cancel
Showing results for 
Search instead for 
Did you mean: 

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

tag
johnnyscience
Member

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

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.

Starting Equifax Score 5/12/14: 585
Starting Transunion Score 5/12/14: 553
Starting Experian Score 5/12/14: 544
Goal Score: 680-700
Message 1 of 3
2 REPLIES 2
SCF
Valued Contributor

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

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. 

Message 2 of 3
Luscher
Valued Contributor

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

the only thing that would improve imo is DTI
CHASE FREEDOM | AMEX BCE | | BOFA REWARDS | CITI TYP | Quicksilver | DISCOVER IT | Sallie Mae | CHASE CSP
--------$32,000-------------$30,000-----------$30,000-----------$30,000-----$13,000---------$18,200----------$15,000---------$6,500----

FICO - TU: 780 EX: 784 EQ: 781
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.