Perkins Loan Default and repayment questions

[kimura]

Hello everyone,

 

At the end of August I got a notice demanding payment for my Perkins Loan or it would go into collection. Being out of a jobs ince college (money well spent there) made it impossible to make payments, even though they loan itself isn't very big. I tried to contact them twice by phone, but I couldn't figure out how to get a hold of a real person. Long story short I got a default notice. This really stinks because I got the notice just as I was about to start a job I was finally able to get. Now it's been about a month and a half. I will have the money to pay the loan off in full by next week, and I'm not sure what to do.

 

Basically, I want to pay it off and get it done , over with, and out of my life. My biggest concern is the default mark or whatever and its negative effect on my credit score for 7 years. Is there any way to get that removed? If I can actually get a hold of them by phone would it be possible that they might be able to work that out? I really don't want ruined credit.

 

Thanks in advance.

[virtualtreasure]

b4 paying first contact your school and see if they will rehab the loan. this typically consists of an agt. to make on time payments for 9-12 mos. in exchange they'll remove the negative information that is reporting.

 

the goal is to fully repay and kiss goodbye -yes, but how you do it can make the difference between an unblemished TL and a neg TL reporting for the entire permissible period of 7 years.