topic Re: Student loans are on deferrment, will starting payments again increase score? in Student Loans

Student loans are on deferrment, will starting payments again increase score?

johnnyscience — Thu, 15 May 2014 17:35:39 GMT

I have 2 different student loans that total around 5k between the two.

They have both been on unemployment deferrment for a couple of years now with some late payments inbetween because of missing the re-deferrment window.

If I take them out of deferrment & start making normal, monthly payments on time, will it start rebuilding my credit & increase my score?

Thanks.

Re: Student loans are on deferrment, will starting payments again increase score?

SCF — Fri, 16 May 2014 00:35:18 GMT

Deferred student loans are not scored differently than loans in repayment. While deferred, your loan reports each month as "paid as agreed," the same way it will report when you start making on-time payments.

Re: Student loans are on deferrment, will starting payments again increase score?

Luscher — Fri, 16 May 2014 06:27:01 GMT

the only thing that would improve imo is DTI