Rehab semantics & process for Perkins

[Anonymous]

Great information ex-officer!

"You do not come out of rehab but entering into it when you make the 9th payment.....technicially  you are making  payments  to qualify for your loan to be rehabbed.  Semantics  I know,   Your loan is not rehabbed until the new lender pays off your defaulted guarantor and that can take from 15-60 days .  Then your guarantor has 90 days to change your credit report..  Keep in mind that a 10th payment could be required."

Is the process the same for the 12 payment Perkins loan? Is there a way to tactfully get it done faster??xml:namespace prefix = o ns = "urn:schemas-microsoft-comfficeffice" />

 Cuicaboy

[LynnInMN]

Correct...12 payments for Perkins.  And no, you cannot speed it up.  The payments are basically a test method, to determine whether you are capable and willing to make payments on time.