student loan has been deferred but..

Date: Sat, 05/16/2009 - 18:24

Submitted by anonymous
on Sat, 05/16/2009 - 18:24

Posts: 202330 Credits: [Donate]

Total Replies: 4

student loan has been deferred but..

when a student loan goes into deferr or forbearance and the amount of the loan balloons from interest up beyond the original loan amount..does that negatively effect your credit score?

As far as I know, forbearance does not affect your credit score

As far as I know, forbearance does not affect your credit score because under this agreement, the creditor allows you to delay your payments for a certain period of time, and so they does not report the debt to the bureaus.

lrhall41

Submitted by novice on Sat, 05/23/2009 - 03:08

( Posts: 290 | Credits: )

loans

NOVICE is correct..while your Student loan is in a 'Hardship' or 'Forbearance', nothing is reported to your CR. Yes...the % still accumulates on the loan. I have a Student loan, myself. I DID have my loan in 'Forbearance' at one time. Can you tell me how long your 'Forbearance' is? Who is your lender?

lrhall41

Submitted by sdchargers_63 on Sat, 05/23/2009 - 06:10

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my forbearance is up in june..but now the balance reported(is ac

my forbearance is up in june..but now the balance reported(is accurate) is higher than the original loan balance. Does this over-limit hurt my credit score?

lrhall41

Submitted by anonymous on Tue, 05/26/2009 - 10:02

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debt

No.......it does NOT hurt your credit in the least!! I'll tell ya why. Cuz it's like you have your loan on an 'Inactive Status' kind of thing. The CB's can't fault you for having a loan Deferred and it's STILL in 'good standing'. Hope this answers your question.

lrhall41

Submitted by sdchargers_63 on Tue, 05/26/2009 - 18:31

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