student loan info

Date: Tue, 01/09/2007 - 18:21

Submitted by anonymous
on Tue, 01/09/2007 - 18:21

Posts: 202330 Credits: [Donate]

Total Replies: 3

student loan info

when you elect to compromise on a student loan that is in collections, reducing the total by paying it in one lump sum... what are the drawbacks to this? (how does it affect your credit rating and suchforth) thank you

I do not know the answer to your question (even though I have st

I do not know the answer to your question (even though I have student loans, but not in collections). However, there is a forum on this site that deals solely with student loans. Give it a look and pose your question there. Good luck!

lrhall41

Submitted by Lorri on Tue, 01/09/2007 - 19:26

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Debt collector will be marking your student loans in collections

Debt collector will be marking your student loans in collections with the credit bureau. It is the same like any other debts showing your credit in a derogative manner. Besides, settling the debt in less than actual delivers R9 rating. In my view, try to deal with the Dept of Education and make payment arrangements with them.

lrhall41

Submitted by Trenity on Wed, 01/10/2007 - 09:29

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FYI...if your account is assigned to CA, you do not have any cho

FYI...if your account is assigned to CA, you do not have any choice to work with the guarantor or DOE.

When you settle on your student loan, it may reflect as settled. It will still be a negative rating. Keep in mind that you will receive a 1099 for anything written off and you will have to file it with your taxes next year.

lrhall41

Submitted by SOAPLADY on Thu, 02/08/2007 - 21:33

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