"Denied without the possibility of approval"????

[Sphinx]

Salie Mae Sucks...they wont tell me why I was denied, and why there's no way I'll ever be approved...LOL ouch....there's nothing THAT wrong with my credit...and they wont let me submit with a different co-borrower.??????? (sigh)

so...I'm between a rock and a hard place......

Anyone know anything about financing? good avenues for it "alternatively".?


thanks.

 

[twighead]

i though it was the law that they have to tell you why you were denied. i guess student loans operate under a different set of rules then private loans.

9 times out of 10 it's due to a low credit score, or a simple lack of credit if you're too young. get a copy of your credit report and look for yourself.

if you plan on going to a title IV school, look into federal student loans.

 

[Sphinx]

part 141 schools I'm looking at are accredited...but the fed loans cap at 45K schools are between 65-80K, and once you pull a fed loan, private lenders wont even look at you.

on the other foot, private lenders dont care if you have another private loan pulled. <rolls eyes> go fig.

 

[User_Name]

I got approved for a Sallie Mae loan, then I waited, and waited, and then I signed some paperwork.. and waited, and waited, and called, and waited, etc. It was always something... we did not get your paperwork, we can't read the photocopy of your license, blah, blah, blah. Finally said the hell with it and canceled their worthless loan.

Mine rate was supposed to be prime +1, which turns out to be 8.5%. AOPA has (or had) a program with MBNA for training funds at a fixed 8.99%. I got a line of credit thru them instead which is actually a better deal (the sallie mae interest was variable and it looks like the prime rate will only be increasing over the next year or so). I'd suggest checking out AOPA.

 

[Sphinx]

Thanks for the info Elmo...lol...I'll look into AOPA

 

[AAflyer]

check out www.pilotfinance.com

I have heard good things about them.

Good Luck,

AA

 

[744]

Get copies of your credit reports ASAP. A possible explanation is identity theft.

 

[Sphinx]

Christ...I hope not...It's happened to me before...and takes forever to correct...if that's the case I wont be able to do anything for over a year.

 

[SeanD]

Yes I agree with 744. This happend to me and I got the same response from a certain lending company. Very vague and harsh, almost like they wanted nothing to do with you. I am still negotiating with the bank and it does suck and most banks dont care ( BANK OF AMERICA ) I really hope that isnt what happend to you,lets hope its due to lack of credit because its a long fight to regain your credit stats and a stressful one. Good luck, let us know

 

[Sphinx]

Well...that's it...this country is F***ed when it comes to how easy it is to steal someones identity. There's a bunch of S**T on my report that isnt mine...
Can someone tell me what the hell Boscov's Department is? supposedly I have a credit line in collections with them for over 5K...???????????? oh..here's the kicker... I've lived in 2 states...CA, and NV... but now there's an address in PA??? <sigh> Christ...I think I'm gonna get sick.

 

[SeanD]

ZOIKS ! I would report that right away. How often do you check your credit report? If not often then who knows how long its been there. They will look at the time frame from when it went into collections and the time you called to report it then try to blame you for not paying your bill. If that happens then contact the Better Business Bureu or the Federal Trade Commision and tell them whats up they should issue you a file # and they report direct to the FBI ect. I put every piece of paper with any of my info on it ect through a shredder ( $25.00 ). Did you live in Vegas? If so that is where my problems started. Vegas is the capital of identity theft. Unfortunently I still live there. Good luck man..

Sean

 

[fatdumbandhappy]

Don't go into dedt, pay for your training as you go if at all possible.
Best of Luck.

 

[NW_Pilot]

Don't go into dedt, pay for your training as you go if at all possible.
Best of Luck.

[FONT=&quot]I second that, + I use something better than a shredder I burn all my paperwork! All it take 's is for someone to get your SSN and your a goner also put a credit lock on with the credit reporting agencies that way no credit can be given with out your approval.

[/FONT]Also watch your Drivers License some states use your SSN![FONT=&quot]
[/FONT]

 

[schoolio]

Can someone tell me what the hell Boscov's Department is?

It's a department store, kinda like Macy's or Penney's, in the Northeast/Mid-Atlantic...

That sucks dude...sorry to hear it. Good luck fighting it.

 

[SpartyOn]

Any lender that denies you credit is required to furnish you with a copy of your credit file and the reason why you were denied. If any info on it is incorrect you have to file a dispute with each bureau that has the incorrect information (e.g. TransUnion, Equifax, and Expreian). Under Federal Law each credit bureau that you filed a dispute with has thirty days to prove that the account under dispute belongs to you or they must remove it. On the other hand consider this divine intervention from God to find a new career.

 

[Sphinx]

SeanD: Yeah..I've lived in vegas twice in my life...both times for about a year...and oddly...the same time frame as the BS on my report....<sigh> the investigation process has been started....

FatDumbandHappy: (love that name) That's what I'm thinking too...already in touch with a couple of really cool guys that own a small school in AZ...thanks to Schoolio....!!!

