topic Re: student loan question in Student Loans

student loan question

Anonymous — Tue, 05 May 2015 23:19:18 GMT

I called earlier about trying to catch up my student loan and have it taken off my credit history. That was a no go. The lady told me that if i pay it in full It will go to account in good standing. Im 290 days late on it. She said i was about to default on it and it go into forbearance. Which i do not want since im trying to buy a house. So she said i pay it in full and get it in good standing and that will help alot. Anybody had success with getting student loans removed? Or any advice? Maybe something im not thinking of?

Re: student loan question

Anonymous — Tue, 05 May 2015 23:21:02 GMT

@Anonymous wrote:
I called earlier about trying to catch up my student loan and have it taken off my credit history. That was a no go. The lady told me that if i pay it in full It will go to account in good standing. Im 290 days late on it. She said i was about to default on it and it go into forbearance. Which i do not want since im trying to buy a house. So she said i pay it in full and get it in good standing and that will help alot. Anybody had success with getting student loans removed? Or any advice? Maybe something im not thinking of?

That makes no sense.

Re: student loan question

Pway — Tue, 05 May 2015 23:30:13 GMT

I don't think one can remove tradelines from student loans. Maybe someone can chime in with more knowledge.

Re: student loan question

Anonymous — Tue, 05 May 2015 23:36:04 GMT

I think you mean defaulted vs. forbearance? Your account will go to 'good standing' if you pay if off but the delinquencies wiill still remain on your credit report.

Re: student loan question

Anonymous — Tue, 05 May 2015 23:46:47 GMT

I have no knowledge in this area unfortunately. Im going to research more about it tonight To see what my best option is going to be.

Re: student loan question

SCF — Thu, 07 May 2015 03:30:22 GMT

If your loan is 290 days past due, it is probably about to go into to default. Are these federal or private loans?

You should not let the loan default. If these are private loans, there is no way to "fix" the default or gaurentee it's removal from your credit. If these are federal, defaulting isn't as dire, but it still does serious damage to your credit and it takes 9 months to complete rehab to repair just some of the damage. Having a federal loan in default will also prevent you from getting an FHA or VA mortgage (and most other mortgages, just based on the damage to your credit).

Why haven't you been paying? If you want to buy a house, you need to correct the cause. If these are federal loans, you should contact your lender and ask them to help you bring the loan current and set up an income-driven payment plan (IBR, or PAYE if you qualify for it) to keep your payments reasonable.

Edit to add: There is no certain way to just make student loans (or any negative item) just disappear from your credit report. Depending on the situation, a goodwill or pay-for-delete may result in a lender removing some negative information, but you can't count on those things.