Student Loan in default

Feb 152011
 

I have a student loan that is in default. The original loan was with Sallie Mae default loan is now with the Florida Department of Education.  I am currently in the rehabilitation program, I completed the required payments and filled out all the paper work.

 

The problem is I am now waiting for a lender to buy the loan.  I would like to know if anyone has any insight or experience on how long it would take to get the loan sold.

 

Thank you for any information.

Need help contacting Dept. of Ed via SallieMae for in school deferment on sold fed loans

Dec 052010
 

Five of my federal loans have been sold by SallieMae to the Dept of Ed. According to the SallieMae/Dept of Ed Fed Loan Servicing website these five loans will move out of in school deferment in 27 days. My school has contacted SallieMae to verify that I will be enrolled as a full-time student until April 2011. All of the loans that SallieMae still owns are in deferment until April 2011. However, this info has not been applied to the loans bought by the Dept of Ed which are still managed by SallieMae. The Financial Aid Administer has faxed and mailed the required form three times since August to update this information. I should clarify that I am attending a Canadian university so we are not connected with the standard online system. A few days ago I left an email message with SallieMae inquiring about this situation. I have not received a response yet. I am wondering if anyone has any suggestions. What happens if these loan fall out of in-school deferment while I am still enrolled. The loans are Stafford and GradPlus.

need some help to get some credit

Nov 142010
 

My credit scores are 645, 647 and 650. I have a car note and a secured credit card.

 

 I was just a month ago approved for a mortgage loan (105000). We were trying to buy a house in just my name since my husband is 2.5 years into a chapter 13 bankruptcy. Long story short, the mortgage company could not verify my child support income (which I had to claim to get approved for the loan since they were holding my husbands bankruptcy payments against me) for the required year. I could only verify the past 6 months, because before that the ex and I still had a joint account and the payments went into that account. Since he had access to that account, the mortgage company claimed it couldn’t verify that *I* used the money.

 

So anyway……after the 1st of the year we are going to use hubby’s name also and apply for a mortgage so I don’t even have to claim the child support.

As of right now, I would like to raise my credit score. The only problem is, I can’t get approved for anything!! I tried to get an account with Dell and they denied me. I am trying to get some other type of credit on my report, but I’m at a loss as to what to get. I just went through 3 years of rebuilding my credit to get it where it is now after my divorce. The only thing negative on my report is a late car note almost 2 years ago (less than 30 days).

 

I don’t have a long credit history which hurts me, and outside of my car and the secured credit card, I don’t have anything else.

 

Anyone have any suggestions on what to apply for and what I can get approved for?? TIA!

 

Does taking out Stafford loans affect credit score?

Oct 302010
 

I’m 25 years old and decided to return to school back in January. In order to finance my education, I’m utilizing subsidized and unsubsidized Stafford loans, which currently amount to $11,750. When all is said and done, I’ll have about $30k in student loan debt (mostly subsidized). Exactly one year ago (before I decided to return to school), my FICO score stood at 814. Today, it stands at 734.

 

I was under the impression that Stafford loans did not affect your credit score unless you failed to make the required payments. My payments, of course, are deferred on both the subsidized and unsubsized loans until six months after graduation. I also opted to defer the interest on the unsubsidized loan. Other than the loans, nothing has changed financially. No new cards, no other loans, no late payments, don’t carry a balance, etc, etc.

 

What gives?

trying to understand what to do next, after having a lein filed in error removed?

Apr 082010
 

I had a lein filed in error on a couple acres of ground due to tax issues resulting while my husband was deployed,  We were charged and were not supposed to be. after resolving the issue by going through my state representative they had put it on my credit report. I have the certified letter of satisfaction of lein filed in error and had sent everything to the three CBs and it was only removed from Transunion, I since found out that it is marked as a judgment on the other two and it has been 60 days since I sent them the required info to remove it. What steps do I take next and who should I be talking to about getting it removed,? 

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Now What?

Mar 232010
 

Ok, so I was in credit jail for a loooong time. Magically, I must of hit the required number of years that enacted a credit “do over”.  In other words, I’ve been wiped clean other than 1 collection from a Dr’s office from 3 years ago, in the amt. of $180.  and a car loan I took out in June 2009, which is in excellent standing, paid on time every time.

 

Remaining balance on car loan is approx. $7300.

 

I earn approx. 70,000 a yr.

 

Equifax Fico : 632 ( as of 3/23/10)

TransUnion Fico : 655 (as of 1/14/10)

 

Experian Fico: Screw you Experian, because I can’t get it from you. You can take your “Plus Score” and shove it where the sun don’t shine.

 

Here’s the crux: I have no credit cards, due to the fact that I couldn’t get approved for any for such a long time.  It was a complete surprise to me when I got my free credit reports back in January, and it showed all 3 reports wiped clean ( and still does).  I had been so used to being in the “credit doghouse”, that now I’m not quite sure what to do.

 

On the one hand, My Fico has improved because the slate has been wiped clean.  On the other, it is damaged because it only shows a short credit history.

 

I also show no revolving (cc) accounts.  From what I read, this hurts my score, but If I apply for a cc that too lowers my score. And If I do apply for a cc, I don’t want to risk getting denied!

 

What is my best course of action to raise my scores so that I can eventually get a reasonable mortage within the next year or so?

 

Thanks in advance,

Vikki

 

 

 

 

 

 

 

who is required to have mortgage insurance?

Mar 062010
 

I’m buying a new home. How much insurance am I required to buy?

Feb 112010
 


I have a week off from my house, and also there is no insurance. I just want to know what kind of coverage usually takes.

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