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Is this the right thread to ask about identity theft/fraud? I just finished paying off my student loans, so I took out a credit report to make sure everything was clean. Turns out one of my relatives took out a private loan with AES and listed herself as the cosigner to pay off her mortgage. She admitted to doing it, so what can I do to get it out of my name and credit report?
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Mar 6, 2015 03:01
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null gallagher posted:Is this the right thread to ask about identity theft/fraud? Have your relative pay it off entirely or file a police report. There are no other options.
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Mar 6, 2015 03:09
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canyoneer posted:Have your relative pay it off entirely or file a police report. There are no other options. I was afraid that'd be the case. Sucks, but confirmation is good. Does statute of limitations affect anything here? This was taken out in 2007, when I was 17.
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Mar 6, 2015 03:13
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null gallagher posted:I was afraid that'd be the case. Sucks, but confirmation is good. Does statute of limitations affect anything here? This was taken out in 2007, when I was 17. Federal loan, right? Do you mean statute of limitations for prosecution of your relative, or for the loan continuing to exist? Not sure about the former, but on the latter, if you do not dispute it and do not pay it, it will never go away. http://www.consumer.ftc.gov/articles/pdf-0119-guide-assisting-id-theft-victims.pdf Sounds like getting it sorted out will be horrible. You'll probably need some professional help. Good luck.
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Mar 6, 2015 03:50
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canyoneer posted:Federal loan, right? Do you mean statute of limitations for prosecution of your relative, or for the loan continuing to exist? Not sure about the former, but on the latter, if you do not dispute it and do not pay it, it will never go away. Private, Chase serviced by AES. She's been paying the loan back, and said she'd take out another loan to immediately pay this one off. In that case, is it worth disputing it? If she doesn't actually do that, I should have documents proving that I got grants covering my tuition when the loan was taken out, and that I was living at home then (so no expenses requiring this $11K loan). That'd help with proving I didn't take it out, at least. I'll read the FTC guide after work tomorrow or something. This is pretty stressful.
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Mar 6, 2015 05:11
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If it's never been delinquent then maybe just let the relative get it paid off asap and warn them against doing this again if you like them. If they've been delinquent then maybe it's been long enough that you can consider your options. If you don't like them then... I dunno
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Mar 6, 2015 05:19
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Wickerman posted:If it's never been delinquent then maybe just let the relative get it paid off asap and warn them against doing this again if you like them. She's making regular payments, but on schedule she'll be making payments until 2025. Says she'll be paying it off ASAP, so first option sounds like what'll hopefully happen. Thanks  .
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Mar 6, 2015 05:22
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null gallagher posted:She's making regular payments, but on schedule she'll be making payments until 2025. Says she'll be paying it off ASAP, so first option sounds like what'll hopefully happen. Thanks In the bad with money thread goons would literally tell you to have her thrown in jail, but family isn't random stranger. If she can get a different loan that doesn't involve you to pay if off and your not in delinquency, that might be best. If that's as bad as it gets, a huge apology doesn't make up for it but better be coming.
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Mar 6, 2015 06:46
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MJBuddy posted:In the bad with money thread goons would literally tell you to have her thrown in jail, but family isn't random stranger. If the circumstances were different, ie the relative took the loan and then never paid it, then I would probably suggest a legal resolution. Yes, it is family, but to get in a situation like this it requires one party to (somewhat) disregard the financial welfare of the other, for personal gain. Not really considerate. I don't want to open a can of worms by stating that viewpoint, I just wanted to illustrate that I think the circumstances of this particular situation seem to permit the best outcome to be the non-legal variant.
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Mar 6, 2015 07:11
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Wickerman posted:If the circumstances were different, ie the relative took the loan and then never paid it, then I would probably suggest a legal resolution. I don't think a big family hug is the corner solution. I hope it works out in this case, given the details. But if I found out my mom had done this to me? I'd probably just be really sad about it and help her pay it off. If I found out my cousins had done it? I'd be in their living room yelling and dishing out ultimatums. I get that everyone's family situation is different, and I'd actually feel worse about my mother doing it than my cousins, but with family I pause first to consider if a life without those people would be like, because this type of stuff can lead to complete sever even from their side. I could live without seeing my cousins again. In fact that's a holiday side quest of mine every year.
