Contrary to belief of some people,
repaying delinquent debts will not increase your credit score.
The first step when intending to
repay your delinquent debt is to determine who owns the debt.
Not exact matches
If you fail to
repay your loan in accordance with its terms, we may place your loan with, or sell your loan to, a third - party collection agency or other company that acquires and / or collects
delinquent consumer
debt.
If you fail to
repay your loan in accordance with its terms, we may place your loan with, or sell your loan to, a third - party collection agency or other company that acquires and / or collects
delinquent consumer
debt.
Secured
debts including mortgages and vehicle loans must be
repaid, although the court may approve a repayment schedule for
delinquent payments.
When it comes to student loans, if you're
delinquent or in default, getting the
debt repaid immediately is ideal.
The commenter recommended extending the look - back period to reflect these statutes of limitations and to ensure that PLUS borrowers with
debt that is
delinquent, charged off, or in collection, are able to either rehabilitate that
debt or avoid costly lawsuits that may hinder their ability to
repay a PLUS loan.