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"Defaulted Student Loan Removed From Credit Report" Discussion

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Professional Q&As for "Defaulted Student Loan Removed From Credit Report"

Upsolve Community Member
2022-01-13

Student loan servicer Navient (formerly Sallie Mae), accused by several States of steering debtors into forbearance rather than suggesting Income-Driven Repayment (IDR) programs. A settlement was announced this morning (1/13/22) $1.8B Who is YOUR loan servicer?

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Community Replies:

Upsolve Community Member
https://www.nerdwallet.com/article/loans/student-loans/navient-student-loan-lawsuit Full disclosure: This summary comes from NerdWallet, a for-profit entity with no affiliation to Upsolve.

Upsolve Community Member
Navient ( Sally Mae) used to be mine, but I payed it off 

Upsolve Community Member
Olesya, congrats on being free from THAT debt! :-) 

Upsolve Community Member
I have Sallie Mae now about to default but not sure what to do is it better for it to default.  I just don't know if getting into more debt to pay them is worth it. 

Upsolve Community Member
2021-11-21

What can u do about a creditor taking money out of your tax money and the bill was included in your chapter7 that has been discharged for 2 years

Community Replies:

Upsolve Community Member
So, a creditor has taken your tax refund? Do you know who the creditor was? Is it possibly a student loan? 

Upsolve Community Member
This article could provide more helpful information, Samantha https://upsolve.org/learn/can-student-loans-garnish-taxes/

Upsolve Community Member
Often, if a tax refund is garnished, it's due to a student loan

Upsolve Community Member
2021-12-23

Are any/all your student loans, public (Federal) or private, in or near default?

2 Reactions

Community Replies:

Upsolve Community Member
When thinking about this question, keep in mind that for federal student loans a "default" doesn't happen until 270 days (~9 months) of missed payments. 

Upsolve Community Member
...and FYI with your Federal loans, if you ARE in default, this is a GREAT OPPORTUNITY to either consolidate or "rehabilitate" your loans bringing them back into good standing, getting the default off your credit record.  The best source of info is from the horse's mouth --- the Department of Education: studentaid.gov

Upsolve Community Member
2021-12-13

1 in 4 student loans was in default BEFORE the pandemic but this is one of the subjects we need to discuss. Have you tried to consolidate, rehab, or refinance through private loans?

3 Reactions

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Upsolve Community Member
I consolidated .ine and they go my income when I pay back

Upsolve Community Member
Hi Carrie! I didn't quite understand your post other than that you have consolidated your loans. What IDR program are you on? 

Upsolve Community Member
2021-12-17

what is a set off? I'm not sure I totally understand it.

2 Reactions

Community Replies:

Upsolve Community Member
Glad you asked! This article should be able to help explain set-offs in more detail: https://upsolve.org/learn/set-off/

Upsolve Community Member
Generally speaking, a set off is when a bank takes money out of your bank account because you defaulted on your payment obligations on a debt owed to that bank. 


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