I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?
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In 2004 and 2005 I was deliquent in paying back my student loan. Since 2005, I've paid on time. It's the only blemish on my credit report. Does the government have a "forgiveness" or second chance program to remove this from my credit report?
I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?Credit problems are some what self eliminating. Depending on the type of issue there is a time limit. Bouncing a check and having it go to a collection agency takes 2 years to disappear. Filing for bankruptcy takes 7 years to clear. I am not sure about the timer on a late payment but if you keep making your payments on time it will eventually work out.
I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?Time will improve it.
The further into the past the one blemish falls, if good habits current, the blemish carries less and less weight over time.
I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?No, but creditors will know what it means if there are no more late payment notations after that period of time. Also, you can send an explanation to the 3 major credit bureaus and they have to include it when your report is sent out.
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