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Mar 6, 2015 07:42
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It was my grandma, actually, who's basically been my mom (died when I was a kid). She says she's going to take out another loan in her name to pay it all off ASAP. Repaying the one in my name would keep my credit clean, right? That's acceptable to me. Acceptable as in not worth going to the cops over. I doubt I'll ever speak to her again after I move out (it sounds like if she died before repaying it and I never found out about it, I would've been up poo poo creek without a paddle), but that's something to talk about with a therapist.
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Mar 6, 2015 13:50
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null gallagher posted:
Most likely. It might even technically improve your credit if she hasn't missed any payments.
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Mar 6, 2015 15:05
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navigation fucked around with this message at 07:10 on Oct 24, 2021 |
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Mar 8, 2015 21:51
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Cloaked posted:I'm surprised that I haven't been able to figure this out online, so I figured I'd ask here - if I want to help pay off a Parent Plus loan that my parents took out for my education, how does that work? Is it essentially the same as if I was gifting them that money, tax wise? You can gift each parent $14,000 this year, so if you're single and have 2 parents, write two $12.5k checks (in your example of 25k) to the loan company. If you're married, both you and your spouse could do 14k/each spouse/each parent, for a total of $56k this year.
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Mar 8, 2015 22:18
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I graduated law school in '08 with about half my debt in 6.8% fixed rate loans, and the other half in 2-3% interest variable rate loans. I put the 2-3 interest rate ones on longer payment plans and focused on the 6%+ ones, which will be paid off within a month or so. With that in mind, what's available to me in terms of consolidation? My loans have been transferred several times, so my 4 discrete loans are between Navient, Discover, and Citi. Also, the payment terms on them vary - I'd like to keep them to a 10 year plan (that i'm 6 years into) rather than the 15/20 year plans that two are on. Is this something that can be done, or am I going to be stuck with a new, fixed rate, 10 year loan that I'll just have to make double payments on?
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Mar 11, 2015 18:15
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mastershakeman posted:I graduated law school in '08 with about half my debt in 6.8% fixed rate loans, and the other half in 2-3% interest variable rate loans. I put the 2-3 interest rate ones on longer payment plans and focused on the 6%+ ones, which will be paid off within a month or so. With that in mind, what's available to me in terms of consolidation? My loans have been transferred several times, so my 4 discrete loans are between Navient, Discover, and Citi. Also, the payment terms on them vary - I'd like to keep them to a 10 year plan (that i'm 6 years into) rather than the 15/20 year plans that two are on. Is this something that can be done, or am I going to be stuck with a new, fixed rate, 10 year loan that I'll just have to make double payments on?
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Mar 11, 2015 18:44
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mastershakeman posted:I graduated law school in '08 with about half my debt in 6.8% fixed rate loans, and the other half in 2-3% interest variable rate loans. I put the 2-3 interest rate ones on longer payment plans and focused on the 6%+ ones, which will be paid off within a month or so. With that in mind, what's available to me in terms of consolidation? My loans have been transferred several times, so my 4 discrete loans are between Navient, Discover, and Citi. Also, the payment terms on them vary - I'd like to keep them to a 10 year plan (that i'm 6 years into) rather than the 15/20 year plans that two are on. Is this something that can be done, or am I going to be stuck with a new, fixed rate, 10 year loan that I'll just have to make double payments on? There are a lot of lenders out there now...I'm in the same boat and it seems like the market has come back since everyone bailed out of the consolidation business in 2009 or whenever. I'm currently entertaining an offer from https://www.sofi.com. They came up on a few searches and they have pretty low rates compared to other options. They offer 5 year terms for both variable and fixed products. SiGmA_X posted:Why would you care about the duration of the loan? Wouldn't you simply make a fixed amount payment regardless of min payment? Like you do with a mortgage or credit card? Set your budget and go from there... Interest rates go down as the term goes down. He's getting screwed out of a lower rate by taking a longer term loan that he doesn't need. The flip side of that is if he takes a shorter term consolidation and finds himself in a sticky financial situation, the minimum payment will be higher so he doesn't have the option to stop overpaying and just pay the minimum.
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Mar 11, 2015 22:44
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I need a loan to pay off tuition for a quarter of classes that I've already taken. Since I only need about $5k, I'm not even sure if a student loan would be my best option. My credit score is quite good, something like 700-750 for all three bureaus. My options for private loans are limited as well since many places will not offer loans for classes already taken. I could pay off this entire loan in one year, conservatively, and I'm mostly interested in paying the least amount of interest possible. I don't even know where to begin. What route should I take here? Could I just get a personal loan from a credit union or bank for a low variable rate that increases after 12 months or something similar? I'm afraid I'm in over my head here.
