Just how long do defaulted figuratively speaking remain on credit history

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Just how long do defaulted figuratively speaking remain on credit history

Scvbd99, i will have 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 utilizing the loan that is new dating back once again to whenever I initially took out of the federal student education loans with a “pays as agreed” status with no belated re payments. They really reveal no re https://loanmaxtitleloans.info payment history in it. My understanding is the fact that this isn’t always the situation with everybody else (obtaining the old tradelines removed), nevertheless the brand brand new tradelines will back date. Theoretically, all they should do is eliminate any remarks showing that the loans had been ever in default, however some do a lot more than that.

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

I stated that unpaid student education loans remain on your credit history indefinitely, and I also’m maybe not which makes it up. Your loans that are rehabbed stay unpaid will always be on the credit history, right? The financial obligation does not disappear completely, and neither does reporting on that financial obligation on your own credit file. After rehab, your debt simply gets a servicer that is new 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 information on it ever having held it’s place in standard is requried to disappear completely for legal reasons. Any kind of deraugatories removed 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 late re 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 brand new tradelines for every defaulted loan you will get rehabbed whenever it gets a brand new servicer. It is pretty awesome.

800+ for several 3 CRAs.

Took 4 years after rehabbing a number of defaulted figuratively speaking, but completely worth every penny.

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We assumed you had been referencing the post above you that suggested rehabbing as an alternative. My error.

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 home loan ratings: EQ-681 TU-655 EX-648
Goal: all FICO8s above 700

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I really do not know in the event that OP will be in a position to rehab te loan in concern. Whether or not it’s a qualifying loan kind, i’d bet as it had never defaulted before that he could so long. You can easily just rehab a qualifying loan as soon as.

800+ for many 3 CRAs.

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

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The hell out of you until it is paid off while some Student Loans (Stafford) cannot be reported after 7, they can tax intercept.

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

That literally means they could sieze your checking and cost savings records, genuine home, and so forth, in the event that you get a long time.

I happened to be significantly lucky, as 1 / 2 of my education loan 15 years back that I experienced deferred after which been making repayments on, ended up being forgiven because of the University being sued for fraudulence.

So my education loan reports reveal because paid as agreed (moved to a different workplace) from the time they certainly were forgiven.

They disappear quickly, so bye bye free cheap bump ever sold, 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 kinds of Federal Student Loans (Perkins) are resistant through the 7 year guideline and certainly will arrive literally forever since happens to be stated before.

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