STUDENT LOAN & FICO

[Jazzy Bmw]

How would a student loan affect my fico, I owe about 5,600 and that is showing in default until after my BK is discharged and then it will report as current never late. Will this look like a positive TL or is it exclude from FICO. Just curious as to how it will impact my rebuilding. Thanx Jazzy~

[direred]

Student loans aren't discharged in BK except in extremely special circumstances.

[breeze]

moving to student loan forum

[Jazzy Bmw]

Student loans aren't discharged in BK except in extremely special circumstances.

Yes, I know that. The lady at ACS said that they always put SL's in a default status while ur under BK and once it's discharge it goes back to report correctly as I am current and have never been late. It is just a formality. My question was when my SL starts reporting correctly as it will when BK discharges how will it affect my fico. Is it treated as a TL or how is it counted. Thanks Jazzy~

[aluminumfalcon]

It will report as an installment account and have very little influence on FICO scores.

I would be surprised if the impact was more than + or - 10 points.

Good luck rebuilding, I know it is tough. Wish you the best!