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Thread: So much for me getting a house

  1. #1
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    I knew it was too good to be true












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  2. #2
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    What happened?
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  3. #3
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    stupid, stupid student loans. They have been nothing but a problem for me this entire process.

    I borrowed all of my student loans from the US Dept of Education. However, Dept of Ed seems to send these all over the place to be "serviced". So, I have to fill out forms and try to keep things straight with several banks that I personally never did business with. ok, thought I had done a good job keeping up with that.

    Not so. There is a $4000 student loan that has been charged off. How? No idea. I never received anything about it and didn't know a thing about till we started this pre-approval loan process. Well, this charge off will actually fall off of my credit report next year. So everyone tells me to just let it go. Ok.

    NOW I am being told that I need to pay it in FULL by Nov 17th or I can't get the house.

    hahahaha cause I have that sort of money lying around. And I can't borrow money from anywhere cause the home loan people will freak out.

    oh and another problem we had with my credit score.....apparently last year I was late with my payments on my student loans. But that is NOT true. I've NEVER been in repayment, I have always been in deferment. So, how can one be late on a payment that has never been due? Apparently the credit bureaus and the banks will NOT remove this from my credit report either.

    Supposedly student loan debt is the best debt to have. I disagree at this point












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  4. #4
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    Im so sorry Johnie





  5. #5
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    Oh, I'm so sorry!

    That saying about student loan debt is BS. I figure with my student loan debt I will be renting forever.

  6. #6
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    Apparently I will too












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  7. #7
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    That's really really sucky. I don't know what to say to you- is there no appeals process for your credit report?
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  8. #8
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    Nope already did that and they kept it on












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  9. #9
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    I wish I could be of more help but I don't know anything about how they work in the US. In the UK a student loan isn't counted as part of your credit report I believe.
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  10. #10
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    Sorry to hear that Johnie :(

    Quote Originally Posted by josh.p., post: 236813
    I wish I could be of more help but I don't know anything about how they work in the US. In the UK a student loan isn't counted as part of your credit report I believe.
    It is but there are two oddities with it

    1) having a student loan is often ignored because it's kinda "there" and is often deferred until earning enough. So lenders often don't take it into account

    2) it's deducted direct from your salary once you earn enough even if you don't tell them you're working :) they catch up. So defaults are low as you can't avoid paying it back!
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