Is it true that once you default on a student loan your credit is ruined forever?

Credit and mortgage advice Forums Consumer Credit Improve Credit Is it true that once you default on a student loan your credit is ruined forever?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 7 months ago.



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    Anonymous

    I have been told many times, by many sources that my credit will never improve because of my defaulted loan. Recently, I’ve heard otherwise. Do you know of a website or any other source that explains this?

    I’ve been paying off the student loans for quite some time now with no change in my credit report.

    I used to dream of owning my own business, but threw the idea out the window after the loan ordeal. Now, I’m wondering if I still might have a chance.

    I don’t know if it matters, but I calculate that it won’t be paid off for 15 years or so due to the fee’s. (I have more fee’s than loan at this point)

    Any info would be appreciated.



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