I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
The government does not as although it's government regulated, it is not a government run business (reporting credit). Having said that, often times you can discuss with the owner of the loan about getting it removed. How many total months of late were you? If it was a few times here and there, there is a good chance they would remove it to help you. If it's 2 years, then you're pretty much just stuck.
If they were Perkins loans, those negative marks can stay on your credit until the loans are paid off (yes, past 7 years). If it's not a Perkins loan, they can stay for up to 10 years. Student loans have a longer period than the 7 years provided by a different statute than the FCRA.
I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?Time will improve it, but so will paying extra every payment. Don't just pay what you owe - pay twice as much or more, and it will get you in the clear faster for your credit rating.
I have one blemish on my credit report-student loan. Does the gov't have a forgiveness program?The government doesn't run the credit bureaus. They're independant.
No, there's no forgiveness program. Just keep working at paying things on time and each year the effect on your score will lessen.
You can try and dispute it and hope you get lucky-- it does work sometimes-- but for the most part, just be patient. You've already been on time for 2 years which already makes it hurt less.
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