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So I finally got a job in which I can start to pay off my loans. Hurray! I am in a rehabilitation program on one of my loans but have two others I have completely ignored. I, however, am in a position to completely pay off one of the loans I ignored. Should I just send them the money immediately to get it out of the way or call them up and ask to be put on a rehabilitation program in order to get the default removal perks. From what I understand, by going into a rehabilitation program I get the default removed from my credit report, but if I simply paid them now I would have a "closed-paid" with the default still rearing it's ugly head. Do I have that correct in my head? What would be the best course of action? George H.W. Cunt fucked around with this message at 02:03 on Jan 31, 2013 |
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Jan 31, 2013 02:00
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| # ¿ May 20, 2024 17:06 |
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Once I send in the paperwork and have my lender transferred ill be off rehabilitation and able to pay off one loan in full.  One down, two to go. Now to decide if its worth it to pay off the other two super aggressively or try for rehabilitation on the other two for maximum credit repair. Thoughts?
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Mar 6, 2013 22:08
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Turns out my other two loans were private by SM so no rehabilitation for me. Ah well. There are two offers that I'm being given by the collection agency(Integrity Financial).First is an offer of having my interest bumped down to essential 0% which for a loan sitting at 10% is pretty enticing. The other offer is a lump settlement of 12,000 of the loans total of 17,000. What are the chances of being able to maybe bump that lower and/or fight for a pay for delete. If I can haggle to 50% settlement that'd be peachy keen. Is pay for delete even possible since they aren't "technically" government student loan?
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Mar 8, 2013 05:29
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Hat Butt posted:sorry if this question has been asked before, but can you start paying off parts of your loan while still attending school? [Subsidized loan if that makes a difference] Yes and you should do so if at all possible. Your loan will have zero interest while you're in school so getting a head start will greatly aid you in repaying it once the inevitable deferment time is up. Compound interest is the greatest force in the universe after all so it's best you don't have to fight it for as long. George H.W. Cunt fucked around with this message at 20:53 on Apr 8, 2013 |
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Apr 8, 2013 20:48
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So I was able to get a settlement offer on my larger student loan of $17,000 to the tune of an $8,000 lump sum. It's actually 2,000 less than the original principal so that's kinda cool. No pay for delete but at this point getting out from under it fully after defaulting and wrecking my credit history for a while is more important to me right now. Turns out my other loan of $4,200 that just recently completed rehabilitation is going to be able to be paid off by June 1 if I keep throwing money at it like an addicted gambler. I could be debt free in exactly one month. This is actually happening.
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May 2, 2013 04:34
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Smoking Crow posted:Hey, I'm in kind of a bind. I recently transferred from one university to another, and I was told that If I drop below full-time (12 credit hours), I will need to start paying student loans. This includes summer. Currently, I'm having medical issues that will make taking 12 hours over 7 weeks impossible. What's my freedom here? Will I be able to drop below full-time without having to pay back my loans? I want to take classes, but I'm not sure. You should have a grace period for about 6 months or so once you graduate or drop from full time student status. This grace period will be reset once you start school again. I'd call your loan people to be sure though.
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May 31, 2013 21:49
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It is over. Holy poo poo what a relief this is to have loans paid off. My credit is most going to be wrecked for a bit from being dirty poor before, but I'll manage. No loans!
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Jun 4, 2013 12:26
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| # ¿ May 20, 2024 17:06 |
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Asked this in another thread but has anyone had luck with a goodwill deletion from Sallie Mae for late payment notices on your credit report? My loans have been settled for 2 years now and I'd love to see if I could get those marks taken off
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Jan 14, 2015 18:34
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