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    Is it worth paying off a defaulted loan?
    • #1
    • 6th Dec 08, 10:17 PM
    Is it worth paying off a defaulted loan? 6th Dec 08 at 10:17 PM
    I asked this in the "how to improve your credit rating" thread, a few days ago, but havent had an answer. I hope there is someone who knows!

    I have two defaults (due to clear in May 2010 and Dec 2011), and I could scrape together the money to pay them back. At the moment I cant even get a mobile phone because of the defaults.

    If I paid them off, would it make a difference? Do lenders see a default that has been repaid as less of an issue than a default that is still being paid off?

    Or would it just leave me exactly where I am at the moment with a complete inability to get even a phone (for example), and my parents being out of pocket (till I pay them back)?


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