How bad can your credit be before they turn you away? I just found out that I DEFAULTED on my student loans. The bank had approved my deferment but apparently someone screwed something up and they didn't have any record of this deferment. Fortunately, I kept the proof - the deferment approval letter - so they're going to reverse this default and contact the credit reporting agencies to get the delinquencies and subsequent default taken off my reports. Problem is, all this takes time. After all that's done, I have to get a report from all 3 to make sure everything was completely taken care of because I don't trust either the bank or the agencies to get it right. Meanwhile, I'm afraid it will affect my background check when they pull my credit reports, being that a default is a pretty serious thing. I worked way too hard for this slot to lose it over some stupid mistake made by the bank!