Tag Archives: account
Defaulted Student Loan
A defaulted student loan will put you in a complicated situation. You will likely have to repay the loan and your credit will be ruined.
When your student loan goes into default, your account is turned over to collection agencies and various collection procedures begin. In addition, the government can garnish your social security benefits, your wages, and more.
According to a law that Congress created called the Fair Credit Reporting Act, you only have a negative mark on your credit report for a maximum of seven years. Although, these debts can be collected upon for life!
If you have a defaulted student loan on your report you are likely to have to pay interest rates of roughly 25% and place large down payments, just to be approved. More often than not you will be turned away for a new line of credit.
You should dispute the collection marks on your report. There is hope you can remove this mark from your report and, with some luck, you may be able to remove the debt entirely.
A dispute letter should be sent to each bureau containing a reason as to why the mark is not correct. Examples may be the account is paid in full, the mark has already been reported for seven years, not my account, and so forth.
This is the most difficult item to negotiate on a credit report and thus we suggest that you should hire a credit repair service to dispute it on your behalf. The benefit is you will have a licensed attorney fighting for you and there are continuously new laws passed by congress to help protect consumers.
We feel hiring an expert is worth the money since your credit score impacts every aspect of your life. This is a good idea since, compared to the high cost of a low credit score, hiring an expert can be done at very reasonable rates.
Please be aware that a private loan, such as one with Sallie Mae, will be difficult to remove but easier than a federal loan. A loan from the government, such as a Stafford loan or the Perkins loan, will be much harder to remove from your report.
When the bureaus receive your dispute letter they will contact the creator of the negative mark and ask them to verify the debt. They will verify that the account is yours, the dates are correct, and the balance of the account.
If the account can not be verified then the negative mark must be removed from your credit report. This is due to the Fair Credit Reporting Act saying that any unverifiable mark on your credit report must be removed.
It is estimated that 1 in every 4 people have an error on the report that is costing them money in higher interest rates. The bureaus and lenders make errors all the time, but your credit is the one that will suffer. If this mark is in error, be sure to send any documentation that you have with your dispute letter to prove it is in error.
In closing, if you have a defaulted student loan on your credit report, it does not mean you will have a low credit score for the rest of your life. Defaulted student loans are removed from credit reports every day. To do this, we suggest you dispute this mark with the credit bureaus.
I Need Loan Today: convenient access to immediate funds
There are certain expenses, which require you to take adequate measures. The short term expenses in particular are quite tough to deal with , as you may not have the funds. In fact, the problems do tend to increase, when you are asked to resolve the crisis the same day. Since you are not having the funds, what is the best option that you have? Well, there is nothing much to be worried abound. In fact, for the same reason, you can attain the provision of I need loan today.
This option of the loan is made available for short term duration. Applicants having good credit as well as bad credit can attain the service of this loan. This is of course possible due to the penchant of the lenders, who readily sanction the amount, without checking the credit profile. Besides, the funds being not much of a risk compel the lenders to approve the funds, without asking for any collateral. The approval for this loan comes within the same day, where it gets deposited directly in to your bank account.
However, to be considered eligible for this loan, there are certain requirements, which you do need to fulfill. In this regard, you need to be employed on a permanent basis, where in your monthly income should be fixed and regular. A Valid checking account is also required and that your age should be more than 18 years.
With this option of the loan, you are capable of deriving funds anywhere in the range of £100-£1500. The borrowed amount then has to be repaid over a period of 2- 4 weeks. As for the interest rate levied, it tends to be a bit higher than the normal rates. However, by making a detailed and comprehensive research of the loan market, you can come across offering the funds against viable terms.
To derive this loan, without much of a hassle, you can apply using the online facility. There is no paperwork or documentation. Moreover, by using the online mode, you get a chance to procure the funds, without personally visiting the lender.
Cash loans is just the funds that you need in times of extreme urgencies.