yes, with the exception of a student loan (although its possible, the standard is so tough that most attorneys simply state they are not dischargeable). Also, if the lender was a secured lender, the loan will be discharged but NOT the lien.
no. you will have to consolidate separately. with a federal lender then a private lender.
Depends on how long the loan had been in repayment, whether or not it was insured by a non-profit. Please note that most federal loans are issued by private banks and INSURED by the government.
Sometimes private student loans can be consolidated depending on certain factors including the rules of your lender, whether you are in deferrment or default and your credit score. You cannot however, consolidate federal student loans and private student loans together.
Yes you are.
Private student loans are not due immediately after graduation. The loan terms can differ from state to state and details can be obtained directly from the lender.
You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.You need to discuss it with your lender. The present mortgage would need to be discharged and the new mortgage executed if the lender agrees.
A private student loan is like any other private loan. Each private lender will determine what qualifications they require the student to meet before they will lend out their money. Some lenders will want some form of collateral and others will base their decision solely on the student's ability to repay the loan.
OP here with more details: the private student loans they are cosigned on are current/paid on time, but other private student loans (with the same lender) are about to default. Can this in any way cause problems for my cosigner?
A private loan lender is a lender that is acting on behalf of a privately owned organization or business, as opposed to a government regulated or non profit lender.
Student loans are issued by private lenders whose qualifications may differ. Probably not -HOWEVER- check with your lender.
Only if it's part of the terms of your alternative student loan. Read the loan agreement or ask your lender. There is no law that requires the lender of a private/alternative student loan to offer you that option, and alternative student loans in general have none or very limited deferments other then in-school.
WWW.AESSUCCESS.ORG that is the new lender, not Bank of America (anymore). So from now on you will be paying bills directly to them.
FinAid is actually not a student loan lender. It is simply just a website that gives potential students advice on how to apply for financial aid. There is a note in the article that mentions that as of July 1st, 2010, private lenders can no longer make federal loans.
When looking for student loans many students choose private loans with Chase and FinAid or a local business. This varies from student to student based on personal scholarships, credit, financial aid, etc.
Sallie Mae (as it is correctly spelt) is the name of the largest private student lender in the United States. Sallie May owns nearly 20% of student debt in the country.
It won't affect the lender's lien position but their policy. Most lenders won't close the loan if the bankruptcy has not been discharged. If you have been given the discharged paper, you can give a copy of it to the lender and the title company so that they have it in their records.
The borrower should contact the lender as soon as possible and try to find an equitable arrangement to catch up on missed payments. If the lender is not agreeable to such, foreclosure proceedings will likely be implemented.
"There are several ways one can get a consolidation loan. In the United States, there is a Federal student loan consolidation program that allows students to consolidate Stafford loans, PLUS loans, and Federal Perkins Loans into a single debt. One can also attain a consolidation loan through a private lender. However, the terms vary from lender to lender such as forbearances and deferments."
In most states, you must 18 or older to enter into an agreement with a private lender. However, you only have to be 16 to qualify for federal student aid, including federal loans.
When you have asked your lender to consolidate your student loans and they refuse, you can look for a company that will work as a liasion between you and a prospective new lender. Due to investors not investing in student loans the majority of lenders have stopped consolidating federal loans. Student Loan Gal at www.defaultms.com
If you are trying to get a federal loan, you will not have a problem. If the loan is private, you may have trouble finding a lender.
Only if the lender agrees to lower the amount due, remember that the BK discharged the promissory note; there is no legal mechanism to force the lender to lower the amount due (you are in a very weak bargaining position). If you dont make the full payments the lender is entitled to repossess the car.
One can learn more about a lender's credit source from websites such as Buzzle, Private Mortgage Lending and Private Money Lenders UK. One can also learn about it from Private Loan Lender website and Yahoo website.
Government guaranteed student loans are not predicated on one's credit; private student loans are. The interest rate is based on the credit worthiness of the borrower. If the borrower has sterling credit, he/she will be eligible for the banks lowest rate; applicants with slightly flawed credit will pay more. Applicants with poor credit won't be able to borrow on the program. There are many "private student loan" programs offered by major lenders. The lender determines its rates and lending policies.