What is the impact of loan forgiveness on my credit score?

What is the impact of loan forgiveness on my credit score?

Loan forgiveness can have varying effects on your credit score depending on the type of loan and your payment history.

Will my score drop if my loans are forgiven?

In most cases, if your loans are forgiven, it may not negatively impact your credit score. However, it depends on how the forgiveness is reported.

What if I was in default before the forgiveness?

If you were in default, the forgiveness might help improve your score, but the default status could still linger for a while.

How can I check my credit score after forgiveness?

You can check your credit score through various online services, or by requesting a free report from the major credit bureaus.