Slapping Judgement
5. Taking your professional licenses (real estate people, doctors, chiropractors, attorneys etc)
6. Even your kids won’t be able to go college (really? Click here to find out)

Ok ok ok… Mr. Kay I get that the collection agencies went to this secret meeting. What does this super power have to do with defaulted student loans?

We’re now going to get into a deep rabbit hole…

This hole is dark, ugly, and NEVER talked about out side our industry.  You most likely would have never even know about this meeting if it wasn’t for me.

This meeting in Washington D.C. was to discuss which collection agencies “procedures and protocalls”.  From the outside in – it just looks and sounds like giberish BUT it was a strange meeting.

It was strange because we are now going to get the “next round of contract” from U.S. Department of Education.  Meaning… who will get hired and get guarantee income AND the super powers!

Also…

In the meeting U.S. Department of Education  said… the current “recovery rate” (how they take your money), is at 11.5%.  Mr. ED wants to increase that rate to 13.86% in 2012 and grow it to just about 14% in 2015.

On top of that…

If you are not aware – the commission pool (aka from collecting) in 2012 is $500 million and is projected to reach $700 million in 2015.

THAT IS THE #1 REASON WHY THE COLLECTION AGENCIES WANT THE “ED CONTRACT”

The current contract is called the 2009 contract but put into play in 2008 (that’s your government for you).  This contract will go bye-bye in 2012.

It’s odd that ED will come out and make these statements when collection agencies right now can get an “extension” (based on performance of course). Collection agency with the “ED contract” gets a performance report. This performance report is kinda like a report card.  It shows how much they collected, how they collected it, how many accounts was worked, how many garnishments, how many complaints (this is KEY – leave a comment if you want to know why) and etc.

This report card will then tell the story if the “ED contract” will stay with this collection agency or move to that collection agency.

Starting THIS QUARTER. The fourth quarter of 2011… these student loan collection agencies can get a little bonus point on their report cards… if they follow this special rule.

This special rules will now GIVE other collection agencies the same super powers to collect on student loans.

How is this possible when you MUST have the “ED contract” to “officially collect on these loans”.  It’s simple… these other collection agencies are now allowed to be “sub-contractors”.

ED -> subcontracts to EVIL COLLECTION COMPANY ->sub contracts to mini-me evil collection company

This meeting had more than the 22 companies on the “ED contract” with the few extras new kids.

Now I’m asking myself…

Is ED looking to now expand and collect on this money? Our country needs a cash infusion and are they now going to come to the student loan borrowers.

I think they are… they have $33,502,777,441 in student loans.  This meeting is the start…

Please leave me a comment, rave review, questions, and etc. I hope to hear from you soon.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

The Confessions of a Student Loan Collectors – Visit: www.FreeStudentLoanStuff.com to get the most shocking truth about defaulted student loans. .

Why should you listen to me?

Why am I releasing this information?

This is one of the best documentary that has been created.

If you thought that the real estate market crash of 2007 – 2008 was terrible. Imagine the impact of our student loan bubble. You need real solutions to this epidemic. – Mr. Kay

THE STUDENT LOAN BLUEPRINT – REVIEW

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

I can sit here and explain every detail but… I have the solution.

I just have 3 tasks for you…

1. Watch this entire video (it’s pretty much the best YouTube Video I have ever scene. More of a documentary than just a YouTube video).

2. If YOU are behind on your defaulted student loans click here or visit: http://www.FreeStudentLoanStuff.com where I expose the student loan collection agencies darkest secrets.

3. Comment below

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

Now… the question is…… Can Student Loan Debt Put You In Jail?

The Answer = NO

BUT (you knew this was coming)….

A few days ago a gentleman named Kenneth Wright who does not have a criminal record and he had no reason to believe a SWAT team would be breaking down his door at 6 am last Tuesday. I can go on an explain but just go ahead.  Watch the video below….

Ask you watch this I’m investigating on “WHY” Department of Education may have ordered this.

Last few months has been kinda crazy in the industry… I’ll give you an update when I have solid evidence.  So far it has been rumors that can impact you and your kids future.

Thoughts?

PS

Some say that this is a fake but I cannot prove anything.  Can anyone else verify and give me more information on this?

Leave me a comment below.

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

Collectionology – This is the inside information on what goes on in the heads of big collection agencies and the big wigs. To fight against the system, you must first understand the system.  Let my views educate and inform you, but let your decisions be a product of your own conclusions. – Mr. Kay

(Get the Exclusive Interview “Confessions of a Student Loan Collector”)

I didn’t get to where I am now because I’m some type of magical words smith.  I got where I am because I’ve educated myself on the industry I feel into.  When I started in collection, I stunk.  I couldn’t collect money if my life depended on it. It got to a point where I decided I needed to change.  I mirrored one of the top skip tracer in my company and learned every trick in the books.  Since then I’ve been a life time student on education.

