What is the quickest way to get a student loan out of default?

Answer by  malone (4817)

A student loan can be rehabilitated by making 9-12 on-time consecutive payments to the servicer, which will require you to set up auto-payments. The loan is then brought out of default and all negative credit reporting is retracted. Penalities may be reduced, too. It's a good deal.

Answer by  Hewitt302 (1720)

Avoid default altogether. The easiest way is to pay down the debt owed. The Federal Govt offer a variety of payment options to help you ease the burden. Deferement and Forebearance can help for short term, for which you wouldn't have to pay back the loan right away.

Answer by  tamarawilhite (17883)

Pay the full amount owed plus penalties. That closes the debt. If you do not have that amount, then pay all past due amounts and penalties in full.

Answer by  gcmeyer2 (787)

The fastest way to get a student loan out of default is to pay it. Obviously, you should pay the loan to avoid default in the first place. Most companies have a recovery department. You should get in touch with them to see what to do specifically.

Answer by  blairsandman (5)

the easiest place for a student loan will be wonga as they are very quick application process i did it and it only took 30 minutes and i had the money in my account and my credit history is very poor you should give it a try....

Answer by  Ryan1987 (20)

I imagine that it would depend on the loan company and its policies.I would think that companies like sallie mae would be willing to work with you. Or defer it.

Answer by  Ann89 (613)

Best way is to repay the money immediately so it wont stay on record for longer than necessary. Student loans can interfere with the chances of obtaining credit in the future.