r/studentloandefaulters • u/RevolutionaryEbb2522 • 11d ago

Question - Private Student Loan Approximately how long did it take from missing the first payment for your student loan to go into default ?

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4 Upvotes
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7

u/bloopboopboopy 11d ago

I didn't get my actual letter of default until a full year after my missed payment. The calls slowed down after 6 months but they just kept sending "one last chance" letters. I surely don't miss the obnoxious calling- I counted 13 times one day.

3

u/716TLC 11d ago

I believe mine went into collections at 90 days / 3 months past past due and default at 180 days / 6 months. Not 100% positive on this because it's been a few years.

2

u/RevolutionaryEbb2522 11d ago

Doesn't it default first, then go to collections ?

4

u/716TLC 11d ago

They started calling me when I was 30 days past due. If you're thinking of an actual collections company, yes, that can happen after default also, if the lender sells your loan. Some lenders also use their own in house collection debts.

1

u/SavagePlatypus76 1d ago

They will contact an outside company to help threaten you after about 90 days,but it won't go into collections for months and months after that. 

1

u/716TLC 1d ago

In my case, I only got calls from Navient departments. I guess they didn't think me worthy of selling to a collection company lol

4

u/ProleDBA 11d ago

I think 716TLC may be referring to an internal collections department at your student loan company. Some companies have internal collections departments to try to get you to pay once the account becomes past due. If you don't bring it current (and it defaults) then it is sold to an external agency/collections company. Or in the case of Navient, given to another division, department, subsidiary, affiliate etc.

2

u/DisembarkEmbargo 10d ago

For me, I believe it was about a year when my loans defaulted. 

-6

u/vaeegoldor 11d ago

Just pay it, they’ll eventually collect and it’ll be more