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Federal student loans during forbearance - should I keep paying them?

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    Federal student loans during forbearance - should I keep paying them?

    Wondering if it's worth it to continue paying my student loans during the forbearance, and how much. Mainly concerned about my credit rebuilding. Got my discharge about 22 months ago. Have my student loans and a $200 limit CC I pay off every month, and that's it. I normally pay about $150 per month towards my student loans. I assume if I stop making loan payments that it would hurt my credit rebuilding, right? Will making payments even when nothing is due still help my credit? And if I paid less than the normal amount (I understand it'd just go towards principal) instead of my normal full payment, would it make a difference as far as what they report to the credit bureaus?

    I'm really only concerned about my credit rebuilding and not the money, I'm fortunately in a situation where I can make these payments easily every month thanks to a very secure job.

    #2
    My gut tells me you should continue paying them.
    Chapter 13 (not 100%):
    • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank cum Bank of Southern California
    • Filed: 26-Feb-2015
    • MoC: 01-Mar-2015
    • 1st Payment (posted): 23-Mar-2015
    • 60th Payment (posted): 07-Feb-2020
    • Discharged: 04-Mar-2020
    • Closed: 23-Jun-2020

    Comment


      #3
      If you don't pay them, or at least the interest, the interest continues to accrue.
      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

      Comment

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