After SL rehab the LATES STAY - it is the account status that will be updated to "pays as agreed"
On another note is you consolidate SL while in default they will STAY THAT WAY FOR 7 YEARS.
Federal Law requires they (the loan servicer) report correctly while the government is Guarantying to loan.
You can try GW or disputing accurate lates after the loan is paid or consolidated.
I was told by my servicer they "might fail to respond to the verification within 30 days"
edited - Hi Timothy,
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Okay - my student loan consolidation reporting is almost complete.
All but 3 of my consolidated loans are showing as "Closed (Paid)."
When the consolidation loan - the one that has absorbed all the others - posts to my credit report, will that lower my score? Raise it? Do nothing? The loan is in deferral and the first payment isn't due until 2009.
I know I've asked this before, but I still haven't gotten a clear idea of what will happen, and I just want to be prepared.
The only reason I'm asking is that I'm afraid that when a new loan that size (over $150,000) posts to my credit, will it do me in, as far as length of credit history and new balance are concerned?I'd love it if it does nothing to my score.