rehab or consolidate student loan?
January 6th, 2009
Posted in Consolidate Student Loan | 
Tags: Consolidate Loan, Default Status, Rehab Loan, Student Loan
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January 6th, 2009
Posted in Consolidate Student Loan |
Tags: Consolidate Loan, Default Status, Rehab Loan, Student Loan
wow, *** do all those words mean anyway!!
I think this is something you would have to talk to your loan holder about…and/or the company you might go through to consolidate the loans.
I don’t know that any company would help him consolidate since he is in default, but I am not sure…maybe.
Interesting predicament and Pinnacle gave an interesting answer. But I think he will have to do some rehab on his loan in order to consolidate it. It’s not easy, but over time the 2 of you can work it out.
Rehabbing it. Rehab is the only way to get it out of default, even if you consolidate it.I believe that consolidating only means all your loans go into one payment, but you’re still in default.After 9 monthly payments your loan will come out of default status.If you’re worried about this tax refund, maybe if u go into rehab right away they’ll remove the offset by april 15th.Good luck.You really should try and get it rehabbed before they start garnishing his paycheck, because then you have to make 9 voluntary payments in addition to the wage garnishment.