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Student Loan Help
Posted on 3/31/13 at 6:26 pm
Posted on 3/31/13 at 6:26 pm
I have three outstanding student loans that I began paying this month. All three are in my name; however, my parents are paying one of them. The two that I am paying both went through auto-pay with no problem. The one my parents are paying, and my dad has documentation that he set up auto-pay, did not go through. It was due on the 28th, and my dad just paid it using a one time EFT. Assuming I get stuck with some bureaucrat who refuses to fix this situation, even with paper evidence of auto-pay set up, how bad is this going to hurt my credit?
3
Posted on 3/31/13 at 6:30 pm to Jcorye1
quote:
I have three outstanding student loans that I began paying this month. All three are in my name; however, my parents are paying one of them. The two that I am paying both went through auto-pay with no problem. The one my parents are paying, and my dad has documentation that he set up auto-pay, did not go through. It was due on the 28th, and my dad just paid it using a one time EFT. Assuming I get stuck with some bureaucrat who refuses to fix this situation, even with paper evidence of auto-pay set up, how bad is this going to hurt my credit?
Late 3 days? Not at all.
Posted on 3/31/13 at 6:49 pm to Jcorye1
I know my friend had a student loan account that was late for 2 1/2 months and it had not been reported yet. The lady told him that they wait 3 months then report it as late.
Posted on 3/31/13 at 7:08 pm to Jcorye1
Most lenders don't report anything until you are 30 days late. Or more.
Get it straightened out this week. If you do you should be fine and the only penalty will be a late fee.
Good on you for checking to make sure it went through, lots of people just assume it got done and pay a steep penalty.
Get it straightened out this week. If you do you should be fine and the only penalty will be a late fee.
Good on you for checking to make sure it went through, lots of people just assume it got done and pay a steep penalty.
Posted on 3/31/13 at 9:35 pm to foshizzle
I worked at a national student loan servicing company throughout college. Even though we report on the 3rd Monday of each month, a delinquency isn't reported negative unless it is more than 90+ days delequent at the time of reporting. I'm nearly 100% sure you'll be fine.
Who is your loan with, if you don't mind me asking?
Who is your loan with, if you don't mind me asking?
This post was edited on 3/31/13 at 9:37 pm
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