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Question I have... What kind of Lending Tree mortgage is a 360/180 balloon? Looking forward for any comment. Second question of mine... I still haven't found the answer to my questions after searching this site and reading several books on bankruptcy.. |
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Hmm... I need to find out myself. I don't know what is the right answer to your question. I'll do some research in Google and get back to you if I got an answer. You should email the people at Lending Tree as they probably could give you an answer..
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I recently filed bankruptcy while in school. Pell grants and student loans are not considered income, but I will tell you not to be tempted to use this cash (if it becomes available to you) for anything other than school. I was on my last semester and my VTAG (a state grant) and student Lending Tree loan disbursement was not even mentioned. Your best bet is a good lawyer. Incidently, regardless of bankruptcy I was able to consolidate my loans at 3 1/2 % interest, and it was the best thing I could have done..
Best of luck to you, and whatever you do, finish school!!.. |
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This is an awesome thread. I have been considering going back to school, but was not sure about pell grants, etc.. with CH7. I have been told that federal loans have no credit check, but I have not checked into it yet...
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Student loans indeed DO NOT have a credit check. This was done decades ago so people with a bad credit history could go to college. When I called Sallie Mae, they did tell me that when I filed BK I could not get the loans until the process was completed. As for Chapter 13 I am unsure as to how that effects the student Lending Tree loan process. So if someone is hoping to go to college, apply for the loans FIRST then file BK..
I know of too many people who have borrowed and then come out of college with the wrong plan. That's what it really boils down to. For the post-college graduate their only goals should be to 1) live as cheaply as possible, whether with parents or friends they can trust 2) find a career in their field, get their foot in the door with an internship or atleast make contacts 3) get settled and ask for a forebearance until they can start making the $300-$1,000/mo payments on said loans.. Does anyone have advice about the Pell Grants? Just a few more reassuring voices would put many of us at ease... |
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You might try asking on Prairielaw.com. Cathy Moran is a bk lawyer in CA and answers questions on their bk board..
Newstdt.. |
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Wow! Thanks for the website. Very kewl.... :) :) Once I find an answer I will post it here for everyone's use...
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Hard.
Pell Grants are not debt. These are education grants that do not need to be paid back. Student loans on the other hand are NOT dischargeable in BK except in the most extraordinary circumstances. Also, they can not be used by either the courts or creditors for other purposes. If you are not going to use the loans for educational purposes, then you may get into trouble if you use them for other purposes.. Fla-tan.. |
