My wife has 17k in student loans her credit is bad now. She hasn’t paid in over 2 years now. Shes so busy at work it’s hard for her to have time to mess with it right now. So I’m trying to help her out where do I start?
Question about student loans
byu/kdfromdawest inStudentLoans
Posted by kdfromdawest
2 Comments
What kind of loans does she have? Has she defaulted?
Are these federally subsidized loans or private loans?
Private loans are going to give you fewer options than federal loans.
You should really pull all 3 of her credit reports to see what the actual damage is. Aside from student loans she may have other things hurting her credit.
AnnualCreditReport.com is the ONLY OFFICIAL SITE for all 3 major credit bureaus, and you can pull reports for free weekly now, despite the name.
Look at them all, they might be different. I would not rely on summaries you find on Credit Karma or other sites/apps. You cannot find more detailed info than on AnnualCreditReport.com. Look for and download the .pdf version of each report for the most complete view.
Every payment reported as late dings your credit.
You need to also know exactly how much she owes, and what your plan is for paying it back. The loan provider/servicer is the place to start here. If it’s a private loan you can ask them what sort of hardship options they have for modifying the repayment plan.
>Shes so busy at work
They can eventually start garnishing her wages if it becomes so delinquent that they get a judgment against her. Don’t wait for that to happen.