Legal Question in Credit and Debt Law in New York

Recently, my student loans payments were calculated and I was told that I would not have to pay this year based on my income. Today I received a bill with a payment amount on it. I called my loan holder, and was told my loan was recalculated and I had to pay this amount, and that they sent out paperwork announcing that. I never received this paperwork and had no idea that my payments had changed. Do I have any legal standing for requesting the original no payment for the first year be upheld?


Asked on 9/20/13, 5:01 pm

1 Answer from Attorneys
Guy Lewit Guy Mitchell Lewit, Esq.

How were you told that you would not have to pay this year based on your income? If it was in writing you may have recourse if the calculations were correct in the first instance. Usually, if it was a simple mistake you would NOT have recourse. You don't explain how it came to pass that your loan was recalculated. You should review your loan document agreement and see what it says about the process. I am unable to provide a more complete answer because I do not have the luxury of seeing the complete agreement.

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Answered on 9/20/13, 6:39 pm


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