Well.........you guessed it, DENIED!, AGAIN!!!!! even WITH a co-signer.....getting to the end of my rope here.

 You have applied at "seven" financial institutions? You are running out of lenders here. Having that many inquiries on your credit history is enough to cause a turn-down.

 Secondly, what institutions have you applied to? Who is the original lender of your student loan?

 If you would like some help in the prepatory and educational side of this, feel free to contact me. You might be approachign this all wrong. From what you have described, you are exhibiting "desperation" and that is not good if it is "visible" to the grantor. Ypou need to be better prepared. Then, things will work out better for you.

It was partly without my knowledge that I had applied at so many banks cause I used a financial broker type service and they applied on my behalf which I know now was a mistake.  However, I just talked to a loan specialist who works for a local credit union.  I was referred by a business associate who said "give them a try, credit unions are nothing like the big money grubbing banks".  and man was she right!!!!!!!!!!.  This person was straight forward, empathetic, understanding, and genuinely nice!!.  I had told him about how many times I had been turned down and why and he said he understood how that would look to a lot of other banks but that he would do everything in his power to help me get this taken care of.  I would still need a co-signer of course but it was like he actually heard my plea and is TRULY eager to help me.  Maybe it'll be the same old thing but somehow it feels different. 

    I called the CA and asked them what they would take as a lump sum settlement.  At first she said "That decision is not up to me,.......why can't you just pay the whole thing".  I said that even if I do get a loan it will be nowhere near the entire amount and that they would have to decide whether to take a lump sum payment for about three quarters of the loan or wait years and years for me to pay it off very slowly.  She then said "Call me back when you find out if you get the loan and we'll discuss this further"  Am I being foolishly optomistic or will they really take a settlement that is several thousand less???

Got a call from the CA today and she said that after reviewing my account, they would not take a settlement because my loan was federal and not provincial.  She said every loan has a provincial part and a federal part..........mine doesn't.  Maybe cause it is older but she said they never accept settlements on federal student loans.  She said I could write a proposal and send it to the government to see what happens.  My banker said he finds it unlikely that they would not accept a settlement and are probably just trying to get every cent out of me (he used to work for student loans collections).  My problem is that I don't want this opportunity to pass me by because of the situation getting tied up with the government for who knows how long......even the CA said the government is extremely slow when handling these matters. 

    Hasn't the government washed their hands of this debt by sending it to a third party collector?? I thought it would be at the discretion of the collection agency whether or not to accept a settlement.  Are they just lying to me to try and get it all??? there is absolutely no way I could get a loan for the full amount.  I even came right out and asked my banker and he said......NOPE.  If I can't get this taken care of now, I don't know when I'll EVER get this chance again

 in debt bad,

 If your loan is a debt owing to the Crwon (HRSDC) then youa re wasting your time proposing a settlement. No offense, but if your banker claims to have worked int he student loan colelction sector, then he or she would already know this.

 To get the Crown to even consider a proposal, you first have to give them a reason to do so. If the Crown determines that the borrower is a) not experiencing financial hardship, b) is able to pay but is simply looking to save a few bucks, c) is falsifying or misleading in their situation and proposal to get a deal, d) or is not acting in good faith in any way; then they will decline.

 A person's situation must be pretty severe - even critical for the Crown to agree to settle. Remember, the Crown can seize income tax and GSR rebates for as long as you owe money to the Crown.

 Johnny