Financial Statement

[hopeful]

Today I received a financial statement to fill out from the place that holds my student loan.

 

I have already made arrangements for rehab of this loan and will be sending that in this week.

 

I'm wondering if this financial statement just got crossed in the mail somehow or what. Since I will be sending in the payment this week, is this even necessary for me to fill out and send in? The letter that came with it has no mention of rehab which is why I wonder if it had gotten crossed in the mail or something.

 

If I am to fill this out, do they want you to send the proof of the income and expenses as well? This form doesn't mention that at all. Do they just take your word for it?

 

I don't feel comfortable giving them all of this info. It really isn't any of their business especially since I've already made the rehab arrangements.

 

Also, what do they look for in this exactly? If you have approximately $500 left per month after expenses, I'm assuming that means they think I will have the ability to pay more than the rehab payment. That does not even include other things such as gas for vehicle (and we all know how much that is LOL) and school lunches and such for my kids.

 

Actually I can't believe I even have $500 per month left over after expenses. It sure doesn't seem like it. I live paycheck to paycheck and never have any money. Here on paper makes it seem as though I have $500 per month left. ????

 

Anyway, what exactly left over money amount are they looking for in determining repayment of loans?

 

Also, at the bottom of this it says **My signature below affirms that the foregoing information is complete and accurate under the penalty of KRS 523.100, 517.070 and 517.090.

 

Can someone help me find those particular laws so that I may read them?

Edited September 6, 2005 by hopeful

[legaleagle]

http://www.lrc.ky.gov/krs/titles.htm

 

This is if you are in Kentucky. You didn't say.

 

You can find a lot of answers at findlaw.com but you need to be reasonably adept at searching.

[LynnInMN]

When you set up your rehab payment, did you negotiate a payment lower than 1% of your balance?? If so, you will need to provide this information to justify your "reasonable and affordable" payment to be approved for rehab.