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Posted in Student Loans
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lbradl8

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Private Student Loan Default
I took out several private student loans when I was 18-20 years old. I ended up falling behind on them and they all ended up in default. We are talking like 50K here. I want to build my credit but I know with the defaulted private student loans on my credit, this will probably be impossible. I've done lots of research on it, and I can only find what to do about federal loans in default. I need to know what to do about private loans in default. I can afford monthly payments, but I cannot afford to pay it in full, obviously. Is there anything I can do to build my credit with the defaulted private student loans on it? Are there any options for PRIVATE student loans such as rehabilitation to get the "default" off my credit??

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You would need to contact your lender for repayment options. Every lender is different on how their rehabilitation works. Getting the default off your credit report will help.

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