Felix_Leiter Posted May 31 Report Share Posted May 31 what happens? Quote Link to comment Share on other sites More sharing options...
JonStephen Posted May 31 Report Share Posted May 31 If your talking defaulting as in forbearance or deferment then your loan payments get put off and the principal balance just collects interest.If your talking defaulting as just completely not paying, your credit turns to shit. That shit sticks with you like flies on shit and it wont go away for seven years unless you pay. Basically, forget getting approved for credit cards, car loans, or home loans for quite some time. It'll also be a bitch when you try to move and your new landlord checks your credit.....In case you cant tell, I speak from experience Quote Link to comment Share on other sites More sharing options...
christyne13 Posted June 2 Report Share Posted June 2 The mark will follow you...and come up again and again.If you have been in default for awhile...you should call them and see if they will except a payoff amount instead of the actual balance. Quote Link to comment Share on other sites More sharing options...
fkornre Posted June 2 Report Share Posted June 2 not paying ur student loans is one of the worst things you can do to ruin ur credit rating...i may not make a credit card payment but i have never missed a student loan payment...i know when i go to buy a car they only looked at my previous car loans and my student loan...they didnt care that i was late on credit card payments but they asked me how i was doing on paying that student loan... Quote Link to comment Share on other sites More sharing options...
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