For the last few years. I’ve subscribed to this new letter that gives tid bits of trips tricks and strategies to collectors all across the United States.

I wanted to share this news letter so you can get a better perspective on WHY collectors do the things they do or say the things they say… I shared this with a friend of mine and he was blown away.

CLICK ON THE LINK TO GET THE ARTICLE

The article talks about 2 topics.

• TOUGH CALL – 6 Ways to Quit the Overly Talkative Consumer – You’ll learn some of the key “language” collectors use to  take you out of your state and get control of the conversation.

You want to know these tactics so you can PIN down the collector.  Inexperienced collectors will become “friends” with the borrower and WILL give you the best deal possible.  I’ve personally done this… where I’ve gone above and beyond… because I just liked the person on the line.

Your goal is to become friends.  An old saying is… “you can catch more bees with honey than vinegar” – Mr. Kay

• AVOIDING CRITICAL ERRORS – Under stand the “process” and the “mentality” of a collector.  One key point is  “IF you DO NOT know why the consumer is past due, you CANNOT effectively negotiate for payment.”        Look I’m not telling you to lie to the collector BUT the story is the KEY to getting what you want from the collector.  You can expect to get the lowest settlement when you show solid income on your 1040 OR ask for the lowest payment when you have $600 per month BMW payment.

CLICK HERE TO READ THE COLLECTOR INSIDER TIPS

I’m going to end it with one of my favorite quotes….

If you don’t like where you are, change IT! You’re not a tree. – Jim Rohn

Understand that circumstances are created everyday but it’s how you deal with them that makes a world of difference.

Leave me a comment below.

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

Collectionology – This is the inside information on what goes on in the heads of big collection agencies and the big wigs. To fight against the system, you must first understand the system.  Let my views educate and inform you, but let your decisions be a product of your own conclusions. – Mr. Kay

(Get the Exclusive Interview “Confessions of a Student Loan Collector”)

Collection Technology Inc. (CTI) claimed the top ranking among small contractors on the U.S. Department of Education’s debt collection performance results for the third consecutive quarter. CTI scored 96.34 points, well ahead of second place finisher Coast Professional Inc, with 83.41 points. Delta Management Associates rounded out the top three finishers with 81.43 points.

Meanwhile, Pioneer Credit Recovery reclaimed the first-place ranking among unrestricted contractors, scoring 95.32 points, as NCO Group and Van Ru Credit Corp. slid out of the top three. FMS Investment Corp. took second place with 90.15 points during the quarter and Continental Service Group, d.b.a. ConServe finished third with 89.19 points.

Quarterly performance rankings are the only ones that really matter on the collection contract, as account placement volumes are determined by score: the top ranked firms will receive a greater percentage of new accounts when the accounts are distributed later this quarter.

Scott Daniels, CTI’s vice president, told insideARM.com that the company is enjoying the rewards associated with receiving a greater percentage of ED accounts. But the growing inventory puts the Monterey, Calif.-based firm at risk of losing its top ranking at some point, he said.

“The competition is designed to not let someone get too far out ahead,” Daniels said. “The farther ahead you are, the more you carry and it’s difficult to keep up with it…We will be in some neck and neck races and we may lose.  But we think we’ve got a strategy that will allow us to win.”

ED performance scores are based on a weighted average of total dollars collected; total accounts serviced and total administrative resolutions. The top performer in each contractor group receives the maximum score for that category, and the other agencies are scored against the top performer. The department awards 70 points for dollars collected to the top performance, 20 points for total accounts serviced, and 10 points in the administrative resolution category.

As the 2009 contract ages and more facets, such as inventory balance come into play, the performance rankings have become more volatile, particularly among the unrestricted contractors.  None of the top three performers this quarter won two or more categories for the October through December period.

Pioneer, a subsidiary of student loan giant Sallie, won first place because it collected at least $3 million than in December than any contractor in December. It has collected more than $55 million on the contract to date. However, Pioneer finished 8th in the administrative resolutions category and 5th in the accounts serviced category. FMS, meanwhile, finished first in the accounts serviced category and 2nd in the administrative resolutions category.

Because CTI bested its peers in at least two categories, its overall score was higher and therefore its percentage take of the new inventory also will be larger. Daniels said CTI’s employee count hasn’t increased much because of the increased business. CTI is, however, putting more time into matching specialists with the type of accounts it receives, which varies with each distribution, he said.

During the first 14 months of the contract, all 22 collection agencies (17 unrestricted and five small business firms) have collected more than $738 million for the Department of Education.

Student Loan Collection Performance Report for Fourth Quarter 2010

Leave me a comment below.

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

With the tax season right around the corner, I have literally gotten over 170 emails since this month started.  I wanted to cover a topic that no one else is taking about… The Treasury offset Program.

