sallie mae
Internet
United States of America
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sallie mae modifying contract Internet
*Consumer Comment: No
1Author
1Consumer
0Employee/Owner
First off I would like to warn people before obtaining a loan from sallied Mae. They charge a fee for dispersing money, then they charge a fee when your loans go into repayment. If you need a deferment of payments they charge you another fee.
My situation I had applied for a private student loan with my mother as a cosigner in 2009. I left school in 2010 in December of 2010 I filed for bankruptcy chapter 7. When sallied Mae caught wind of my bankruptcy they removed me from the account (i could no longer service the account and when I would call they had no record of the account under my ssn). My bankruptcy cleared march of 2011. I just received a letter saying since my bankruptcy cleared and their account was not discharged I am again responsible for the loan. My question is since they took me off the contract wouldn't I have to sign a new contract? Or can they edit contracts as they see fit?
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REBUTTALS & REPLIES:
1Author
1Consumer
0Employee/Owner
Updates & Rebuttals
#1 Consumer Comment
AUTHOR: Robert - Irvine (U.S.A.)
SUBMITTED: Tuesday, May 10, 2011
POSTED: Tuesday, May 10, 2011
Except in very limited circumstances, student loans are not dischargable in Bankruptcy. To discharge a Student Loan you have to go through additional steps. Although in your case even if you had the loan was discharged in your Bankruptcy, since it was co-signed your mother would be the one who is solely responsible.
During Bankruptcy loans are handled differently and the contract was never really "changed". So in short you are still responsible for the loan. This is something your laywer should have explained to you.
