I have a student loan, a little over 2k that I'm in default on. Can anyone suggest the best way for me to re-pay this loan that is the most beneficial to me? What I am looking for is removal of the negative item on my credit report, beginning regular monthly payments that will report as a positive trade line on my reports and possible removal of late/collection fee's. Any response will be appreciated.
Student loans is not a part of my business, but I understand they can be rehabilitated with twelve on-time payments, and that this erases the negatives on the credit report. I understand Fla-tan does them, so maybe he can give more specific information.
http://www.edfund.org/students/studentpar.cfm?edfPage=/students/defaulted/pay/rehab.html# You can request to have your loan "Rehabilitated". Once you have paid 12 months on time in the program, your loan will be restored to a non-default status and all negative credit remarks will be removed from your credit reports.
Not totally true - they only have to remove the 'default' from the credit report - not the previous late pays. You can ask them to, but they dont have to agree to.
