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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 118128
Experience:  Attorney experienced in commercial litigation.
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What are my rights when it comes to private student loans? I

Customer Question

what are my rights when it comes to private student loans? I made the mistake of using Sallie Mae because my school didn't offer federal loans just private. I receive several calls daily even on weekends, also when i first started back to school my grandmother
has to co-sign, but it was only once or twice because it got to the point my credit was good enough to do it on my own. And i understand the obligation she made co-signing with me, but she is also getting several calls daily and they even take money out of
her account without it being authorized and she ends up having to call her bank and the bank stops the charge. Its to the point its out of control and they shouldn't be allowed to treat people this way just because they want the money before they are even
suppose to receive it.
Submitted: 2 years ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 2 years ago.

Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.

If the loans are not due for collection yet, then they are in breach of contract for them collecting them and your grandmother being harassed and having money taken would have the right to sue them for breach of the contract. You do of course owe the payments when they are due, but if they are not due yet, the lender has no legal right to collect on them and doing so is a breach of contract and your grandmother can sue them for doing so and for all damages and costs she incurred from them doing this.

Customer: replied 2 years ago.
I understand that completely but for instance i was in school part time bc i work full time to survive, and bc i was 1 hour shortly of what they considered full time i had to pay a monthly few which about $200 even thought i signed up to make payments after i got out of school because i wouldn't be able to pay that amount of money while in school and working.
Expert:  Law Educator, Esq. replied 2 years ago.

You have to pay them as the contract requires though, if you were 1 hour short and had to pay according to your contract, you had to pay. If they collected when they should not have, then they are in breach of contract as I ssaid.