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HELP-Navient called and my student loan defaulted AGAIN...

Regular Contributor

HELP-Navient called and my student loan defaulted AGAIN...

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? 

 

Advice please!

 

By the way this is a private loan.


Starting Score: 520
Current Score: 627
Goal Score: 700


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3 REPLIES
Valued Contributor

Re: HELP-Navient called and my student loan defaulted AGAIN...

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.


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 2 of 4
Frequent Contributor

Re: HELP-Navient called and my student loan defaulted AGAIN...

Was it Navient or a 3rd party debt collector acting on Navient's behalf?
Message 3 of 4
Regular Contributor

Re: HELP-Navient called and my student loan defaulted AGAIN...

It am pretty sure it was navient. But maybe I should check again. It was a while ago that I got the call...

Starting Score: 520
Current Score: 627
Goal Score: 700


Take the FICO Fitness Challenge

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