Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Student Loan Help » What short term effect would the refinancing of a defaulted student loan have on my credit rating?

What short term effect would the refinancing of a defaulted student loan have on my credit rating?

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 factors considered.

RELATED POSTS:

  1. How does declaring Bankruptcy effect my current credit rating? I know that once you declare bankruptcy you can’t file again for another 7 years, but how does filing affect...

  2. How to get a personal loan, NOT a payday loan.Bad credit rating due to foreclosure? Had good credit till foreclosure.Now, banks, credit unions won’t help.Have income.Loan needed ASAP! ...

  3. Is student loan still tax deductable when refinancing a student loan with a personal loan? My daughter has two very high interest student loans. Her credit won’t let her do anything, but I can “refinance”...

  4. How Debt Relief Affect Credit Rating Debt reliefis quite a subjective term and it is very dicey to come out with specific numbers or precise figures...

  5. Debt Relief Options ? How A Debt Relief Program Will Affect Your Credit Rating Debt relief will affect an individual’s credit rating. It is important to note that the more debt an individual has,...

Written by

Filed under: Student Loan Help · Tags: , , , , , , , , ,

One Response to "What short term effect would the refinancing of a defaulted student loan have on my credit rating?"

  1. Jimmy John says:
    It depends. Your score may go down for a few months, because you’ll have a new loan on the report and passed due debts will still show up on your report. After a few months, it’s going improve.

    Or it can go up, depending other factors.

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player