Student Loan’s Discharge Question? Update

Dec 022011
 

Good afternoon,

 

I can get my student loans discharge, because I became permanent disable with the Veterans Affairs. A total of only 9000 can be discharged. The question I have is, if I do discharge those will it negative impact my credit report? Will the trade line be erased? Will the trade line be noted or labeled as discharge or something to that effect on my credit report and will that impact my FICO or will I have to write an explanation to creditors. By the way if they will be decreased it will give me a higher AAoA, but lower my credit mix.

 

Thanks in advance

student loans
byEmbajada de Estados Unidos en Bolivia

doesn’t the money go to the University? and you never receive it?

do students borrow a maximum amount in student loans so they keep the leftovers to pay their apartment bill and/or living expenses?

Need To Improve Credit Score

Mar 222011
 

Hello Everybody,

 

Well my name is Lily and I am here because I need advice on impoving my Credit Score.

My parents are in DEBT and they are loosing our home the only hope we have is Refinancing, My father wants me to give it a try. I am the only one with a Decent Credit Score.

 

My Fico is 585.

 

The only problem is that i have credit card debt, i have never been late or missed any payments. the problem is that i have used more than my 30% on the cards.

I am carrying a balance on probably 10 cards.

 

Recently one of my dogs got sick and we couldnt affor the vet bill so i applied for several cards and i believe that had a negative impact on my credit.

 

can someone give me advice on how or what will help me  improve my credit.

 

Thank you very much.

 

BTW: My total debt is about: $7,000 (credit Cards) and i have an auto loan of ($19,000)

How does student loan works?

Mar 012011
 

I am newbee to this section and would like to know how the student loan works. I have a 19 year old daugther and she is going to be sophmore in the college this september. We will get some scholarship from school and we have to pay some from the pocket. Even if she gets the loan, I’ll be one paying off the loan on her behalf.

 

1. Can she get a student loan on her own or do they require parents to co-sign for the loan?

2. She having good fico scores obviously helps. But are they considered when she is applying for student loan?

3. What are the differences between private student loans and govt backed student loans. If he want to apply for the govt backed student loan is there any requirement for parents and income?

4. If parents has income does it prohibits her or disqualifies for the loan?

 

Though my wife works she does not make any contribution to my daugthers school fund. I am the only one whos has to pay for it. I dont mind at all. I want to make sure there are options available to help with my cash flow situation.

 

Last year I paid about 40k from my pocket and I would assume it would be the same again this year. I dont mind paying for it, I just wnat to make sure my cash flow situation does not make negative impact for financing her education.

 

Any advice and suggestions for me?

Defaulted loan paid off. What to expect in credit report?

Dec 222010
 

I paid off my defaulted loan in August of this year, and want to know what changes I should see in the credit report? I’ve read in various post that the item will stay on the report for 7 years, but reported as zero balance. It is unclear to me whether the item will fall off at all (I assume no), and whether this will continue to have a negative impact to my score?

 

Thanks!

I went through Consumer Credit to pay off CCs but my accounts show up flagged in my CRs

Jul 122010
 

Depending on which one you look at, they show up as having been delinquent for a number of years before my final payoff date in 2008.

 

While I was working on repayment my debt was sold from one company to another. It took months for the new company to set up my account and renegotiate with my creditors. In fact, I had to track down the new company and get on them month after month to set up the process. In the meantime, I paid most of the accounts directly. I have no records of this, however. Once I paid off my accounts I shredded all of the documents assuming everything was over and done with.

 

When I became aware a year or so ago that these were showing up as “bad” accounts (primarily 2 that I had with B of A) I called both the consumer credit company and Bank of America. B of A gave me a 2 hour runaround while I tried to get to someone who could talk to me about it. Basically, they told me that since my account had been closed they had no records of my payment history.

 

This is having a serious impact on my credit score. My understanding is that going through consumer credit counseling – during which time I did not miss a single payment – was supposed to improve my credit in the long run.

 

It’s frustrating that I made an effort to pay these accounts off in a timely manner as agreed upon with CCCA in 2004, paid them off in full in 2008, and yet they are having a negative impact on my score. The company my account was sold to has not been helpful.

 

Any advice as to how to get this rectified would really be appreciated.

 

I’m so close to having a Very Good credit rating – this mess and one stupid parking ticket are the only things standing in my way. Otherwise I’m in the Great and Very Good categories. UGH

 

 

how to improve your credit score.

Feb 212010
 

I read this statement in the “how to improve your credit score”  article. 

 

  • Pay off your bills on time. Delinquent payments, even if only a few days late, and collections can have a major negative impact on your FICO score.

    •  

    I just want to make sure I’m clear on this.  I thought it would only be reported as late if I’m 30 days or more late with my payment.  Could someone let me know if my thinking is off track. As there is one bill that I always pay later than the due date, but always before the 30 day deadline.  Am I hurting my score by doing this?

    Does request of Auto insurance quote have any negative effect ?

    Jan 262010
     


    My current car insurance, and all countries. I am looking for a similar policy, the insurance again, at low cost. Want to shop online to see if there is a better deal. Ask for quote car insurance have a negative impact on my credit (they need to take my credit score, I have a very good), or other adverse effects. Thank you very much!

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