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many borrow to go away to out of town schools they can't afford instead of staying local . then they get degrees in areas that pay little or are pretty much useless in the job world . then they complain .
Hint for the future: If you can't pay the bill, don't take out the loan.
Hint for the present: If you're having trouble paying your student loans, work with your lender! Be proactive about the problem, and the issue will do less damage to your credit score.
Is it possible to pay a company to remove the negative items from your report ........
Oh my goodness, yes. You certainly can pay someone to get those "lates" and "Non-payments" off your credit report. The person you pay is the company who holds the note for your loan. You pay the whole thing off, but here is the trick. You negotiate to pay it all on the grounds that when you do, they will report that is has been completely paid leaving a zero balance. You might possibly be able to negotiate that after it is all paid off and reported to be all paid off that you can challenge the entry and they won't respond when contacted by the credit bureau. I think that is less likely, but even just having your credet report showing that the loan is fully paid will do you a lot of good.
Is it possible to pay a company to remove the negative items from your report or would I have to write a letter in order to get student loans off of my credit?
This is really unfair and wrong how student loans can affect us college grads when we're just in our f*cking 20s. Excuse the language but I need an answer as to whether or not it's even ethical for student loans to be reported to the credit bureau.
If you have federal student loans, you can CONSOLIDATE them to one NEW loan, even if you are currently in default on your federal student loan(s).
If you are in default, in order to consolidate you MUST agree to enter an "income driven" repayment plan, of which there are several options.
The catch is that you get only ONE bite at the consolidation apple; if you default on a consolidation loan, you are basically down a creek until you pay off the loan in full.
The advantages of consolidating are:
1) for those in default, it allows them to get out of default and into income-driven repayment at the same time, which saves the borrower a ton of money compared with the onerous fees charged to those in default. (If you are in default, you are not eligible for income-based repayment UNLESS you consolidate.)
2) income-driven repayment plans do not require a monthly payment until the borrower's income exceeds 150% of federal poverty guidelines. Currently, no payments are required until the borrower's income exceeds $17,820 per year or $1485 per month. You do have to go through an income redetermination once a year to adjust your required monthly payment.
Is it possible to pay a company to remove the negative items from your report or would I have to write a letter in order to get student loans off of my credit?
This is really unfair and wrong how student loans can affect us college grads when we're just in our f*cking 20s. Excuse the language but I need an answer as to whether or not it's even ethical for student loans to be reported to the credit bureau.
I'm dying to know what you want to get a loan for (assuming you want a loan and aren't just asking out of curiosity).
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