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User Topic: Question about Forbearance.anyone?!!
idkam
Member
Member # 18375
Default  Posted: 1:14 PM, August 4th (Monday)

How bad will it look on my credit?? I've asked for 6 months and hopefully by then i will have a job....as it stands my payments are $206..right now but since i have to pay insrance and $583 car note its impossible...

What say you?


People come into your life for a Reason, Season or a Lifetime..
Divorced

Posts: 1786 | Registered: Feb 2008 | From: Texas
purplejacket4
Member
Member # 34262
Default  Posted: 6:17 PM, August 4th (Monday)

In the 1990s I was in forbearance and it didn't affect my credit at all.


Me: BS 45
Her: fWS 48 (same sex partner)
Together: 18 years now (both MDs)
OW: meh so what 40s PhD
DD1: 10/30/11EA; DD2: 11/10/11 Had ONS; TT until 12/26/11; broke NC 6/12; NC again 7/12; R-ish

Posts: 2175 | Registered: Dec 2011 | From: Great Southwest
GabyBaby
Member
Member # 26928
Default  Posted: 6:32 PM, August 4th (Monday)

I'm in forbearance now and it isn't damaging my credit.


Me - 40s
SorryInSac - WH#2 - 40s. DDay 7/12/14
Married 4, together 7yrs total
Status - ??

DD(21), DS(18, PDD-NOS)
6 Furkids - 4 dogs, 2 cats

WXH (serial cheater, 12+ OW)
Legally married 18yrs, together 16.5yrs

I edit often for clarity.


Posts: 6440 | Registered: Dec 2009 | From: California
hurtbs
Member
Member # 10866
Default  Posted: 6:46 PM, August 4th (Monday)

My understanding is that forbearance and deferment are there specifically to preserve your credit. Your credit takes a hit when you go into default.


Me BW Him XSAWH
DDays 2006, and then numerous more
Divorced 2012

"In life, unlike chess, the game continues after checkmate." - Asimov
"Be patient and tough; someday this pain will be useful to you." - Ovid


Posts: 15321 | Registered: Jun 2006
idkam
Member
Member # 18375
Default  Posted: 7:13 PM, August 4th (Monday)

Thanks my SI friends this bit of i fo made me feel a little better....


People come into your life for a Reason, Season or a Lifetime..
Divorced

Posts: 1786 | Registered: Feb 2008 | From: Texas
MissesJai
Member
Member # 24849
Default  Posted: 8:09 PM, August 5th (Tuesday)

I'm in forbearance and it didn't impact my credit.


FWW - 41
I'm big on personal responsibility. Own your shit. ALL OF IT.

Posts: 5884 | Registered: Jul 2009 | From: So Cal.....
NotDefeatedYet
Member
Member # 33642
Default  Posted: 10:46 PM, August 5th (Tuesday)

You'd be better off filing for income based repayment. When on a deferment, your loan is accumulating interest. With income based repayment, the payment are adjusted based upon your income. You could possibly have a payment of $0.


"It's a fool that looks for logic in the chambers of the human heart."

Posts: 769 | Registered: Oct 2011 | From: Texas
IrishGirlVA
Member
Member # 39694
Default  Posted: 2:55 PM, August 6th (Wednesday)

My understanding is that forbearance and deferment are there specifically to preserve your credit. Your credit takes a hit when you go into default.

^True statement.

I work in student loans and pretty knowledgeable with FCRA -- Fair Credit Reporting.


Me: 40 yrs old BGF
Him: 37 yrs old WBF
Us: Together for 4 years and living together for 1
DDay: June 2013
PA with the mother of his child. Both of whom live in another country.
Status Jan 2014: Done. She's preggo again.

Posts: 218 | Registered: Jun 2013 | From: Virginia
Topic Posts: 8