Grad Plus - Satisfied Judgment

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molazapuku
Posts: 102
Joined: Sun Sep 12, 2010 6:11 pm

Grad Plus - Satisfied Judgment

Postby molazapuku » Sun Sep 26, 2010 12:11 pm

I ran across a statement that the Gradplus loans that they are looking at the last 5 years. My credit numbe is bad, but it has been in recovery for the last 5-6 years. The only thing from the last 5 years would be a judgment.

Most of what I read essentially states that if you have a judgment, game-over. But in this, I wonder if they count a satisfied judgment the same way. I dont want to into the details....but the short version is I thought I shouldnt have to pay something, the court didn't agree, so i paid it. It's still a judgment, still on the credit report...but will they deny/reconsider a denial on appeal if it has been paid?

Anyone have any experience with anything like this?

If can PROBABLY make things work without GradPlus, but it certainly changes the type of schools I can shoot for.

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Holly Golightly
Posts: 4618
Joined: Wed Jan 13, 2010 10:30 am

Re: Grad Plus - Satisfied Judgment

Postby Holly Golightly » Sun Sep 26, 2010 2:16 pm

Call the Direct Loans people and ask. I had some specific questions for them regarding my situation, and they were really helpful.

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2014
Posts: 5831
Joined: Sat Jun 05, 2010 3:53 pm

Re: Grad Plus - Satisfied Judgment

Postby 2014 » Mon Sep 27, 2010 11:40 pm

You will probably have to find a cosigner but could still manage to get the loan.

MrAnon
Posts: 1615
Joined: Wed Aug 25, 2010 9:08 pm

Re: Grad Plus - Satisfied Judgment

Postby MrAnon » Tue Sep 28, 2010 12:02 am

They will give loans to A N Y B O D Y. They would give loans to someone living on the lamb in Thailand who has been trying to avoid debt payment for a decade if only he would come back to the U.S. and enroll in law school.

Seriously this is really no barrier to loans at all. Remember when they gave out loans like candy to buy U.S. housing in 2003? Same deal with school loans. The legalese you read is just there to satisfy the legal department. You will get a loan. Please come back to this thread and post if you do not.

TaxLaw2010
Posts: 24
Joined: Fri Sep 04, 2009 12:22 am

Re: Grad Plus - Satisfied Judgment

Postby TaxLaw2010 » Wed Sep 29, 2010 12:35 am

I had a judgement on my credit report, which was satisfied. The judgement was for something really stupid. Anyways, I was approved after I appealed the original denial. The moral of the story? I don't think you will have a problem securing a grad plus loan.

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inchoate_con
Posts: 209
Joined: Thu Jul 22, 2010 9:58 pm

Re: Grad Plus - Satisfied Judgment

Postby inchoate_con » Wed Sep 29, 2010 12:54 am

You'll probably get denied, but then, upon an appeal, they will approve. Don't worry about it (easier said than done) and just follow the process.




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