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Defaulted student loan I am trying to rehabilitate.

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  • Defaulted student loan I am trying to rehabilitate.

    Australia
    State: All States/Provinces

    Hi...I have a defaulted student loan I am trying to rehabilitate. The company that now \"owns\" the debt is not very good to deal with (their name is NCO). What now?

  • #2
    Re: Defaulted student loan I am trying to rehabilitate.

    I wish to inform you that you can go in for loan modification. You can consolidate your debts and can convert into one debt with a longer period and if possible with a lower rate of interest payment. Further, if you still feel unable to pay your loan you can opt for deferment of debt. In this, in case you are having a Federal debt then in certain type of Federal loans, loan deferment can be an option. In this, if you are unemployed then deferment can be done. In case of unemployment, you can have a maximum period of 36 months as deferment with 6 months at a time. In case you are having Economic Hardship then you can have deferment up to 3 years with up to 1 year at a time. In case you have been studying in University for at least half time, there is no time limit as long as you are studying towards the degree.

    AFF

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    • #3
      Re: Defaulted student loan I am trying to rehabilitate.

      thx

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