student loan default

How do I take care of a student loan in default?

I was trying to get the student loan repayment from the Army to pay it but, it never got handled. So it defaulted. Now I cant make less than 20% its been over 3 years since it went default. It is with Citibank. If I could rehab it and get it in good standings the military might pay it with my Student Loan Repayment Program.

Contact the lender and negotiate what you can afford to pay them. I’ve never defaulted on my student loans but I do call them in advance to let them know if my payment is going to be late or let them know how much I will be paying if I can’t afford to pay the full amount. You probably should start by making good faith payments. Pay consistently each month a fixed amount and then negotiate.

Learn Why Student Loan Default Is Not a Viable Option

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