What is a Treasury Offset? Under this Treasury Offset Program, the Financial Management Service, a bureau of the US Department of Treasury will offset Federal and/or State payments if a borrower fails to pay their obligation. While the most common type of Treasury offset is for Federal tax income refunds, several other types, such as social security benefits and federal salaries are also eligible for full or partial offset. In other words, if a borrower has an outstanding federal debt and they have incoming social security benefits, this too can be subjected to the offset. In addition to defaulted debts held by ED, defaulted loans held by guaranty agencies are also included in the treasury offset process.

Mr. Kay’s Notes: With the TOP program the seized amount is considered an involuntary payment meaning the amount will be applied to the balance but will not count towards any voluntarily payment arrangement such the Rehabilitation Payment Plan. The money seized from the offsets is only applied towards a loan’s outstanding interest until it’s paid off, and then it’s finally applied to the principle.

“Not knowing the solution, a lot of debtors I talk to give up and surrender their hard earned tax return annually. I think Dept of Ed wants you to be stuck in this trap so they could suck your money every year. I’ve seen debtors get their taxes seized, call in the following year to find out the balance is still the same from the year before….” – Mr. Kay, Rogue Student Loan Collector

Other Federal and State agencies also certify debts for offset, but Department of Ed has historically been responsible for the largest volume of offsets. As a result, many tax professionals, and even the IRS will automatically assume an offset has been requested by the Department of Ed when in fact, it may have gone to another Federal or State debt.

State Payments

State payments (e.g., State tax refunds), in addition to Federal payments, may be offset in the Treasury offset program. Just recently the Treasury Dept was requested to offset both Federal and State payments for federal student loans.

States Involved

Alabama Missouri Arizona* Montana Arkansas* Nebraska California* New Jersey* Colorado New Mexico Delaware New York Georgia North Carolina* Hawaii Ohio Idaho Oklahoma Illinois Oregon Indiana* Pennsylvania Iowa** Rhode Island** Kansas* South Carolina* Kentucky Utah Louisiana Vermont Maine* Virginia* Maryland* Washington DC* Massachusetts* West Virginia* Minnesota Wisconsin

* *Indicates states that also participate in state offset programs.

** Participates in a State offset program, but not for local taxes. The following states do not have a personal income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming.

What is the purpose of the Treasury offset?

The purpose of a Treasury offset is to recover federal debts for Federal taxpayers without the cost of legal fees. It was created to basically recover unpaid debts arising from federally supported activities, which includes but is not limited to student financial assistance. Since 1986 the Department of Education has referred millions of defaulted student loan debts and grant claims to the U.S. Treasury for collections by offsetting federal and/or state income tax refunds along with any other payments authorized by law. The Department of Ed can request for the U.S. Treasury to arrange an offset to collect any Federal defaulted student loan debt or grant claim. Once the Department of Education refers a delinquent borrower to the treasury department these groups of borrowers are considered permanently “certified” as long as the account is in default (collections).

Mr. Kay’s Notes: Being permanently “certified” means your tax returns will be continuously seized until your outstanding balance is paid off, or the loan is taken out of default after the completion of a voluntary payment program. Interest on defaulted student loans accrue on a daily basis, so your balance will probably barley budge even after your tax money has been applied.

Get more information here www.StudentLoanBlueprint.com

Leave me a comment below.

Frequently Asked Questions

• Understanding Student Loans
• Student Loan Repayment Options
• Settlement Options
• Everything About Student Loan Collections
• Garnishment? Get the 411
• Want Your Income Tax Back?
• Default VS Delinquency
• Student Loan Bankruptcy

Live Free and truly learn how to break away from your student loan troubles.

Sincerely,

Mr. Kay Production Manager

Rogue Student Loan Collector

.

Why should you listen to me?

Why am I releasing this information?

Leave me a comment below.

Get the Confessions of a Rogue Student Loan Collector
and Learn what really goes on behind closed doors.
http://www.FreeStudentLoanStuff.com

Mr. Kay
Blog: http://www.studentloanfundamentals.com

When you have a bankruptcy attorney talking about why the student loan industry is a total scam. We have some issues. In this country you can bankrupt a gambling debt yet you cannot bankrupt your educational debt.

Student loans puts a new meaning to loan sharking/predatory lending.  The cost of education has sky-rocketed yet the quality has declined.  Collection companies like ours that I am work at is making a killing.  While folks across the nation is struggling.  Just last month alone we have collected over 3 million dollars in student loan balances.  This is considered to be one of our worst month to date.  December is no different – voluntary payments are becoming difficult.  Folks are not paying there student loans. But we have had record numbers of garnishment, litigation, and tax offset requests put in.  I know hundreds of thousands of student loan borrowers are going to get hit with a harsh reality in the next 30-60 days.  God help us all…

Get the Confessions of a Rogue Student Loan Collector
and Learn what really goes on behind closed doors.
http://www.FreeStudentLoanStuff.com

Mr. Kay
Blog: http://www.studentloanfundamentals.com

Credit:
Fred Walker of Austin Bankruptcy Attorney explains how student loans are predatory lending. For more go to http://www.austinbankruptcyattorney.com