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Mar 12, 2015 06:05
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A Bag of Milk posted:I need a loan to pay off tuition for a quarter of classes that I've already taken. Since I only need about $5k, I'm not even sure if a student loan would be my best option. My credit score is quite good, something like 700-750 for all three bureaus. My options for private loans are limited as well since many places will not offer loans for classes already taken. I could pay off this entire loan in one year, conservatively, and I'm mostly interested in paying the least amount of interest possible. I don't even know where to begin. What route should I take here? Could I just get a personal loan from a credit union or bank for a low variable rate that increases after 12 months or something similar? I'm afraid I'm in over my head here. Your school should offer a no-interest payment plan - inquire about it
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Mar 12, 2015 14:29
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Raimondo posted:So end of 2014 we filed for IBR and cosolidated my wife's student loans. For the 2013, we filed jointly for 2013 taxes without realizing it would impact the payments for the IBR loan. For 2014 taxes we plan to file separately since I have no loans, and her income is only 40k as apposed to 110k combined. Sorry to bring up this old post, but I didn't see any response to the quoted portion above and I'm in a similar situation. I thought if you were married, IBR (or the other new[?] income based plan) automatically bases the payments off the household income. Is filing separately when one person in the marriage has like 200k debt, while the other has no debt possible? edit: (my situation) wife owes a bit over 200k, makes 45k per year. I owe a bit over 10k, make 55k per year. If we went standard repayment it would be 2k per month for her loans... There's no chance we can afford that and I'm thinking we would be better off just letting the government take care of whatever is left in 25 years. extravadanza fucked around with this message at 16:07 on Mar 12, 2015 |
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Mar 12, 2015 15:51
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Based on this article (http://www.nolo.com/legal-encyclopedia/tax-filing-status-student-loan-payments.html) I think MFS will work for you. You'll likely pay a little more (i computed my gf and I pay about 1% more in tax being unmarried, and we combined make about 10k less than you folks) but that's a hell of a lot less than a few grand a month.extravadanza posted:Sorry to bring up this old post, but I didn't see any response to the quoted portion above and I'm in a similar situation. I thought if you were married, IBR (or the other new[?] income based plan) automatically bases the payments off the household income. Is filing separately when one person in the marriage has like 200k debt, while the other has no debt possible?
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Mar 12, 2015 18:26
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EugeneJ posted:Your school should offer a no-interest payment plan - inquire about it This is what I am doing currently, but I'd like to be able to finish my degree before paying off this debt, which I can't do. I'd even be willing to pay some interest for the privilege.
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Mar 13, 2015 00:06
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I'm thinking about putting my tax return towards the principal of at least one of my student loans, and then work on snowballing them down. What are some good calculators/ Excel spreadsheets that will let me play around with this?
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Mar 15, 2015 05:10
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Deeters posted:I'm thinking about putting my tax return towards the principal of at least one of my student loans, and then work on snowballing them down. What are some good calculators/ Excel spreadsheets that will let me play around with this?
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Mar 15, 2015 07:58
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https://payoff.io is another good one, it just got a big update too. I'm past the point where these calculators help me figuring anything out. I have one loan left and it's just a big long line down to zero now.
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Mar 15, 2015 15:12
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SiGmA_X posted:Did you file IBR for the Feds? Do that. Maybe your privates offer similar, but that's more often miss than hit. I applied for IBR and their wisdom was that my payment should increase $100 a month. I asked what else they can do for me, but yeah, not what I was expecting to hear.
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Mar 19, 2015 18:47
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Choose Deth posted:I applied for IBR and their wisdom was that my payment should increase $100 a month. I asked what else they can do for me, but yeah, not what I was expecting to hear.
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Mar 19, 2015 20:15
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From what I can tell I'm not eligible for PAYE because I graduated in 2008. Is that still the case?
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Mar 19, 2015 20:35
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Choose Deth posted:From what I can tell I'm not eligible for PAYE because I graduated in 2008. Is that still the case? quote:In addition to meeting the requirement described above, to qualify for the Pay As You Earn Plan you must also be a new borrower as of Oct. 1, 2007, and must have received a disbursement of a Direct Loan on or after Oct. 1, 2011. You are a new borrower if you had no outstanding balance on a Direct Loan or FFEL Program loan when you received a Direct Loan or FFEL Program loan on or after Oct. 1, 2007.
