Do you have Student Loans? When is the last time you checked your Credit Report? Is your Student Loan Reporting past Late Payments on your Credit? Then this is the article for you. Millions of people have student loans and often times, the federally backed Student Loans will report past Late Payments when the loan is supposed to be in Deferment. How to remove Student Loan Late Payments from your Credit Report Video:
How to Remove Student Loan Late Payments From Your Credit…
If you have student loans that are reporting incorrect late payments on your Credit Report that you believe to be inaccurate or unverifiable, we may be able to help! Schedule a FREE Credit Consultation Here. Student Loans have special rules, especially if they are backed by the Federal Government. In some cases, your Federal Student Loans can be forgiven 100% and you don’t have to pay, as stated here on a Government Website.
Student Loan Payment Forgiveness Program
Often times, you can call your lender (mainly Federal Student Lenders) and ask about their Late Payment Forgiveness Program. Usually they will remove all past late payments from your credit report after you have made 9 on-time payments.
This takes some effort, but it’s worth it! Late payments, especially ones that are 90 days late, are really devastating to your Credit Score. Normally, late payments stay on your Credit Report for up to 7 years, but only 90 day late payments lower your score for the full 7 year duration. But Federally Backed Student Loans Can stay on your credit indefinitely if you don’t work out a repayment plan. Recently, in Texas, there was a man that was arrested for not paying his student loan. Article. So we are highly recommending that you get in contact with your lender, because it could be beneficial for you and for your credit.
Call Your Student Loan Company
Before you go looking around for a Student Loan Consolidation Company, reach out to the original creditor of your Student Loan (Even if it’s in collections). Ask the operator what your options are and get setup on the program they offer you. If you are still unemployed or struggling to pay your bills, there may be options for you through the link above to the Federal Government’s Website. We hope that you make wise financial decisions and our goal is to help you get there.
Stay motivated and do what is best for you and your family. Student Loans can be daunting, but there may be options available to you that you didn’t know where available. The first step is to make the call.
