Filing BK tomorrow, need quick info on student loans that were once very late

[Anonymous]

New to this forum, TONS of info. Love it!

Like the subject says, Im filing BK tomorrow (chap 7). Attorney has already said it should be quick and easy. I have a few student loans that I know cant be discahrged. These student loans were at one time 30, 60, 90, 120 days late. THey are now current, (in a deferment).

My question is, when my BK is discharged, and I'm trying to start to rebuild, will these late student loan payments I mentioned hurt my score? Or, will the BK remove the older late payments? Help please, what can I expect?

Thanks

[Anonymous]

Any negative marks prior to filing your BK, stays on your CR.

[Anonymous]

The good news is they will stay in deferrment until after your BK is discharged. I was able to keep mine in deferred for a couple of months out, but have been paying it since.

The bad news is that the lates will remain. I have them too. What's nice is that once you start paying it again, the positives will report as well and every month you get past the late, the less impact it has.

Good luck!

[CH-7-Mission-Accomplished]

You also will have an installment loan, which you need for credit mix, so that is good.  And the student loans will continue to age and add to your average age of accounts for years to come.  This helps because at seven years the accounts that were included in the BK will fall off, so you tend to lose all your old accounts for scoring.