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Just how long do defaulted figuratively speaking stick to credit file

Just how long do defaulted figuratively speaking stick to credit file

Scvbd99, my goal is to need to disagree with you. We finished rehabbing my loan in might and TU and EX have actually deleted the old tradelines entirely (waiting on EQ). These people were changed by tradelines aided by the brand new loan servicer dating back again to once I initially took out of the federal student education loans having a “pays as agreed” status with no belated re re payments. They really reveal no re payment history on it. My understanding is the fact that this isn’t always the way it is with every person (having the tradelines that are old), however the brand brand new tradelines will back date. Theoretically, all they need to do is remove any remarks showing that the loans had been ever in default, many do significantly more than that.

Absolutely nothing you said has any applicatiion to my reponse to your opening post.

I stated that unpaid student education loans stick to your credit file indefinitely, and I also’m maybe maybe not which makes it up. Your loans that are rehabbed stay unpaid continue to be on the credit file, right? The financial obligation does not disappear completely, and neither does reporting on that financial obligation in your credit history. After rehab, your debt simply gets a new servicer, as you stated.

Anyhow, the person i taken care of immediately said absolutely absolutely nothing about rehab.

As far as what you’re saying (which again, has nothing to do with this thread) when you rehab a loan, all given details about it ever having experienced standard is requried to disappear completely for legal reasons. Other deraugatories eliminated are 100% as much as the CA/servicer. Actually, I experienced 18 defaulted student education loans that i rehabbed, and 15 of these had the belated re re payment history before default eliminated. The other 3 would not budge, and left my payment history that is late on. It had been completely worth the rehab process, though.

And yes, of program you obtain brand new tradelines for every single defaulted loan you obtain rehabbed whenever it gets a brand new servicer. It really is pretty awesome.

800+ for many 3 CRAs.

Took 4 years after rehabbing a lot of defaulted student education loans, but completely worth every penny.

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I assumed you had been referencing the post above you that suggested rehabbing as a choice. My blunder.

FICO8 ratings at the time of 8/8/17: EQ-643 TU-644 EX-629
Current FICO8 ratings as of54/7/18: EQ-668 TU-651 EX-652
Current Mortgage ratings: EQ-681 TU-655 EX-648
Goal: all FICO8s above 700

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I really have no clue in the event that OP could be in a position to rehab te loan in concern. Whether it’s a qualifying loan kind, i’d bet he could provided that it had never ever defaulted before. It is possible to just rehab a qualifying loan when.

800+ for many 3 CRAs.

Took 4 years after rehabbing a lot of defaulted student education loans, but completely beneficial.

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Though some student education loans (Stafford) is not reported after 7, they could tax intercept the hell away from you until it really is repaid.

They could also Tax Warrant (Lien and Levy) you aswell.

That literally means they are able to sieze your checking and cost cost savings reports, genuine home, an such like, in the event that you get too much time.

I happened to be significantly lucky, as 50 % of my education loan 15 years back that I’d deferred after which been making repayments on, ended up being forgiven as a result of University being sued for fraudulence.

So my education loan reports reveal since paid as agreed (moved to a different working office) from the time these people were forgiven.

They fall off soon, so bye bye free cheap bump of all time, but those had been Stafford and if I defaulted they could take all of the steps above including private collections until they were forgiven I kept getting annual notices that.

One other forms of Federal Student Loans (Perkins) are resistant through the 7 year guideline and certainly will appear literally forever since is stated before.

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