Feel like I've Failed at life

One of my student loans has gone into default. Scared to even look at my credit report. I don't think I can even rent an apartment because they want you to fill out an application and they do credit checks. Defaulted student loan = too much of a risk for most realty agents, if not all. This huge stress obviously can't be good for my Hodgkin's recovery. Anyone with more wisdom and exp.?

 

i've been massively in debt for years [maybe 60k?]

there's things i can't do, most stuff is no problem though

in smaller towns most landlords don't check credit, and the bad credit does eventually disappear

except of course for the student loans if those are fed loans, that stays forever - but they pretty much leave you alone

 

co-signer.

 

these made me chuckle.

 

Perhaps it does not appear that you have upheld your commitments but I would point out that everyone at some point leaves everything hanging. This is not the end. You have many options going forward but none are required.

 

its true most renters dont check credit unless they're more higher end. as for the student loan, i havent paid mine in about 5 years and they decided to take it out of my income tax this year. sooo moral of the story is you should pay that shit. or yes, co-signer.

 

if you fall off the horse, get back on the horse. it's that simple.

if you have debt, save up and get the fuck out of it. remove the world 'try' from your vocabulary, and replace it with the world 'will'. or sausage.

person 1 - will you go the the store
person 2 - i'll ... sausage ... to go to the store after work.
person 1 - take me now.

wouldn't that be fun??? :eggnog:

 

Well you can always move back home with mom & pop until you improve your credit score


Hotwater

 

That used to be a lot more true than it is now...Professional property management is becoming very popular these days.

 

The only experience I have in this is that I have a big debt on my student loan as well I'm pretty much an expert! Ah well, it should be gone by 2060 :biggrin:

 

firstly, you're not a failure. You just got screwed by the system like millions of other people.

A lot of people have been brainwashed into thinking that degrees are worthwhile, no matter what the cost.

I suppose that you could look up info about credit counseling.

The stress you are putting yourself through is probably a lot worse than the consequences of default.

 

Is claiming bankruptcy an option? If not, I second this VVV

 

You're going through a tough time. Things will get better.

 

My credit score dropped again from 590 to 570. Is that bad? I don't know much about this. I know lots people have 700+ but have also heard in the low 400s too. On top of the score, again is that defaulted student loan. Will this make it extremely hard, like I think it is, to rent an apartment in a big city? I can't believe this...

 

Your credit score is not indicative of whether or not you are a failure in life.

You're alive. Life is real and tangible. Credit scores are not. Enjoy your life and don't let some imaginary credit system keep you from it.

With that said, start saving and start paying. Thats all you really can do at this point. If you make your payments on time your credit score will slowly improve.

It may be difficult to find a landlord that doesn't do a credit check, but its certainly not impossible. In a big city you can always do a sublet.

 

I'm guessing that if you have a solid recommendation from your previous land lord who says that you paid your rent on time and were a good tenant, the credit score may not matter. You could explain that you have student loans. I think you may be stressing yourself too much about this.

 

I dont even know what my credit score is dont really care...

 

If you realise all of this you're pretty much on the right way. :2thumbsup:

 

This is from the Clark Howard commercial lol.