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Posted in Student Loans
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rubina784s

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How can i get a private student loan off my credit when I cant afford payments?
Does anyone have any advice on how to not let a private student loan not affect your credit so much? I was able to work out something for my federal loans however the private loans are whats killing my credit. I just had a child so am not currently working, however would like to somehow resolve this so I can become a home/car owner!

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Sorry, but a debt is reported on your credit reports and for the specified time.  You will have to see what arrangements can be made so you can get the loans paid in full.  You have to have a good credit score to be able to get a loan for a car and/or a house.  Federal student loans remain collectable until paid in full or the government garnishes your Social Security.  I don't knokwd how private student loans are because I never dealth with those.

You would be better off to save money to buy a car (and remember to plan on paying insurance, too)  than to try financing one right now.   Keep renting, because, until the student loans are paid, your chances of buying a house in the near future are not good.  Use the information and tools on this site to help you learn and build your credit score.  That is what CK is for.

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