How much did your scores drop when you defaulted? I just finished my rehab program and I'm trying to figure out what shape I'll be in in a month or two to refinance my car- Thanks!!
I think when you finish rehab they are supposed to delete all negative information. When that happens, your score should go up a good bit, assuming that you have other good tradelines.
I hope so, I checked this past week and I'm at: EQ- 580 TU- 586 EX- 601 Which is a good bit further up than the upper 400's that I was at before I started paying EVERYTHING off and starting Rehab at the same time 13 months ago... AND I've been ontime with all my payments for 18 months - before that I had a bunch of 120 past dues and such.
Guys, The loan will come outta default but they may or may not delete all the negatives and according to the HEA they only have to take it outta default and it will be back in good standings. Most companies will delete the negatives but some will not. Just be persistant. I still have 2 negatives on Equifax for SL rehabs. They are listed as R-1s but the lates still show.
