What is the name of your state (only U.S. law)? Colorado
I have four Sallie Mae Private Student Loans, along with my Federal Subsidized and Unsubsidized loans. I recently applied to get a home loan and found out I am unable to get credit for a home due to the Private Loans, despite the fact that I am employed, have a Master's degree, make all payments on time, and have very low credit balances. My private loans are all listed like a credit card. One is listed as "over limit" and the three others are listed as being right at their limits. This makes it look like I am an out of control credit card user. Are these Private Loan companies through Sallie Mae allowed to list student loans as if they are credit cards? I know for a fact they never told me when I got the loans that getting them would prevent me from being able to purchase a house ... or even a car. The four loans only add up to $10,000.00, but it was money desperately needed as a student supportive herself through college without assistance from family (I was the first in my family to go to college). Does anyone know a way I can fix this?
I have four Sallie Mae Private Student Loans, along with my Federal Subsidized and Unsubsidized loans. I recently applied to get a home loan and found out I am unable to get credit for a home due to the Private Loans, despite the fact that I am employed, have a Master's degree, make all payments on time, and have very low credit balances. My private loans are all listed like a credit card. One is listed as "over limit" and the three others are listed as being right at their limits. This makes it look like I am an out of control credit card user. Are these Private Loan companies through Sallie Mae allowed to list student loans as if they are credit cards? I know for a fact they never told me when I got the loans that getting them would prevent me from being able to purchase a house ... or even a car. The four loans only add up to $10,000.00, but it was money desperately needed as a student supportive herself through college without assistance from family (I was the first in my family to go to college). Does anyone know a way I can fix this?