Credit score decline help

Posted by Mountain-Market6617@reddit | studentloandefaulters | View on Reddit | 3 comments

I went to college and graduated in 2011. I have federal student loans. About $20,000. I never made any payment. I know it wrecked my credit probably until 2018/1019. Since then I have regained my credit and gotten approved for over $30,000 in credit cards. I’ve always made my payments on time, etc. my credit score was about a 720. And then about a month and a half ago with whatever happened with Trump or whatever my credit score dropped to under 600. I’m very confused because I thought those loans only affect for up to seven years? So why am I being re-affected? It’s like double Jeopardy. Should those loans be untouchable to my credit score because it’s been so long? Please help. Do I need to call Experian and explain this. At some point I will pay these loans, but I already thought the damage was done so what’s the point in worrying about it.

[-]

RiverParty442@reddit

Maybe could have paid the minimum instead if buying Rolexs

AffectionateFloor481@reddit

You had a nearly 5 year long reprieve because of Covid when they didn't report to credit bureaus. That ended last fall. Your loans are still in default and now that's been reported again. You will need to get out of default by either consolidating or rehabilitating the loan. If you want it off your credit report your need to go the longer rehabilitation route.

davebone6195@reddit

Federal Loans never fall off. Have you ever heard the saying there is no escaping death and taxes? Federal student loans should be added to that. You need to look into the Fresh Start Initiative or your wages/bank accounts/tax refunds will be garnished. Good luck and get your head out of the sand.