Student Loan Debt/Credit Score

I don’t know a lot, really anything about student loans. Our son obtained a loan back in mid-2000s and he never even completed college due you a sudden death of his sister. Life changing, to say the least. His credit store has always been good. He owns his own business that is very successful. He doesn’t make millions but he pays his bills and works when he wants or needs to spend more or make more etc. he has several contractors who work for him etc.

His credit score was so high I honestly didn’t even know it could be that high at one time.

Recently he told me that he was expected to make some type of decision regarding his loan or loans and payments or extending or whatever. I don’t know exactly. But, be due he was late responding, he was dinged on his credit by like 100 pts. His credit score is now middle of the road and maybe even in needs work area. Not exaltlu sure but he’s told me it drastically affected his eligibility to qualify for home loans or higher dollar amounts for a home loan.

Does anyone know if it’s even legal for them to sing him like that for being late with a response? He was on the road for his job which affected ability to consider the decision.

He transports live animals that need attention and the road needs attention when driving and he’s sometimes on a tight schedule for a client or for the animal in harsher weather conditions etc. He can’t just drop everything and stop on the side of the highway and think about a serious decision and respond on a break from driving. He’s usually feeding or watering or sleeping or driving for 2-3 weeks straight.

Help?! If is possible. Can he get it changed or fixed and if so, how?!

Also, are there options to get assistance in paying off these loans? Are there investors like angel investors who see he had a lucrative and good business that putting his money back into is beneficial for the small business community and the country thay would possibly help him lay down his turret loan instead of investing in his company directly. So he can continue to build his company himself. He’s never had a business loan. He stated from the bottom dirt floor and has done it all on his own. No family money. He purchased a van on his own credit before all this back in 2015 or 16. That he is actually building out and selling as a camper van because he realized it isn’t as business smart as he thought to have the van for orig intent. So, he will put his own profits from that back into business investing in his own success.

Let me know. He works hard and provides income to others and does a service to rescuers and animal lovers.

Please help. Thanks!


I think the banks and credit bureaus get away with anything. So I don’t think he can get that fixed. He can always contest it and get a note added to the ding. But was his responsibility to take care of those loan notices even if he had to respond at 11 at night.

My pet peeve is that the banks started doing student loans. That is much worse than the Federal Student Loan doing it. Now the bank can take your house if you don’t pay off your student loan. It was different before when I graduated.

I am sorry about your lose. I just lost my sister to Covid.



i forgot to say-dear students. Do NOT get a loan from the bank. I’ll post an article later about why this is a bad idea. Right now the Feds are better.

The feds have a nice website about the differences in loans. Fed vs bank.…s/federal-vs-private

I did find out that they can’t take your house unless you use it as collateral. They can garnish your wages. I remember a story about someone on disability (ie 700 a month) who had their check garnished a small amount.


I am sorry to hear about that. I have student loans that I am paying on and have been forever, and they definitely affected my ability to purchase a home, due to the amount of debt. Yes, It does impact your score. I did buy a home, just had to jump through more hoops and put more down. Its worth it.

If you all know of an angel investor that pays off loans, wow, send them my way!!