Thanks for the clarification kellbell. You are correct and from what you have been told, NO, you can not file bk on student loans. The only way student loans are forgiving is if you are demised, permanently disabled, if the school falsified information, or if the school closed down and you were not able to finish. Other than that, they will find you and haunt you down for the rest of your life.

Hi KellBell! Thanks for the info. I have Salle Mae on 2 of my student loans, but Chase has the rest. I am going pay them seperate because I will loose if I consolidate them. When student loans seperate on the account, the cb will reconize them as one. If there is a default and somene else purchase the loan, then yes it will look like it is split many of times. I am going to get automatic debit from my checking account so that I can take advantage of a cheaper rate. I know the feeling of defaulting on a student loan because I have done so in the past. I am going to clear all my credit cards soon because I can not afford to pay on student loans and cc's too.

I wrote that wrong! I meant that I defaulted on all my credit cards, but NEVER defaulted on my student loans. I always made sure they were in good standing and that saved my FICO life! Because I always made sure my student loans were in good standing, it looked as though I had more accounts in good standing than the 6 charge offs I had. 23 good accounts from Sallie Mae vs 6 bad charge off accounts...my FICO never dropped below 550...

POINT BEING...PAY YOUR STUDENT LOANS. They never go away, you cannot declare them on BK (I have been told), and I hear the consequences of default are astronomically tragic.

Anyway, my mother defaulted on her loans and the baddies never went away. HOWEVER, when she did the rehab thing- nine (9) consecutive months of on time payments, they erased all her baddies, consolidated the entire debt into one $31,000.00 installment loan. So if you are in a student loan repayment bind, there IS hope for the future.

~KellBell (A.k.a. Kellyn)

I know one thing, Chase is about to make me not deal with them. OK, I was conditionally approved for the $7k I asked for right. Every time I send them documents they keep coming back with, "We need this, or We need that!" It takes my school over a week to hand me my verification of enrollment, which I gave them in June for proof of Spring 08 completed classes. Now they are saying they need proof of a balance from Summer 08, "Excuse me Chase, like I said before, I did not enroll for summer classes and I will not be able to enroll for Fall until July 21, 2008"

Now they are asking for a change to the master promissory note for Fall 08 instead of Spring and Summer of 08. I did that, then they turned around and said, "Info not accepted". Now I am really ready to peal their caps. So I called and told them again, "Excuse me Chase, like I said before, I have no balance from Spring because YOU paid for it (through Fed Student Loans which is a totally different department) and I did not attend school in the Summer."

Well guess what, your approval only last for 90 days, I applied May 21, 2008, and now they are telling me to just send them my Fall Class schedule and I can do it on line as long as the school website is at the bottom of the print page. I sent that to them Monday and guess what? They sent me another message saying the same !$@#*^! again, "Info not accepted, we need your full name in the print page of the website." Being that I am in a happy mood, I went on line and sent them the page they are looking for and faxed my school another proof of enrollment form as a back up.

If they run me around one more time, I am going to tell them to kiss me where the sun don't shine and i will go to another Bank to finance this education of mines. By the time they are finished, the classes are going to be filled up and I wont stand a chance for the Fall courses.


Has anyone used a Private Student Loan before? If so please put your story in here so I can read it. Thanks!

Thanks you two

You're welcome.

Meya, I don't know much about student loans but I do agree 6 months is not very long to get a job, much less one that you can make a living and pay off student loans. I wish you good luck

Thanks you two!

All you ex-students who have to repay your student loans...pay them. First of all, student loans are dispersed as many different installment loans on your credit report. Even if you have only 1 payment. That 1 payment s dispersed by your servicer to the many different accounts. So when every other account I had was defaulted, it still looked as though I was paying on 23 accounts. As a result, even with the charge offs and collections I had, it still looked as though I had more accounts in good standing than in bad standing. And let me tell you that my student loans are as long as my credit history. They date back to 1999 when I first enrolled at college. So this helps immensely! In fact, Capital One issued me a card when my FICO was in the dumpster...they issued me credit based on my Sallie Mae payment history.


Sallie Mae works with you. My student loan payment was WAY too high so after I put them in forebearance, deferred them for a year, and every other way to hold off payment to them, I went on income-sensitive. My payment is under $100.00 and I still owe $14,000.00.

Now Sallie Mae, FIA Card Services, and Bank of America have a joint venture in marketing to people who pay their student loans on time. They make offers not based on FICO, but on recent, good-standing installment loans and credit lines.

So no matter what, PAY THOSE STUDENT LOANS. It saved me 1000 ways to Christmas!

Hi KellBell! Thanks for the info. I have Salle Mae on 2 of my student loans, but Chase has the rest. I am going pay them seperate because I will loose if I consolidate them. When student loans seperate on the account, the cb will reconize them as one. If there is a default and somene else purchase the loan, then yes it will look like it is split many of times. I am going to get automatic debit from my checking account so that I can take advantage of a cheaper rate. I know the feeling of defaulting on a student loan because I have done so in the past. I am going to clear all my credit cards soon because I can not afford to pay on student loans and cc's too.

Wants is what will hurt you when you have a tight budget.

I hear people talking all the time, oh I have to get this or oh I have to get that and I am looking at them like huh

All you ex-students who have to repay your student loans...pay them. First of all, student loans are dispersed as many different installment loans on your credit report. Even if you have only 1 payment. That 1 payment s dispersed by your servicer to the many different accounts. So when every other account I had was defaulted, it still looked as though I was paying on 23 accounts. As a result, even with the charge offs and collections I had, it still looked as though I had more accounts in good standing than in bad standing. And let me tell you that my student loans are as long as my credit history. They date back to 1999 when I first enrolled at college. So this helps immensely! In fact, Capital One issued me a card when my FICO was in the dumpster...they issued me credit based on my Sallie Mae payment history.


Sallie Mae works with you. My student loan payment was WAY too high so after I put them in forebearance, deferred them for a year, and every other way to hold off payment to them, I went on income-sensitive. My payment is under $100.00 and I still owe $14,000.00.

Now Sallie Mae, FIA Card Services, and Bank of America have a joint venture in marketing to people who pay their student loans on time. They make offers not based on FICO, but on recent, good-standing installment loans and credit lines.

So no matter what, PAY THOSE STUDENT LOANS. It saved me 1000 ways to Christmas!

Wants is what will hurt you when you have a tight budget.

We have to separate our wants and needs.

Bingo now there you go. People need to understand between their wants and needs. Needs are a necessity, Wants are a just because.

We have to separate our wants and needs.

Yes that is why we have to be so careful with everything

The declining economy is putting everyone in a bad situation financially.

6 months is not enough sometimes it takes longer

Meya, I don't know much about student loans but I do agree 6 months is not very long to get a job, much less one that you can make a living and pay off student loans. I wish you good luck.