My credit is horrible... my car was just repossed... I need to acquire a loan... how should I go about doing this...
Anything will help...
2007-01-12 03:41:14 · 11 answers · asked by chialapeanut 1 in Education & Reference ➔ Financial Aid
Stafford loans are not based on your credit score at all. Just complete the FAFSA and speak to your financial aid officer about additional paperwork to complete. As long as you have not defaulted on a past stafford loan, owe the government an overpayment, registered for selective service if male and are otherwise qualified to receive federal student aid you will get the loan.
2007-01-12 04:03:39 · answer #1 · answered by appylover 4 · 0⤊ 0⤋
I think federal school loans are almost guaranteed to any US citizen. A lot of students have poor credit since they often can't have full time jobs because of the guidelines of some loans. You also may want to contact a lawyer and explore bankruptcy, chapter 7. if you're young enough, it won't be that bad to not be able to get decent credit for awhile. However, it is possible to get credit almost immediately after the bankruptcy. Your interest rates may be higher, but still possible. if you have a credit problem, this may be a good solution. plus, if you would of applied for bankruptcy, you probably would still have your car because typically they won't get rid of your home or car so you can work and pay off debt.
2007-01-12 03:48:27 · answer #2 · answered by smckech1972 4 · 0⤊ 1⤋
I didn't think you credit score was an issue on ANY student loans. My sister has a horrific credit score and she just got approved for a whole bunch of money... More money then she needed so she bought a laptop and gave some back..lol so just go for it ....It won't effect you.
2007-01-12 03:44:02 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You can get a stafford loan....credit is not a factor because it's a federal loan. The financial aid office at your school can help you with the paperwork. Good luck.
2007-01-12 03:46:32 · answer #4 · answered by Anonymous · 1⤊ 0⤋
Student loans aren't concerned with your credit score.
2007-01-12 03:43:30 · answer #5 · answered by Barrett G 6 · 0⤊ 0⤋
i don't think you credit score comes into play with students loans, BUT i will advise you to make sure that you can consolidate the loans you do get. Ask before you commit b/c if you can't consolidate them it causes lots of problems when it comes times to pay them back. Also, remember that you can't escape repayment, they'll garner your wages, sue you, drive you into the ground. Repayment DOES affect your credit. be smart, ask questions, this is a life commitment.
2007-01-12 03:51:20 · answer #6 · answered by ejuju 1 · 1⤊ 0⤋
confident initially applying for any style of loan (residing abode, motorized vehicle, pupil, own) makes your credit status dip extremely. in spite of the reality that, as quickly as you start up making approximately 6 well timed money, your score is going up heavily greater beneficial than the dip. additionally, as quickly as you're 'finding out to purchase' around for the excellent loan expenditures, you may circulate to many distinctive lenders and overall performance them examine your credit with it quite taking one hit. as an occasion, once you're finding out to purchase a sparkling motorized vehicle, you may inspect like 5 distinctive lenders to verify which could be impressive yet your credit would be affected indoors an comparable way as in case you had quite seen one. solid fulfillment!
2016-12-12 09:55:28 · answer #7 · answered by hergenroeder 4 · 0⤊ 0⤋
student loans aren't determined by your credit rating
go to www.fafsa.gov or www.fafsa.edu (I forget which one it is, its been a while)
this site an give you an abundance of info on loans and grants
2007-01-12 03:56:17 · answer #8 · answered by Ruby 2 · 1⤊ 0⤋
Dave the Shark down the pub I would'nt welch on that loan though.
2007-01-12 03:46:19 · answer #9 · answered by Bohdisatva 3 · 0⤊ 1⤋
stafford loans do not need co signers and don;t go by ur credit... I KNOW.. my credit is horrible. www.fafsa.ed.gov
2007-01-12 08:42:07 · answer #10 · answered by chilover 7 · 0⤊ 0⤋