Consolidating defaulted private loan

by  |  26-Dec-2016 03:58

Borrowing money to pay for higher education is becoming more expensive.

In July, interest rates will climb on the federal loans students take on to pay for college this fall. If you're heading off to college, prepare to dig a little deeper into your pockets.

On July 1, the three credit reporting companies will stop using some records that are especially damaging to credit scores: tax liens and civil...

consolidating defaulted private loan-90

You will have to go through a process called rehabilitation.

You do this by contacting the servicer, the entity you probably see with an 800 number on your student loan bills.

Borrowers will no longer be considered in default once the loans have been consolidated, White said.

If you have already consolidated your loans in the past, and defaulted, you are probably going to have to follow another option.

Contact a student loan professional and discuss your consolidation options today.

Community Discussion