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Mar 19, 2015 21:09
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How do you know when it's good to consolidate your student loans and when its not? I currently have loans from Navient (formery salliemae I guess) and my great lakes, who ever the hell they are. I have about $37k to pay back. My monthly payments are super low right now. I have another job that's paying a bit more and I feel like I can chip away a little harder at these pesky bastards but I want to know the best way to attack them. Thanks!
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Mar 26, 2015 13:43
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DirtyTalk posted:How do you know when it's good to consolidate your student loans and when its not? Is your loan a federal loan? Don't re-consolidate it except through a federal program because federal loans have a lot more latitude in repayment plans in case you need to lower payments later. Can you get the same interest rate on a private loan but get your loan away from Navient? I would do it because I hate Navient about as much as a person can hate a faceless corporate entity.
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Mar 26, 2015 21:00
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100 HOGS AGREE posted:Can you get a lower interest rate or go from a comparable variable interest rate to a fixed one? It's probably a good idea.  
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Mar 26, 2015 23:18
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So has anyone here ever had part of their principal balance just written off when the loan was within $10 of being paid in full? I've been paying off each of my loans off one by one, and I've seen them write off the interest that accrued between the time I submitted the final payment and the time it was processed, but this is the first time they've actually done it with principal. My loans are serviced by Navient; I just called them and the rep told me the remaining principal balance of $9.24 was written off and that I should expect a paid in full letter within the month. I don't want to get screwed by this somehow down the line.
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Mar 27, 2015 00:29
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Is it possible it costs them more than 9.24 to process your payment?
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Mar 27, 2015 04:44
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DirtyTalk posted:How do you know when it's good to consolidate your student loans and when its not? Great Lakes is excellent to deal with (at least for the last 5 years I have had loans serviced by them). Navient/Sallie Mae...gently caress them. But like was mentioned if they are federal loans make sure you know what you are doing because they have a lot of protections built in.
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Mar 27, 2015 05:07
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100 HOGS AGREE posted:Can you get the same interest rate on a private loan but get your loan away from Navient? I would do it because I hate Navient about as much as a person can hate a faceless corporate entity. While I understand the sentiment, I would never recommend getting rid of a federal loan in favor of a private loan. The protections built in are worth the hassle, to me. Asterios posted:Is it possible it costs them more than 9.24 to process your payment? Most servicers have a write-off process in place for extremely low balances for pretty much this reason. Aunt Dahlia posted:So has anyone here ever had part of their principal balance just written off when the loan was within $10 of being paid in full? I've been paying off each of my loans off one by one, and I've seen them write off the interest that accrued between the time I submitted the final payment and the time it was processed, but this is the first time they've actually done it with principal. My loans are serviced by Navient; I just called them and the rep told me the remaining principal balance of $9.24 was written off and that I should expect a paid in full letter within the month. I don't want to get screwed by this somehow down the line. You should be fine. Huzzah for a paid in full balance!
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Mar 27, 2015 14:54
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Wiggy Marie posted:While I understand the sentiment, I would never recommend getting rid of a federal loan in favor of a private loan. The protections built in are worth the hassle, to me.
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Mar 27, 2015 16:01
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This might be the wrong thread for it, but I wasn't sure where to ask so here goes: I got a new job out of state and will be moving in early May. My wife meanwhile, has 16 credits left to finish her degree and tells me all her remaining classes can be done online so she would prefer finishing out at her current university rather than transfer. How will this affect in-state vs. out of state tuition? Can she remain a resident of our current state (Florida) while I become a resident of our new state (Virginia) after the move? She had been taking out student loans as well, I wasn't sure what impact, if any, this would have on it.
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Mar 28, 2015 16:43
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I have 57k in consolidated loans. (35k unsub, 22k sub) I'm currently waiting for my PAYE application to be processed, so seeing as I only make 34k a year and wont be able to make more than that anytime soon, is it reasonable to expect to be hitting the 15 year forgiveness cap? Also, like many others, my for-profit school (ITT Tech)got sued by the government for predatory loaning, what are the odds of my loans being reduced/dropped over that?
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Mar 28, 2015 23:25
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Ballz posted:This might be the wrong thread for it, but I wasn't sure where to ask so here goes: This is going to vary greatly depending on the school, but sometimes the tuition for online programs has nothing to do with residency
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Mar 28, 2015 23:47
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