Speaking of the defaulted student loans, the negative information stays in the credit report for 7 years and longer. The easiest way is to wait seven years until it will disappear. You can also do it faster. The first thing you should do is call and ask your creditor to do so. They aren’t obliged to do it but if you explain the reason and be nice, they can contribute to the removing defaulted student loans from a credit report. If it doesn’t work, find a supervisor and repeat your story.
If you have time to change the situation, you can turn to loan consolidation or rehabilitation. The rehabilitation will be removed from the credit report but history will still contain late payments during loan repayment process. Speaking of consolidation, you should make three on-time monthly payments on a defaulted loan before consolidation to improve the situation.
Removing Closed Student Loans from Credit Report
The first step should be a goodwill letter to the creditor where you explain the situation. If you are lucky enough, it will work.
There are cases when the account is open but is marked as closed. In such cases, you should turn to the credit report dispute process. In fact, you can dispute any inaccuracies on the credit report. If the account has balance, pay for delete can help. You can write pay for delete letter and ask to close the account in exchange for payment. With the right strategy, you always can reach success removing student loans from the credit report.