Published on 2010-10-24 10:43:15 By elvisjx1
mrman617 asked: I recently consolidated a defaulted student loan and need to purchase a new vehicle. Approximately how much of an impact on my credit score will the consolidation have the day after it hits my credit report? I’m just curious if anyone could ballpark the number of points it could jump, with no other [...]
Published on 2010-10-19 06:49:22 By elvisjx1
Michael W asked: For starter, what is defaulted student loan? This is a condition where you fail to repay the loan or apply for deferment or forbearance for at least 270 days for federal student loan and 120 days for private student loan.When your student loan is defaulted, your loan will become due immediately and [...]
Published on 2010-10-19 03:33:44 By elvisjx1
Morgan Hamilton asked: The need to pay for a college degree comes with the honor of earning it. Fortunate students have parents that are willing to pay for their studies. However, some students have to work hard and earn scholarships in order to finish their degree.You will probably have huge student loans to work off [...]
Published on 2010-10-19 11:17:22 By elvisjx1
Mr k asked: What is Administrative Wage Garnishment (AWG)?Administrative wage garnishment (A.W.G) is the process by which a Federal agency (Dept. of Education) or a third-party given authority by a Federal agency (the collection agencies) may, without first obtaining a court order, order an employer to withhold amounts from the debtor’s wages to satisfy a [...]
