Thread: Need help with financial aid...

Ok so I applied to Key bank and got turned down because I had a card
in collections. I had payed this card in full, but it hasn't appeared yet on my credit report. However, I should have this matter fixed in a couple of weeks.

The only problem is that Key bank turned me down on a reconsderation...because I thought this card was all taken care of...but it wasn't.

Anyway, I'm not gathering information proving that my payments to the collections were in a timely manner, plus i'll gather better evidence that my account is now fully paid...and I'll get a good cosigner.

My credit score right now is close to 600. Do you guys think that with this score and a good co signer and having all the supporting documents i can 1) apply for key bank again and get approved
or
2) forget about key bank and go with teri

The thing is I want to join in sept 04 and time is running out.
Any suggestions will be greatly appreciated. Thanks.

Also, why can't I add a signature to my profile lol it says this site does not accept users over 0 years old...

I'll add it there though, manually.


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"You see me as I am. I see myself as what I can be."

Originally Posted by Abhi1234

Ok so I applied to Key bank and got turned down because I had a card
in collections. I had payed this card in full, but it hasn't appeared yet on my credit report. However, I should have this matter fixed in a couple of weeks.

The only problem is that Key bank turned me down on a reconsderation...because I thought this card was all taken care of...but it wasn't.

Anyway, I'm not gathering information proving that my payments to the collections were in a timely manner, plus i'll gather better evidence that my account is now fully paid...and I'll get a good cosigner.

My credit score right now is close to 600. Do you guys think that with this score and a good co signer and having all the supporting documents i can

The best thing to do is resolve the issue and make sure your credit report shows that it's been fixed. This is a common problem. Once you get a bad mark, it's hard to fix things. You'll need to talk with the credit agencies and write letters to fix the matter. Some students even sent legal letters from lawyers to resolve the issue. It will take some time and a lot of work but it's possible to resolve.

1) apply for key bank again and get approved
or
2) forget about key bank and go with teri

I wouldn't apply to anything until you've fixed the problem.
If you don't fix the problem, it will be there for years to follow.
Things don't just magically disappear off your credit report.

The thing is I want to join in sept 04 and time is running out.
Any suggestions will be greatly appreciated. Thanks.

There's no rush to join. You can start at any time (Jan, May, or Sept).

Also, why can't I add a signature to my profile lol it says this site does not accept users over 0 years old...

I'll add it there though, manually.

This is a known bug in ValueMD.

Thanks for all that good info.

My issue with the credit card should be fixed next week. I'm getting a friend to co sign my application. He has great credit, a good job/income and also is a home owner.

Once my credit card issue is fixed, I'll get letters from amex and the collection agency, stating that the account is indeed paid in full. I will also get a payment history from my counseling agency that shows that I made payments on time. Also, I'll send letters to credit reporting agencies right away telling them to show that everything is paid off.

I will send all this information along with my co signed application to teri. If they approve me great...if not, I'll wait till my report gets cleared and then I'll appeal to have my application reconsidered at a later date.

How does that sound?

thanks

I sort of had the same issue where i had 75% of my available credit used up but i just paid some of it to bring it way below that amount. But key bank was pretty cool and let me fax them online account summaries. Can you do that?

hey dude
Yeah I can talk to my creditors and get them to send faxes of current
debts. IN a couple of days I shouldn't have much anyway.

I'm preparing a huge "Why I Deserve This Loan" packet to send in with my application for teri.

Thanks again.