student loans

Yes there are consolidation loans for private loans....however they are very difficult to get if you do no have perfect credit.

Bankruptcy...basically no. There are very limited circumstances that you can file bankruptcy on student loans, like undue hardship. However the most the courts are using the Brunner test

Hello wonderful Soaplady and congrats on your HOF.

I went through alot of old records today on trying to find old student loan info. I found so much. Reasons why things happend, even reciepts of payments, to whom, etc. I also found who has my loan, etc at the moment.

My question to you Soaplady is what is the difference between a Lender and a Guanteer? I have copied/pasted my info. here from the Federal Student aid website. Sorry, its jumbled up here, not sure how to seperate it. I also found a document of a Chapter 7 that included this student loan in 1991. At this moment I am not sure what to do and I turn to you for direction. Please help Soaplady.


Next Type of Loan: 1 STAFFORD SUBSIDIZED
Loan obtained while attending the CDI CAREER DEVELOPMENT INSTITUTE

Date Entered Repayment: 04/17/1986
Loan Period Begin Date: 04/01/1985
Loan Period End Date: 10/01/1985

Amounts and Dates Loan Amount Outstanding Principal Balance Outstanding Principal Balance As of Date Outstanding Interest Balance Outstanding Interest Balance As of Date Interest Rate Canceled Amount Canceled Date
$220 $0 04/17/1998 $0 04/17/1998 FIXED $0
Disbursement(s) and Status(es) Disbursement Date Disbursement Amount Loan Status Status Description Status Effective Date
08/27/1985 $220 PM PRESUMED PAID-IN-FULL 04/17/1998
UI UNREINSURED 01/15/1991

Servicer/Lender/Guaranty Agency Information Contact Type Contact
Current Lender: IDAPP
1755 LAKE COOK RD
DEERFIELD
IL 600150000

Current Guaranty Agency: ILLINOIS STUDENT ASSISTANCE COMMISSION
1755 LAKE COOK ROAD
DEERFIELD
IL 60015
800-899-4722
www.collegezone@isac.org www.collegezone.com

For FFELP loans, the lender is generally a bank or credit union or even Sallie Mae in some cases. Some service their own loans, others sell them to Sallie Mae or other servicers to maintain.

Your guarantor is one of the following state or regional guarantors....if you default, they pay the default claim and then come after you.
AES - PHEAA FFELP Guarantor Code (ED Assigned) 742 AES - PHEAA View
Alabama Commission on Higher
American Student Assistance
California Student Aid Commission
College Assist FFELP Guarantor
College Access Network
Connecticut Student Loan Foundation View
Delaware Higher Education Loan Program
ECMC
Education Assistance Corporation
Finance Authority of Maine
Florida Department of Education
Georgia Higher Education Assistance Assistance Corporation
Great Lakes Educational Loan Services, Inc.Services, Inc.
Illinois Student Assistance Commission
Iowa College Student Aid CommissionView
Kentucky Higher Education Assistance Authority
Louisiana Office of Student Financial Assistance
Michigan Department of Ed Guaranteed Student Loan
Montana Guaranteed Student Loan Program
MOSTARS
New Hampshire Higher Education Assistance Foundation New Jersey Higher Education Student Assistance Authority
New Mexico Student Loan Guarantee Corporation
New York State Higher Education Services Corp
North Carolina State Education Assistance Authority
Northwest Education Loan Association
Ohio Student Loan Commission
Oklahoma Guaranteed Student Loan Program
Oregon Student Assistance Commission
Rhode Island Higher Education Assistance Authority Education
South Carolina Student Loan Program Student Loan Fund of Idaho, Inc. Student Loan Guarantee Foundation of Arkansas Foundation
Student Loans of North Dakota
Tennessee Student Assistance Corporation Texas Guaranteed Student Loan Corporation
USA Funds
Utah Higher Education Assistance Authority Vermont Student Assistance Corporation Virginia State Education Assistance Authority

Thank you Soaplady, as always. Yes, it is the Illinois Student Assistant Commision (Guaranty))

With this infomation that I posted here, do you think that I may qualify for a payment plan with the DOE? It is a Subsidized Stafford Loan. One more question, as I stated above, ..back in 1991 I filed chapter 7 and I believe this document I found today proofs that I included $1,900 of which was left of my student loan in that Chapter 7. Would not that be the end of this in 1991?

