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/biz/ - Business & Finance

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24279955 No.24279955 [Reply] [Original]

I defaulted on $12k in student debt
My credit score is now 455
What do?

>> No.24279974

>>24279955
How do you default on a 12k debt? Poorfag

>> No.24280021
File: 18 KB, 746x848, Screenshot_2020-11-25 Credit Karma.png [View same] [iqdb] [saucenao] [google]
24280021

>>24279955
also what does "Charged off as bad debt" mean?
did that mean the collection jews gave up on finding me? did i beat the system?

>> No.24280210

>>24280021
It means the credit card company considers you a piece of shit who isn't going to pay so they closed it and sold the debt to collections

>> No.24280244

wouldn't bother me. i never plan on taking out another loan anyway.

>> No.24280259

well if you werent a tard you would have taken as many loans as possible but now youre out of luck
also how the fuck do you default on student debt when you havent had to a pay cent for the past year?
>>24280021
basically this means they are chalking it up as a loss.
it doesnt really matter to them if you pay it or not because they will now sell this "junk debt" to government agencies who will pay full price and add the junk debt to their balance sheet.

>> No.24280266

>>24279955
Pay off the debt.

>> No.24280561
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24280561

>>24280266

>> No.24280594

>>24279955
I’ve been at 450 before by having a bunch of medical bills go to collection. Have fun pumping that score up. It’ll be awhile.

>> No.24280649

Close that line of credit. Then get a credit builder loan as well as a secured credit card.

>> No.24280648

>>24279955
>he didn't get two jobs to pay off 12k
OP i paid off 40 THOUSANDS dollars of student loans in a little under 12 years with two shit jobs back in 2016-2017. I had two jobs for 8 months. yea it sucked, but ive been debt free and i made it all back. If you can't handle 12k you're an ultra bitch

>> No.24280662

>>24280648
oh god im so sorry i meant
**** in a little under 2 years sry

>> No.24280761
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24280761

>>24280662

>> No.24280802

>>24280662
you left out the part where you lived at home or in a car because there's no way you put $1700 a month into loans with "two shit jobs."

>> No.24280864

>>24280648
I paid off $50k in student loans in a little under 2 years, by working a part time job and putting all my money into chainlink while living with my parents. Now I am a neet with 6k chainlink and I'll probably never have a job

>> No.24281588

>>24280864
Quit being a nigger and work/put everything in til at least 100 you tard. Unless you're happy with only 20mm, or 2mm per year steaking

>> No.24281664

>>24279955
Stop paying. Put it into API3. Wait until spring. Sell. This is what I did in 2017.

>> No.24281711

>>24280259
>debtmaxxx pill
Based

>> No.24281753

>>24281664
i could pay off all my debt right now with muh btc gains but idk if that makes sense right now
gonna let it ride i guess