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Default is a negative state in your loan. This can happen in a number of reasons. Not making your payments according to the contractual obligation is the most common. Most instituitions have a number of default measures. Default shows your inability to satisfy contracts, so expect to pay higher rates or experience denails on any future contacts requests. Moral of the story - communicate before you default rather than ignoring the problem. Default is like a festering wound - if you fail to take care of it, you might lose a leg.
What else can I help you with?
I owe about 7000 in student loans which I am paying on can I go back to school and get more student loans?
Yes, you can take out additional loans as long as you are not in Default on the current loans.
How can a single mother with default loans get financial aid?
If you are in default on federal student loans you are not eligible for financial aid until you get them out of default.
What is a Notice of Rescission of Declaration of Default and Demand for Sale and Notice of Default?
A Notice of Rescission of Declaration of Default is a mortgage loan that was once in default, and a notice of default would mean that the loans are still currently foreclosed in a way.
Can I still get help if my loans are in default?
If your loans are Federally Guaranteed Student Loans, like Stafford or Perkins loans, then yes there is help. This company specializes in helping people that are in default: www.defaultms.com
What does the real estate standard contract default rate mean?
The real estate default rate is the rate of borrowers that fail to remain current on their loans. When a homeowner is in default, their house may be in danger of being foreclosed on.
What are the default rate statistics for micro business loans?
According to Business Week Magazine, the default rate is 4%. Kiva, a non-profit micro loan organization reports a 2% default rate. Micro loans generally have a lower default rate than conventional SBA loans.
Does co-signing effect the ability to get your own loans or student loans in the future?
yes if they default it will hurt your credit yes if they default it will hurt your credit
Does co signing effect the ability to get your own loans or student loans in the future?
yes if they default it will hurt your credit yes if they default it will hurt your credit
Can you go back to school if your old student loans are in default?
no you can not. contact the department or company that your defaulted student loans are located at. some have a repayment/rehabilitation plan. When you complete this you can go back to school. best of luck!
Can you still get federal student loans if you have defaulted on other student loans that are now deferred?
If your loans are in a Deferment, then they were never in a Default status, they may have been delinquent. You are not eligible for Deferment while loans are Default. So to answer your question, yes you are eligible to take out additional loans if you are in a Deferment.
Will you still be able to attend college if you owe student loans?
Yes, if you are not taking additional loans out you can go back to school. If you do want to take additional loans out, you need to consolidate the defaulted loans first. You can get help with the consolidation at www.defaultms.com
What do you mean by performance?
An NPA, or non-performing asset is a classification used by financial institutions that refers to loans that are in jeopardy of being in default.