In order for your loan to be have been included in a BK prior to 1998, there had to be 7 year between when the loan became due and the filing of the BK. What year did you borrow these in?

The year was 1985 (I also have that info. on my initial post). I filed for Chapter 7 in 1991.

So you would have not met the seven year rule so it would have been nondischargeable.

I wished I could show you this Bankrupcie "Assignment" document from my Chapter 7. It clearly shows IDAPP/CSX in Florida as listed and the date is 1-7-1991. Wished I could scan it and send it to you in a private message just to see what you think about it. I realize that you may or may not be an attorney, but you are the best here.

It is a requirement when you file BK that you list all debts.....however listing them doesnt mean they are included in in your BK. When your BK is discharged, the wording of the discharge is "all dischargable debts are discharged." Student loans are nondischargeableunder the BK code .

I was an attorney in Canada....many many years ago.....

I knew it, you are the best. Im not sure what this document is, I am glad I kept it. It has my BK number on it, dated 1/7/1991, IDAPP/CSX 6420 Southpoint PKWY Jacksonville, FL. It is signed by Iillinois Student Assistance Commision and my student loan debt at that time of $1,967.52.

Wished I knew what this was.

Just want to say Happy Thanksgiving to everyone. I am thankful for Soaplady because I beleive that she can help me with the above post, and I am thankful for all of you.

Isn't a Student Loan, on of those 'Governement -Type' loans that they can take from your Tax Refund, until it's paid off? I have a student loan and I ahd it in 'default' for a while. It took a LONG time to get it out of 'default' to a 'current' status. I have mine through AES.

hum, what is AES?

A repost for the incredible Soaplady. Please help.

I knew it, you are the best. Im not sure what this document is, I am glad I kept it. It has my BK number on it, dated 1/7/1991, IDAPP/CSX 6420 Southpoint PKWY Jacksonville, FL. It is signed by Iillinois Student Assistance Commision and my student loan debt at that time of $1,967.52.

Wished I knew what this was.

It is probably acknowledging the bk stay....wont really mean much of anything.

Thanks once again Soaplady. It is just good to have something from that time frame. I might need that document someday. I am just afraid to call the IDAPP (guarenter) to see what is going on, how much I owe, stop the CA's (if any?). At least I have letters, reciepts, etc.

Soaplady, here is an honest question. If you took out a Federal Loan (which is now a Subsidized Stafford Loan) at a bank in 1985 for $2,200 and went into default the next year, and since then have been paying on it off and on for 23 years (due to some extreme hard times), have proof of the same...what would you do?

I am just so confused and really, really worried that I cannot afford this. I understand that I owe this money and probally alot, and I want to do the right thing, it is just that I do not know what. If only I can get into some type of payment plan that I can afford.

Please help, agian,
Luke

Just an Update and requesting a response to the above post.

Wishing you all a Happy Holidays,
Luke

Luke, I cannot tell you what to do. You have to call and find out what they can offer you based on what you owe.Putting it off is not going to help....it is only costing you more.

I thank you Soaplady, but that is just it, I do not know who to call to get this started.

Thank you and Happy Holidays,
luke

1-800-4FEDAID .... they will tell you who to call.

Thank you SoapLady, your the best.

I wish you and yours a Happy and Safe New Year.

filed ABT form to disqualify my loan, because I never recieved my certificate from a trade school, I recieved two loans for twenty five hundred dollars a total of five thousand. I was never tested with a ABT test, did not have a high school diploma, or received one before graduation, I completed all course, but did not receive the degree of applied science, due to the schools non compliance of obtaining my GED- I have been denied from the us dept of education because they claim my disburstment dates fall before January 1 1986, can I hire a lawyer for a lawsuit against the goverment ed.

Did Ed do anything wrong? Or was it the school? Ed has no liablity in this case...they were just the lender.

Even though I was making monthly pmts they sold my school loans to diffent collection agentcis who inturn increased it by an additional 10 thousand dollars, all that I pd into it was all for nothing, can I file this on chapter 7 its now w/Account Control Technology Inc.

No...your loan was NOT sold to different collection agencies...your guarantor PLACED it with agencies. You were charged 24% in collection costs ONCE per federal law plus your interest is still accruing.

No you cannot file bankruptcy on student loans.