Private student loans after BK

[pw8234]

Hello all:

Does anyone know of any lender(s) out there who would offer private (non-stafford) loans to someone (me) who filed ch 7 two-and-a-half years ago?

Thanks.

[Dawn1970]

Have you tried Sallie Mae?

[pw8234]

Not yet. I'll give them a call. Thanks.

[Dawn1970]

www.salliemae.com They offered me a loan if I had a co-signer and I had just been discharged a month ago. But just because they wanted a co-signer for me doesn't mean they wouldn't loan to you without one, if you're 2+ years out from your discharge. Good luck

[paulka]

I you want my advice... avoid them at all costs. The laws are all up in the air regarding these right now, and truthfully, they're HORRENDOUS. If you apply for one, read the terms over carefully. If the promissary note is ambiguous, tell them it is unacceptable and you want to know the EXACT terms of the loan you are about to borrow. What are the forebearance options? Is the interest rate variable? BE SAVY!!! Private student loans can be pretty lethal IF you don't act as your own advocate.

[lrprn]

Paulka, you are a new member so please take time to read the Forum rules - the link is posted at the top of every forum folder. One of the rules is not to post on old threads like this that have been inactive for more than a few months. The people here are long gone and will never see your advice. Also some of the information in old threads like this one can be inaccurate since the US bankruptcy law changed in Oct 2005.

In the future, please share your good advice by starting your own new thread. Thanks and welcome to the forum!