- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Need some OT financial advice
Posted on 4/10/17 at 2:21 pm
Posted on 4/10/17 at 2:21 pm
Hello OT, I have heard that after 7 years, any debt goes away from your credit report. Is that true?
I have about 40k in student loans and wondering if I can just not pay and let it default. I am not looking to buy any house or car for the next 7 years and I can use the extra income.
I have about 40k in student loans and wondering if I can just not pay and let it default. I am not looking to buy any house or car for the next 7 years and I can use the extra income.
39
Posted on 4/10/17 at 2:22 pm to fareplay
prepare thy anus
nevermind its already ripped open
quote:
aggie fan
nevermind its already ripped open
Posted on 4/10/17 at 2:22 pm to fareplay
IN
Posted on 4/10/17 at 2:22 pm to fareplay
quote:
I have about 40k in student loans and wondering if I can just not pay and let it default
This post was edited on 4/10/17 at 2:23 pm
Posted on 4/10/17 at 2:22 pm to fareplay
quote:
Texas A&M Fan
Pay your damn debts...and Money board.
Posted on 4/10/17 at 2:23 pm to fareplay
Negative marks may go away, but the debt isn't going to magically disappear!
Posted on 4/10/17 at 2:23 pm to fareplay
Posted on 4/10/17 at 2:23 pm to fareplay
quote:
I have about 40k in student loans and wondering if I can just not pay and let it default
Posted on 4/10/17 at 2:23 pm to fareplay
Start working online from home. I've been doing it for three years now and I make around $40k a month. Already have over 800k saved up for a house. Might move to Charleston or Boulder idk.
Posted on 4/10/17 at 2:23 pm to StealthCalais11
This is going to go well...
Posted on 4/10/17 at 2:23 pm to fareplay
Obama will forgive the debt
Posted on 4/10/17 at 2:24 pm to fareplay
What kind of degenerate are you???
Pay that shite, you waste of space
Pay that shite, you waste of space
Posted on 4/10/17 at 2:24 pm to fareplay
That's a shitty plan.
Open up a ton of credit lines and ball the frick out and then default on everything. Trust me, I'm a financial advisor
Open up a ton of credit lines and ball the frick out and then default on everything. Trust me, I'm a financial advisor
This post was edited on 4/10/17 at 2:31 pm
Posted on 4/10/17 at 2:24 pm to fareplay
I dont think you can default on student loans.
Posted on 4/10/17 at 2:24 pm to SabiDojo
quote:
Start working online from home.
what do you do? surveys?
Posted on 4/10/17 at 2:24 pm to fareplay
you just want to default and not pay? hope you dont want to buy anything with credit for the next 5-10yrs. gotta be in straight cash homie.
Posted on 4/10/17 at 2:25 pm to fareplay
quote:
I have about 40k in student loans and wondering if I can just not pay and let it default. I am not looking to buy any house or car for the next 7 years and I can use the extra income.
I believe:
Student loans are considered "secured debt"
Meaning if you fail to pay, they will go to your employer and have them deducted directly out of your paycheck
Bankruptcy won't even save you
I dated a girl who's brother made $100k+ at a plant but had his wages garnished to pay his student loans from LSU.
Posted on 4/10/17 at 2:25 pm to fareplay
On the off chance you aren't just stirring shite, federal student loan debt is with you til you die. Even bankruptcy can't discharge it. I'm sure they will garnish your check or something if you simply stop paying.
Posted on 4/10/17 at 2:26 pm to fareplay
quote:Yes and No. Some debt will still report, but you can request it be removed. Missed payments and collections should fall off automatically after 7 years, but you may have to get them removed as well.
I have heard that after 7 years, any debt goes away from your credit report. Is that true?
quote:That would probably remain on your credit for 10 years and still won't come off. This isn't private debt we're talking about, it is public debt. Government doesn't play about their money.
I have about 40k in student loans and wondering if I can just not pay and let it default. I am not looking to buy any house or car for the next 7 years and I can use the extra income.
Posted on 4/10/17 at 2:26 pm to fareplay
7.5 years from date of first deliquency and credit card debt in collections disappears off your credit report. but you still owe it. it just no longer reflects in your credit history or credit score.
idk about student loan debt.
7.5 years is A LONG TIME to have completely fricked up credit. this will affect your car insurance rates, job getting ability, spending power, car buying power, etc etc
idk about student loan debt.
7.5 years is A LONG TIME to have completely fricked up credit. this will affect your car insurance rates, job getting ability, spending power, car buying power, etc etc
This post was edited on 4/10/17 at 2:27 pm
Page 1 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News