Senior Contributor
Posts: 3,494
Registered: ‎05-25-2008
Re: Student loans in default! Advice please?

bubbles0605 wrote:
I defaulted b/c I was in a financial crisis for a little bit. The letter says I am 180 days behind.
I dont undertsand WHY I cant become current ever again. Doesnt make sense to me.
I was in one class this past semester but had to withdraw b/c of a family illness.

AFAIK, you CAN become current. It will just have to have happen after you've rehabbed your loans. I am assuming that these are Federal loans?

According to the 1998 amendment to the HEA, you default after 270 days, not 180. And even then, it often takes several more days for the servicer/lender to file a claim with the DoE (or guarantor, depending on the loan).

Are you SURE you've completely defaulted? And it wasn't just a warning letter stating that you were in DANGER of defaulting????

Can you post a snippet or two from the letter ... specifically the paragraphs that lead you to believe you've actually defaulted (and aren't "just" in danger of defaulting)?


Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!