TexasCHLforum.com

I share the following bit of embarrassing info in case it helps the next CHLer:

A couple of years ago I lost a job and my liquid assets dwindled quickly. Instead of being a man about it and talking to my student loan lender, I was ashamed and let it default. Then my CHL expired. And with a defaulted loan you can't renew.

Fast-forward to now: gainfully re-employed, student loans (and other creditors) back on track, and CHL first-timer course re-taken. (Argghh! the mind-numbing pain!). If I did the sig correctly, my timeline is below.

If I had the guts to talk to my student loan creditor and worked out a deferral I wouldn't have a 2.5yr outagein my CHL status. That's what pride/fear will do for you. That's a 2.5yr outage in my ability to carry for my family's protection. Bad Dad.

So if anyone else in there gets in trouble with their income flow, remember to work with your student loan officer or you may end up CHL-less.

fratermus wrote:So if anyone else in there gets in trouble with their income flow, remember to work with your student loan officer or you may end up CHL-less.

This is true of almost everything. Loan companies would rather work with you than have a default, and it preserves your credit rating as well as your CHL and professional licenses.

I hope things continue to look up for you.

P.S.: I don't think you were a bad dad if you stuck with your kids and provided for them.

- Jim

Bad Dad went to good Dad.
It is good to get it all straight after the new job came along.
It takes a Mature man to use that kind of life incident to help others when you could have kept it to yourself & no one else would have know.
We are glad to have you.
LT

That had to be hard to confess. We appreciate the reminder!

longtooth wrote:Bad Dad went to good Dad.
It is good to get it all straight after the new job came along.
It takes a Mature man to use that kind of life incident to help others when you could have kept it to yourself & no one else would have know.
We are glad to have you.
LT

Welcome aboard Fratermus. Thanks for posting!

Great advice, Fratermus, thanks for sharing and welcome aboard.

This is a great caution...

BTW, does the student loan "rule" apply to private loans as well, or just the federal student loans?

HooG19 wrote:This is a great caution...

BTW, does the student loan "rule" apply to private loans as well, or just the federal student loans?

These were Texas-guaranteed loans (Texas Guaranteed Loan Corporation) or something. My understanding is that other kinds of state-enforced financials will ding you too. So remember to stay on top of financial responsibilities, my fraters and sorors of the concealed carry.

My app is still processing, btw.