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Actually, the default will stay on your credit indefinately until you get out of default. Student loan default on Federally Guaranteed student loans has no statute of limitation. If you consolidate your defaulted student loans, they will show up as Paid In Full on your credit report. You can get help with the consolidation of your student loans through www.defaultms.com
Any default is going to stick around for about 7 years.
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How can one get out of student loan default?
The easiest way for an individual to get out of student loan default is to pay off the remaining balance of the debt in full. This would also be the quickest way to rectify the issue.
Should you pay student loan with line of credit?
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Would your parents have to pay off your Wells Fargo student loan if they are a cosigner and you default?
If your parents are willing to be a cosigner, they may want to check into the new Wells Fargo Student Loans for Parents. With this, they would be fully responsible for repayment of the loan.
How can one pay off student credit card debt?
There are many ways to pay off student credit card debt. Some of the ways to pay off credit card debt are borrow against life insurance, get a home equity loan, renegotiate the term with a creditor and many more.
How can one get out of student loan default?
The easiest way for an individual to get out of student loan default is to pay off the remaining balance of the debt in full. This would also be the quickest way to rectify the issue.
I had a federal student loan that went into default. They took my taxes each year and they are now paid off. I was wondering If I would be able to go back to school and get another student loan?
I'm pretty sure if you have defaulted on a previous student loan, you cannot get a federal student loan again. maybe you could get a private student loan, but the rate you'd get would suck cause your credit probably sucks after defaulting on that other loan...sorry.
Should you pay student loan with line of credit?
I heard you can write off you student loan if you put it on your house/line of credit. But i thought you could do that anyway. Anyone know?
What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
If you never made a payment on a student loan and it was turned over to another company when can you have the first company taken off your credit?
after 6 mos. it goes into default, and then the 7 yrs. starts, so it would be 7 yrs., 6 mos.
Would your parents have to pay off your Wells Fargo student loan if they are a cosigner and you default?
If your parents are willing to be a cosigner, they may want to check into the new Wells Fargo Student Loans for Parents. With this, they would be fully responsible for repayment of the loan.
Can you apply for student loans if you have defaulted on your previous student loans?
If you are living in the US, then the answer is no if the loans are in default. You will not be eligible for another Federal student loan until the loans are rehabilitated for 12 months or consolidated. If you need help with consolidation of your defaulted loans, please click on the link at the bottom of this text box. In some other countries, student loans can be awarded as long as you fill the requirements (i.e. are a student at an approved institution and have a minimum of courses). You can simply keep adding to the loans and pay them off later when you finish studying, or while paying them off.
How can one pay off student credit card debt?
There are many ways to pay off student credit card debt. Some of the ways to pay off credit card debt are borrow against life insurance, get a home equity loan, renegotiate the term with a creditor and many more.
If a student loan disappeared off your credit report but you still owe money on the loan can they put it back on your report?
It would depend on the type of student loan. Federally guaranteed student loans have no expiration under existing laws, and will indeed reappear and can be collected on and sued over until they are paid.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
Will your credit go down if you cosigned on a car loan and a student loan?
YOUR CREDIT CANNOT GO DOWN? UNLESS YOU FORGET TO PAY THE LOANS ON TIME. IN FACT YOUR CREDIT WILL GO UP AND YOU'LL BE ABLE TO BUY MORE STUFF AS THE LOANS ARE PAID OFF.
Wage garnished student loan paid off can you get another student loan?
Yes, if you paid off a Defaulted student loan and don't have any other defaulted student loans, then you are eligible to get new Federally Guaranteed student loans.
