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Posted in Student Loans
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Sete1331

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Default vs New Loan ?
I am about to finish the rehabilation of my stu loan to get out of default. However a new lender will take over my loan and therefore i will have a new loan on my report. As of now I dont see any degrogratory maks regarding my stu loan on my credit report. Wont it be more of a nrgative to have a new loan on my report?

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It will offset the old loan

If the old loan is being reported with out any dertogitory remarks now,  it should report as closed on your report once the new loan is reported.  The new balance will simply offset the old balance as far as the amount of debt showing that you owe.

Good luck

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