My parents defaulted on a PLUS loan now my credit has been severely damaged.
My parents took out a PLUS loan for my college tuition. It is now defaulted. I can’t figure out why my credit is now severely damaged when the loan is not in my name or social security number. I am having a hard time just paying back my loans, now theirs as well. Is it legal for my credit to be ruined if the loan wasn’t taken out in my name? Also, if I start a payment plan will my credit still be damaged, or how long will it take to recover? Help!
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