As stated in earlier posts, DH's perkins loan is with a CA right now. They stated they will not rehab, and we contacted the University of SD where DH attended in 1996. They are saying they refuse to rehab as it has been to 4 different CAs. Can they do that? Also, I called Direct Loans to see about consolidating the rehabbed Stafford Loans with the defaulted Perkins loan and if that would make his credit report look bad as the Perkins was still defaulted. They said they would pay off the loan, but it would still show in default. Am I missing something, here? I may be just not getting it and I apologize, but I guess all I am worried about is if the new consolidated loan would be a negative on his CR because the Perkins was defaulted even though the Staffords are not. I can deal with the tradeline for the Perkins only being defaulted if there is no other way around it if the school can refuse to rehab. Thank you for reading.
poeism13
Full Version: The Saga Continues.......
QUOTE(poeism13 @ Feb 8 2006, 01:08 PM) 
As stated in earlier posts, DH's perkins loan is with a CA right now. They stated they will not rehab, and we contacted the University of SD where DH attended in 1996. They are saying they refuse to rehab as it has been to 4 different CAs.
I think it depends on the balance and if it has become a judgement account. Since the school holds responsiblity for your Perkins, I believe they have more say.
Can they do that? Also, I called Direct Loans to see about consolidating the rehabbed Stafford Loans with the defaulted Perkins loan and if that would make his credit report look bad as the Perkins was still defaulted. They said they would pay off the loan, but it would still show in default.
If his staffords have been rehabbed, that lender will remove the negative tradelines. If you consolidate the defaulted Perkins, the Perkins will reflect default and zero balance. The consolidation will show as a fresh and clean tradeline.
Am I missing something, here? I may be just not getting it and I apologize, but I guess all I am worried about is if the new consolidated loan would be a negative on his CR because the Perkins was defaulted even though the Staffords are not. I can deal with the tradeline for the Perkins only being defaulted if there is no other way around it if the school can refuse to rehab. Thank you for reading.
poeism13
I think it depends on the balance and if it has become a judgement account. Since the school holds responsiblity for your Perkins, I believe they have more say.
Can they do that? Also, I called Direct Loans to see about consolidating the rehabbed Stafford Loans with the defaulted Perkins loan and if that would make his credit report look bad as the Perkins was still defaulted. They said they would pay off the loan, but it would still show in default.
If his staffords have been rehabbed, that lender will remove the negative tradelines. If you consolidate the defaulted Perkins, the Perkins will reflect default and zero balance. The consolidation will show as a fresh and clean tradeline.
Am I missing something, here? I may be just not getting it and I apologize, but I guess all I am worried about is if the new consolidated loan would be a negative on his CR because the Perkins was defaulted even though the Staffords are not. I can deal with the tradeline for the Perkins only being defaulted if there is no other way around it if the school can refuse to rehab. Thank you for reading.
poeism13
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