A very nice gentleman from Navient called and told me that my student loan defaulted-which I already knew but I was waiting for him to call me back. He let me pay $20 to keep the account his department and he asked me how much I could afford each month. I told him an amount and he said sure no problem. He was basically willing to accerpt any amount I told him. He said this that I could pay that for the life of my loan.
What are you ideas on this?
So I'm guessing my students loan will say 'In Default' the entire loan-forever until I am able to settle with them?
Please offer advice and how will this affect my credit in the future? Will I ever be able to get another credit card or put my name on a mortgage or car loan?
By the way this is a private loan.
Have you been through rehabilitation already on that loan? If you have, then unfortunately it can remain on your reports until it is paid in full, past the 7 year exclusion.
I think they key in learning here is that you should call them before it gets to a point where you are defaulting.
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