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New Member
Posts: 1
Registered: ‎06-08-2008
0 Kudos

Help with student plus loan

I under stand that a federal student pluse loan could be denied for these

If you have any one of the following items on your credit report within the last five years, you may not be eligible for a PLUS Loan:

Government Claim on Defaulted Loan or Title IV Write-Off

90 days or more delinquent on any debt, Collection Account, or Charge-Off

Foreclosure, Foreclosure proceedings started, or Deed-in-Lieu of Foreclosure

Credit Line Closed, Lease or Contract Terminated by Default

Voluntary Surrender, Repossession or Wage Garnishment

County/State/Federal Tax Lien, Government Claim on Secured Real Estate

I was denied by Wells Fargo Bank for Collection activity on my report,

it was from a debt that was charged off over 6 years and just bought by a Collection agency

and put back on my report as a new Collection.

What can I do?

Moderator Emeritus
Posts: 9,252
Registered: ‎03-19-2007
0 Kudos

Re: Help with student plus loan

I assume you are already maxing your Stafford loans?
It stinks but you only options might be:
wait a year for the collection to fall off
You might be able to get the CA to PFD-
New Member
Posts: 1
Registered: ‎06-13-2008
0 Kudos

Re: Help with student plus loan

I'm not an expert in this area at all, but I have been there.  A year ago I needed a Plus loan to make it through Grad school but had some (3) collections on my report from hospital bills that I was still paying off.  A number of places turned me down.  StudentLoanXpress was willing to get on the phone with me and come up with a solution. 
Good Luck!   

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