Author Topic: How does paying back defaulted loans affect credit score?  (Read 1850 times)

Watermen

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How does paying back defaulted loans affect credit score?
« on: March 15, 2013, 10:15:44 PM »
Just wondering if it give any incentive for those who choose to default a loan.

yojoakak

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Re: How does paying back defaulted loans affect credit score?
« Reply #1 on: March 16, 2013, 01:09:34 PM »
If they pay off the whole thing, then it's probably good.

If they only pay off a little bit before defaulting again, then it's probably bad.

Kind of an odd incentive if you ask me.