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Student mortgage default has ‘dramatic and fast’ credit score rating affect, skilled says — with drop of as much as 175 issues

Student mortgage default has ‘dramatic and fast’ credit score rating affect, skilled says — with drop of as much as 175 issues

As of Monday, the U.S. Department of Education is restarting “involuntary collections” on federal pupil loans which are in default, which might severely injury the credit score rankings of thousands and thousands of debtors. Student mortgage collections efforts have in large part been on pause because the pandemic started in March 2020. A new …

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