FINANCE AND ADMINISTRATION
Office of the Controller
Federal Perkins Loan Office
1906 College Heights Boulevard # 11023
Bowling Green, Kentucky 42101-1023
270.745.5551
Collection Agencies
Placement of Account
Under Federal regulations and under State statute, we are required to place your account with a collection agency when it becomes 120 days past due. Two collection agencies are under contracts. All collection costs incurred by our office in the collection of your delinquent account are charged back to your account.
Our office policy is to accelerate the loan and place the full balance with the collection agency. Once the collection agency collects the full amount, our office MUST be notified. At that time, the promissory note will be stamped paid in full and sent to the borrower.
IMPORTANT NOTE: If your account is with a collection agency, but you believe you are eligible for a deferment, you should:
- request, via this website, a deferment form be mailed to you,
- contact our office by phone at 270.745.5551 to request a deferment form, or write to us to request a deferment form at:
Federal Perkins Loans Office
Western Kentucky University
1906 College Heights Blvd., #11023
Bowling Green, KY 42101-1023
Contacting Your Collection Agency
If your account is placed with a collection agency, you should contact that agency to make any repayment arrangments. Our office cannot set up a repayment arrangement once your account is with a collection agency.
The collection agencies currently under contract are:
National Credit Management
1.800.627.2300Williams & Fudge
1.800.849.9791Conserve
1.800.724.4439
Working with Your Collection Agency
You should not procrastinate in contacting your collection agency. They will try to collect the full past due amount. If you are unable to pay the full past due amount, you can negotiate a monthly payment plan. Remember, if you feel you are in a situation which qualifies for deferment, contact our office. We will assist you in getting a deferment. Once you have an approved deferment, we can then get your account back from the collection agency.
Credit Reporting
All your campus-based student loans are reported to the two national credit bureaus: Equifax and TransUnion. If you have student loans from other lenders, they are also probably reported to at least one of these credit bureaus. Once your student loans go into repayment, you will be building either a positive or a negative credit history.
To contact the national credit bureaus:
Equifax http://www.equifax.com/
1.800.997.2493Transunion http://www.tuc.com
1.800.888.4213Consumer Credit Report
A consumer credit report is a factual record of an individual’s credit payment history. It is provided for a purpose permitted by law: to help a lender quickly and objectively decide whether to grant you credit. Most of the information in your consumer credit report comes directly from the companies you do business with, but some information comes from public records.
Types of information:
Identifying information: your name, nicknames, current and previous addresses, Social Security number, year of birth and current and previous employers. Credit information: specific information about each account such as the date opened, credit limit or loan amount, balance, monthly payment and payment pattern during the past several years. Public record information: federal district bankruptcy records, state and county court records, tax liens and monetary judgments. Inquiries: the names of those who obtained a copy of your credit report for any reason, during the past two years.
