Student Loan defaults

[Gregory Childs]

I have a buyer who has a 575 score - but the only thing holding him back is significant student loan delinquencies. From the credit report, it is not a single debt but more likely a semester at a time (CSA/USA Funds mostly) for $4 - 7K each, all are 120 days +. He is current on everything else; zero credit cards, no car loans, etc.and got good ref's from his previous landlord.

I remember hearing in a seminar that Student debt is the hardest to correct and rebuild credit - any advice out there? I am considering doing a lease option - but I want him to be able to refinance eventually.

Thanks for your input.

TTFN,
Greg

[Bryan Hancock]

Is he planning on repaying the debt?...crazy question :-)

My understanding is that student loans survive bankruptcy so I don't think they just go away easily.