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New Visitor
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Registered: ‎02-08-2017
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student loan settlement vs student loan rehab program.

I have defaulted student loans at about 3000, and was wondering if taking a settlement offer would be more beneficial to my credit score then the rehabilitation program?

any advise?  

Valued Contributor
Posts: 1,057
Registered: ‎02-11-2016

Re: student loan settlement vs student loan rehab program.

Rehab will remove the derogatory info right?

If so I think it makes more sense to rehab and pay. Says the lady with $56k in SL. I'm quite jealous of your $3k! But I understand when a hardship is a hardship no matter the cost.


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Registered: ‎02-17-2017
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Re: student loan settlement vs student loan rehab program.

I would have to agree, rehab sounds like a better option for you since the amount is only $3000

Student Loan Debt Expert
Valued Contributor
Posts: 1,911
Registered: ‎07-16-2013
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Re: student loan settlement vs student loan rehab program.

Rehabilitation is the way to go if you want to minimize the damage to your score.  If you settle you'll just get another negative tradeline.  Rehabbing will give you a new, positive tradeline dating back to the inception of the loan date.

Contributor
Posts: 120
Registered: ‎02-21-2017

Re: student loan settlement vs student loan rehab program.

rehab.  Im doing rehab for 4k in SL and just enrolled today.  My account rep also went over the fact that it will fix your credit.  im only paying 50.00 per month during rehab

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Registered: ‎01-29-2011
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Re: student loan settlement vs student loan rehab program.

How can I get my student loans rehabbed? 120 days past due already.

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Registered: ‎06-23-2010
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Re: student loan settlement vs student loan rehab program.


HigherFico wrote:
How can I get my student loans rehabbed? 120 days past due already.

Here is the info on student loan rehab.

http://www.finaid.org/loans/rehabilitation.phtml 


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