should I default?

[drkaje]

It's not fair but companies would have never gotten the money without offering defaulters a clean slate.

Honestly, I'd try asking/writing up the chain. I'd also ask them to put in writing that the only option you have is strategic default.

[cracksmeup]

Just a point of clarification.  The student loan rehabilitation process is by no means a "get out of jail free card".  I successfully rehabbed my loans 2 years ago.  The derogatory remarks DO NOT go away, the only thing that is removed is the defaulted status.  My credit report still lists all of my previous loans as having a zero balance, but 120+days lates.  I was grateful for the chance to rehab, and still am, but was by know means given a clean slate. 

[jcstarkey8826]

---

@cracksmeup wrote:

Just a point of clarification.  The student loan rehabilitation process is by no means a "get out of jail free card".  I successfully rehabbed my loans 2 years ago.  The derogatory remarks DO NOT go away, the only thing that is removed is the defaulted status.  My credit report still lists all of my previous loans as having a zero balance, but 120+days lates.  I was grateful for the chance to rehab, and still am, but was by know means given a clean slate. 

---

I guess they differ somehow. My sister did a rehab with mohela and got a clean slate, nothing negative continued reporting. lates, status, etc. everything was cleared away.

Ive also read many others posts in the SL section claiming the same. Guess each lender may be different, but I know mohela clears all negatives previously reported.

[Anonymous]

I'm not trying to be TMI, but honestly? I got behind when my child was diagnosed with cancer. I always intended to pay it, but her illness was devastating financially. She's fine now, but had treatment at hospitals in three different states. I never plotted to screw the system or anything like that; I was just in waaaaay over my head.

I know I could have made smarter decisions, but the past is the past and beating myself up isn't going to help.

I know the grass may look greener over here in RehabLand, but it really isn't. If you look at my history as a whole, it's not one to envy.

[jcstarkey8826]

---

@Anonymous wrote:

I'm not trying to be TMI, but honestly? I got behind when my child was diagnosed with cancer. I always intended to pay it, but her illness was devastating financially. She's fine now, but had treatment at hospitals in three different states. I never plotted to screw the system or anything like that; I was just in waaaaay over my head.

I know I could have made smarter decisions, but the past is the past and beating myself up isn't going to help.

I know the grass may look greener over here in RehabLand, but it really isn't. If you look at my history as a whole, it's not one to envy.

---

First off, thats tragic to have to go through what you did to begin with. You should be able to rehab all of your debt!!! Im glad things worked out and health is priority. I think anyone would go into a mountain of debt for their child.

That being said, I dont think people shouldnt be able to rehab their loans. Im just wishing more people were able to do the same thing and clear up some derogs, but like I said, I'll just sit back and wait until the 2 year mark is finished. Best of luck with yours!