Student Loan in Forebearance

[Sanitizer]

Does anyone know the answer to this?

 

(And please save yourself the time telling me to post in the SL forum; I already have posted this in there, but have not received a response. )

 

Thanks in advance...

[JerseyBaby]

I suppose the answer depends on how it's showing on your reports.

[TeeSharice]

Mine was in forebearance until Feb..It was UNRATED status...Made my 1st payment 2 weeks ago...cant wait to see the score effect when it becaomes active again

[Cheech]

Link to duplicate post - http://creditboards.com/forums/index.php?showtopic=86320

[Sanitizer]

Thanks, Cheech! Sorry for being impatient. I needed an answer sooner rather than later.

[Cheech]

Naw, that's cool - didn't know it was urgent. Hey, you tell me the winning lotto numbers and I'll answer student loan questions all day long.. LOL.

 

Oh well, lunch is over, time for another meeting.

[TeeSharice]

Heyyyyyyyyyyyyyyyyyyyyyyyyyyyyy Cheech!!! When did ya become forum lead!! Dang...Ive been missing a lot!!!

 

CONGRATS!!! dang we gotta find time to chat....

[daisy]

I was told that deferrment is neutral--HOWEVER--I found that after I had made a few months of on-time payments my score rose quite a bit.

[thestudentisready]

As far as I can tell, it doesn't affect FICO. I could see on manual review how one might wonder WHY it's in forebarence.

[MistakeOfPast]

Good Question, as I am in same situation.

No payment due until next year.

Am making my last payment under the "rehabilitation" program to have the negative marks removed as I defaulted.

 

Anyone know how long it takes to have reports cleared?

[Sanitizer]

1. So, how do you know you're in default?

2. I know what it means to default, but w/ respect to SL's, does default mean that the GOV steps in, wages are garnished, lawsuits are threatened?

3.I have a spotty history with several lates, as late as 180, but none beyond that. Did I "officially default"?

4. And do I need to consider rehab? What would that do for me? (Most of my problems TL's for SL's are nearing (or at) the 7 yr mark. The newest TL's have some negatives, but the others are falling off.)

[Cheech]

I hate to be a booboohead, but would y'all mind cross-posting in the student loan forum? This is turning into 3 threads and I haven't figured out how (or if I even can) move threads yet.

 

I really would rather that this info be a searchable resource in the student loan forum - just for those who come after with the same questions. I'd really appreciate it - and I promise all us student loan regulars will try to help.

[Sanitizer]

Sorry. I fixed my part now.