Defaulting on Student Loans

RE: Defaulting on Student Loans Post by mygaley (14) | (06/12/2006) Contact Why on earth would you want to default on a contract that you requested, that benefited you and only you, and no one twisted your arm to sign it? RE: Defaulting on Student Loans Post by meoowmom (933) | (06/01/2006) Contact No I would not risk it and what if you need to return to US in case of emergency, someone dies or something like that and you are BARRED from entering the US is it worth the risk? BE RESPONSIBLE, you took the loan out and you need to pay. Not paying is denying others who really need the loans. Just work something out to pay monthly. RE: Defaulting on Student Loans Post by cookwie (540) | (06/01/2006) Profile | Contact It will mess up your credit rating horribly. The loan program would rather work something out with you over the long term than have you default and possibly even go after your estate in the future, RE: Does Defaulting on Student Loans Post By Annie (Guest Post) (05/31/2006) Why don't you be responsible and re-pay your loans. Then you won't have any problems with credit. RE: Does Defaulting on Student Loans Post By Ronsan (Guest Post) (05/30/2006) I agree with meravbohr but want to emphasize emphatically how seriously it can mess up your credit! Our daughter kept putting off and putting off repayment of her student loans and by the time she told us about it, it was in default and it took a lot of time and energy and $$$ to get the problem corrected. Just paying the amount due is the easiest part! That black mark will follow you for years and years unless you get a letter from the servicing agency for the student loans that states it has been paid off, is notarized, and even then you are going to have to be presenting that letter at every opportunity when you are looking for credit of any kind. Every single business that deals in credit, whether small or large, is going to present a problem. On a happier note, you can negiotate the balances due with the collection agency pursueing the defaulted student loans and perhaps get it reduced if you are in a position to pay the negiotated balance immediately. These types of collection agencies are persistent, to say the least, so don't put it off. At least try to work with them! RE: Does Defaulting on Student Loans Post by meravbohr (2) | (05/29/2006) Contact no, but it will mess up your credit