2006-07-12 16:46:37 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Pay it.
2006-07-12 16:49:58 · answer #1 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
Contact an agency who consolidates defaulted student loans (William D. Ford is a good one). You will need to get into the student loan rehabilitation program for 12 months. Once you consolidate your loans, make sure you PAY them on time from now on. After twelve (12) months of paying the loans on time, you will be out of default status. This is an excellent way to rebuild your credit because student loan default RUINS your credit and you won't be able to purchase large items (such as a home). Please keep in mind, once your student loans have been successfully rehabilitated, prior delinquencies on your credit report suppose to be removed (read the higher education act of 1965 and the 1998 admendment). You can also go to http://www.carreonandassociates.com to read further information on defaulted loans. Good Luck
2006-07-15 13:51:57 · answer #2 · answered by Shay 4 · 0⤊ 0⤋
contact your loan holder and ask for a forbearance or deferment if you have been in contact they will usually help you out
2006-07-12 23:51:52 · answer #3 · answered by monkeydoboofoo 2 · 0⤊ 0⤋
pay it, you will never buy a house or get an IRS refund with that over your head
2006-07-13 00:02:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There is some useful tips here.
2006-07-13 03:16:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