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Posted in Student Loans
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Question By
TreWill25

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Paying Defaulted Loans Over 7 yrs old
Hello, my defaulted student loans are about 11 yrs old from the day they were opened. There are 4 accounts in total all showing that they are closed with 2 of them reporting major delinquencies. I was wondering what would be the best way to tackle it to the benefit of my credit. If I pay them off in full will all my deliquent reports be removed seeing they are over 7 years old? Would it be better to go the rehabilitation route?

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The thing is, if these are Federal loans they are never going to go away if you don't pay them, that said, pay them regardless of how long it will take to have them removed after payment, the longer you put off paying them, the longer they will remain. The rehabilitation route? I can't advise you there, I suggest some Google searching to see what you can find out.

Reply by
TreWill25

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Thank you for your reply. They are federal loans. Not to much tho so I should be able to pay them off by the end of the year. I was just reading that alot of have a very hard time having them removed from their report afterwards.

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