Deferment/ consolidation

Posted by Haitian_King@reddit | studentloandefaulters | View on Reddit | 1 comments

My credit score dropped over 200 points from April until now because of four student loans that have reported as delinquent on my credit report. I am active duty, military and my loans together or less than $10,000. I had no idea that they hit my credit report because I was deployed at the time now going through a divorce and looking to move I got denied for the apartment because my credit score dropped from a 650 to a 440. Does anybody have any advice on what I should do? When I called Ed financial they said I could do a military deferment however I want to improve my credit score. Not necessarily concerned about the payments.

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jatin_yadav_241@reddit

First, thank you for your service. Since you’re active duty, you should absolutely request that military deferment ASAP, and also look into Servicemembers Civil Relief Act (SCRA) benefits—they can cap interest rates and provide protections against negative credit actions. After deferment kicks in, dispute the delinquencies with all three credit bureaus and provide deployment documentation. That can often get the late marks removed. This should help your score recover much faster than just waiting it out.