NY Bar App Q- Loans Addendum?

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sandwiches5000
Posts: 412
Joined: Wed Oct 27, 2010 11:54 pm

NY Bar App Q- Loans Addendum?

Postby sandwiches5000 » Thu May 28, 2015 10:35 am

Hi there, doing the NY character and fitness now. This is kind of a weird question, but is there any harm in writing an addendum explaining that I have a plan for paying off my loan debt? I have a firm job and I've used those debt calculators. I can definitely pay it off in ten years or less. If you look at my credit report it looks like I have a million student loans out but some have been consolidated/combined or paid off. I have a lot of debt because I took out loans in undergrad and law school. I read there was some guy who was denied admission because he had too much debt and had no "plan" and I got all paranoid. Didn't know if an addendum would make me look crazy. I have never missed a payment on anything ever in my 9-year credit history, but my undergrad loans are in forbearance right now because I graduated in December and don't start my firm job until Sept. (I've made a couple of payments but the interest rates are low and I would rather save money for moving... May make a payment or two though if it makes me look better for the bar people.)

Thanks.

raptors_delight
Posts: 55
Joined: Wed Aug 13, 2014 10:30 pm

Re: NY Bar App Q- Loans Addendum?

Postby raptors_delight » Thu Mar 31, 2016 11:10 pm

Bump. Also curious.

raptors_delight
Posts: 55
Joined: Wed Aug 13, 2014 10:30 pm

Re: NY Bar App Q- Loans Addendum?

Postby raptors_delight » Thu Mar 31, 2016 11:14 pm

Oh, damn. Just realized this is from 2015, not 2016. OP, what did you end up doing? I'm in an identical situation.

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Danger Zone
Posts: 7317
Joined: Sat Mar 16, 2013 10:36 am

Re: NY Bar App Q- Loans Addendum?

Postby Danger Zone » Thu Mar 31, 2016 11:14 pm

That's weird. Don't do that. Don't draw attention to your loans, which are probably fine unless they exceed a half million or something ridiculous. They care about debts which are past due 90 days or more if I recall correctly, not whether you have a plan to pay down debt.

bluewin888
Posts: 82
Joined: Thu Apr 24, 2014 3:21 pm

Re: NY Bar App Q- Loans Addendum?

Postby bluewin888 » Fri Apr 01, 2016 7:58 am

They care about debts which are past due 90 days or more?


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