SpartyOn: Thanks for the small bit of legal...I'll keep that in mind with them...

NW_Pilot: SSN on your drivers license...no kidding...Nevada is one of them...They do however offer the option of omitting your SSN from it. F**n' idiots..


THANKS TO ALL FOR THE ADVICE, AND LEADS...

 

[aerobaticspilot]

I would talk to the school you are looking to attend and see if they could talk to the loan company. I had some problems when i first attended school with my loan getting approved i talked to the school and i guess they pulled some strings. Good Luck

 

[744]

Sphinx:

Sorry to hear how it turned out. Best of luck getting it fixed.

It just makes you wonder. My insurance company knew within a week of my wife’s new coverage at her job. The IRS will call if you miss 5 bucks on some 1099. But 10 million illegal immigrants and an entire industry of stealing identities, and nobody seems to be interested in doing anything about it.

Oh well.

dlw

 

[NW_Pilot]

NW_Pilot: SSN on your drivers license...no kidding...Nevada is one of them...They do however offer the option of omitting your SSN from it. F**n' idiots..


THANKS TO ALL FOR THE ADVICE, AND LEADS...

I know I Lived in the dumpy condo's at 4800 Swenson “Chalet Vegas” By the hard rock for about a year! When I first arrived in Vegas I lived "Well Survived & Existed" in N. L.V. for about 6 mo's near Lamb & Bonanza area.

 

[SeanD]

I dont have my SSN on my license, I think you have the option to tell the DMV no SSN.

NW Pilot - That's kind of a rough area of NLV, glad you made it out okay = ) and I know those condos LOL. I lived on Eastern and Sahara at one time ( 2 months ) and had my vehicle broken into 3 times in a 2 week time span.Vegas is getting bad. BTW how do you like ferry flying? What do you fly? Just curious, I may want to look into that someday...


SeanD

 

[Murdoughnut]

Definitely check your credit through an agency - I went to finance a couch a few weeks ago and was declined (despite having excellent credit). Turns out that I was sent to collections on a medical bill that the hospital repeatedly sent to the wrong addresss two years ago (thus I was never aware of the bill). I'm trying to sort it out now, but had it not been for the couch, I wouldn't have known.

 

[NW_Pilot]

I dont have my SSN on my license, I think you have the option to tell the DMV no SSN.

NW Pilot - That's kind of a rough area of NLV, glad you made it out okay = ) and I know those condos LOL. I lived on Eastern and Sahara at one time ( 2 months ) and had my vehicle broken into 3 times in a 2 week time span.Vegas is getting bad. BTW how do you like ferry flying? What do you fly? Just curious, I may want to look into that someday...


SeanD

Yea, I was livin on the streets back then In NLV! A friend on mine was the one that took toto out of the MGM about 10 years ago, if it was not for Vegas I would not be where I am at today! ferrying airplanes is fun, always different airplanes. This weekend I am flying a PA32 300 from PSC to F45. I Really like the ones that I have never flown before the most. This month has been slow but was good in Oct to Jan

 

[machaf]

Try Citibank. I got about 60k from them.

 

[meyers9163]

So what were your rates with Citi? just wondering, also did you try with Sallie Mae first? Also what kind of loan was it? I'm just curious incase I cannot get the Sallie mae loan to cover all of the training. I got approved for 12k alone without a co signer which i was happy about but I just want alternatives.... Do not want money to be the factor keeping me from doing my training....

 

[Sphinx]

Vegas: Have lived there 2x...both for about a year...it seems it's all I can handle at one shot.
first time was out in Summerlin off of Charleston, the second and most recent I was up in Silverado Ranch off of Silverado, and maryland pkwy.

 

[mddg3581]

Try Key Bank

 

[schoolio]

Try Key Bank

Key will only lend if you are attending a Title IV accredited school.

 

[F16fixer]

I don't know what the other rates are at this time, but Sallie Mae is sticking me with 9.75% interest right now. Started at 7% a couple of years ago, and has just gotten worse. They don't offer a fixed rate, so there was nothing I could do about it. Go get a construction job for a year ,and work your ass off and save up the money. Cause once your in aviation up to your neck and not making any money, there 's no way out of the debt! I have around $19,000 left and paying a little over $200 a month. Do the math. Not much is going to the principle.

JUST MY .02

 

[taters]

I don't know what the other rates are at this time, but Sallie Mae is sticking me with 9.75% interest right now. Started at 7% a couple of years ago, and has just gotten worse. They don't offer a fixed rate, so there was nothing I could do about it. Go get a construction job for a year ,and work your ass off and save up the money. Cause once your in aviation up to your neck and not making any money, there 's no way out of the debt! I have around $19,000 left and paying a little over $200 a month. Do the math. Not much is going to the principle.

JUST MY .02

thats $84.16 to interest per month = gay