I don't want to pawn off Amy Winehouse, so I butchered her famous song in the title above. Rehab can be good for many things: getting people off nasty substances, building bone or muscle strength, and in the case of student loans gone bad. I've discussed in earlier posts how late student loan payments can mess with your credit terribly. It's good to know that in advance so you can keep this from happening. That's all well and good, but what if student loans have already damaged your credit?
If you have federal loans, you may be in luck. You can rehab your loans! Make sure to rehab your loans directly with your loan servicer! Here is official information from the government about loan rehab and rehab options. DO NOT sign up with a company that makes you pay a fee with the promise that they will undo the damage. There are many scams out there! The CFPB also has good info. Report any violation of your rights directly to the CFPB!
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