+16 points!!!

[Muff]

Paid OC last month, DV'd CA (merchants credit guide) score jumped 16 points today'!!!! Too bad I have had a student loan default & go into collections this month   $1200 I plan to pay it off next month because I'm repairing my credit. It hasn't hit my CR YET but I know it will, their website specifically says if you want it removed from your CR you have to pay it in full. Which is no problem but will they seriously remove it or should I get it in writing still? What if I set up my payment arrangement will they still hit my credit and remove it after paid? I know I should ask them but I'm afraid to call just yet I was thinking of disputing it right before my 30 days then sending the school half the payment & hoping I can pay other half before the dispute is complete. Any suggestions I rather it not tank my already horrific score 😭

[kjel]

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@Muff wrote:

Paid OC last month, DV'd CA (merchants credit guide) score jumped 16 points today'!!!! Too bad I have had a student loan default & go into collections this month   $1200 I plan to pay it off next month because I'm repairing my credit. It hasn't hit my CR YET but I know it will, their website specifically says if you want it removed from your CR you have to pay it in full. Which is no problem but will they seriously remove it or should I get it in writing still? What if I set up my payment arrangement will they still hit my credit and remove it after paid? I know I should ask them but I'm afraid to call just yet I was thinking of disputing it right before my 30 days then sending the school half the payment & hoping I can pay other half before the dispute is complete. Any suggestions I rather it not tank my already horrific score 😭

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Congrats on the points!

What kind of student loan is it? Whatever you do ask a lot of questions about how they will report it on your credit report if you pay it off. Ideally you want the TL to be deleted, but even if they won't delete it you definitely want the default notation removed from the TL. Take a look at the student loan forum here which is full of good information. Get it in writing.

[Anonymous]

Congrats, Great jump. Maybe you can get the student loan rehabbed before it goes on or go ahead and do a payment plan. Good luck.

[Whitneyy]

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@Anonymous wrote:

Congrats, Great jump. Maybe you can get the student loan rehabbed before it goes on or go ahead and do a payment plan. Good luck.

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I agree with trying rehab since you're in default! It will remove all negative reporting from the reports helping out your score as well once you're done with it! Check out the Student Loans part of this forum.