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How to Remove a Defaulted Student Loan From a Credit Report

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From Quick Guide: Student Loan Repayment 101

Summary: Removing a defaulted student loan from a credit report is difficult, but sometimes it can be negotiated with a loan provider by showing consistent accountability. Learn how to get a defaulted student loan removed from a credit report with tips from a financial consultant in this free video on credit cards and personal finance.

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By Carrie Kukuda
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Carrie Kukuda has a business administration degree, and was branch manager of a community bank. Kukuda owns a consulting business for one-on-one credit education & budget/debt...read more

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Video Transcript

"You need to remove the defaulted student loan. Hi I'm Carrie Kukuda, the Someday Coach. And maybe a difficult task but what I'm going to give you is some tips on how to remove it off your credit report. First I would suggest to get a hold of your loan provider and see if you could work out and get the details of the loan. And then what you want to do is tell them that you are willing to pay it in full but you need it over a time period. And that you are willing to pay it on time for them. With that in turn, you can ask them if they will remove it from your credit report as long as you stay current. If they aren't maybe, if they won't do that for you, maybe you can ask them to put you in good standings, there's two different sides to that. in your credit report. And don't give up. If they you know, it will be on there for seven years if they won't remove it but you can always revisit that later and say a year down the line, you've paid them on time and you are current and you are following through on what your obligations are they may reconsider so don't think that if you can't get it off now, it's going to be on there for seven years. Revisit it, ask them again if they'll remove it from your credit. Good luck and again my name is Carrie."

eHow Article: How to Remove a Defaulted Student Loan From a Credit Report

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