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#1
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Here is the story.
I was given a $9,000 student loan in payments of $1,500. I received the first payment. Then they pulled back the rest of the loan after saying they didn't know I was enrolled in a community college (even though I listed the college on the application). They are now saying I still have to pay the interest rate on the original $1,500, thus violating the contract. Also, it leaves me in a [censored] situation as I have no job. |
#2
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suing costs money...doesn't sound like youi have that much of it [img]/images/graemlins/frown.gif[/img]
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#3
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Well actually it is very likely that there never was a contract. They obviously thought you were going to a different class of institution.
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#4
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You can sue pretty much anyone. I think your question is "Am I likely to win if I sue?"
Look up what the limit for small claims is in your state, and if it's 10k or under, knock yourself out. Otherwise, it may be time for that job. |
#5
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They probably have encountered this before and have the proper legal terms in the contract to not lose in court. What would you be suing for - to get your interest rate down? That would save you like $50 over the life of the loan.
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#6
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I would be suing for stress because they put me in a bind money wise to pay my rent and utilities when I was relying on their money to do this. Also hurting my schoolwork.
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#7
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I have an LLB not a JD but the US system is similar enough that I don't see how you could win.
More importantly I don't see how you could afford to hire a lawyer. Did you give the student loan people the name of your school when you applied? |
#8
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Yes I gave them the name of the school.
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#9
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Your best bet is to attempt to locate other individuals facing a identical situation from the same lending institution.
If this is a one time "clerical" mistake on their part, you are probably out of luck. If there is a pattern of this mistake occurring, then your prospects brighten a bit. Should the latter prove to be true, contact a attorney specializing in consumer law. If a class can be established, they will likely take up the cause pro bono. |
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