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Established Contributor
Posts: 565
Registered: ‎06-11-2007
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"Courtesy Credit Clear" for student loans!

I got off the phone with the servicer of my current student loans--ACS (American education services) I asked her where I could send a Goodwill letter to remove lates from my loans--she said that ACS has something called a "Courtesy Credit Clear" The creditor grants to the borrower one time on the life of the loan to remove late payment(s). The process takes up to 60 days. She says that ACS is not the only student loan lender who does this. (I don't know if Sallie Mae does it.) But there could be hope for getting something removed.

I used tuscani's GW letter as a base format and then tweaked it to best suit the nature
of my situation. So to some student loan companies GW letter = "Courtesy Credit Clear" letter.

Maybe there is hope in erasing the past after all!
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
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Re: "Courtesy Credit Clear" for student loans!

Cool! Did you see the recent thread I made regarding my woes with Sallie Mae?
Established Contributor
Posts: 565
Registered: ‎06-11-2007
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Re: "Courtesy Credit Clear" for student loans!

actually I did not see your recent thread but I will go search for it...hope there are some good things going on there!
Valued Member
Posts: 34
Registered: ‎07-19-2007
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Re: "Courtesy Credit Clear" for student loans!



rifleman wrote:
I got off the phone with the servicer of my current student loans--ACS (American education services) I asked her where I could send a Goodwill letter to remove lates from my loans--she said that ACS has something called a "Courtesy Credit Clear" The creditor grants to the borrower one time on the life of the loan to remove late payment(s). The process takes up to 60 days. She says that ACS is not the only student loan lender who does this. (I don't know if Sallie Mae does it.) But there could be hope for getting something removed.

I used tuscani's GW letter as a base format and then tweaked it to best suit the nature
of my situation. So to some student loan companies GW letter = "Courtesy Credit Clear" letter.

Maybe there is hope in erasing the past after all!


I tried a GW letter with the "Courtesy Credit Clear" jargon and it did not work. Has anyone esle treid using this clause to try and get ACS to reverse lates. My late was from August of 2006 for 60 days. Don't know how much this is effecting my scores but it would be nice to get rid of it. Anybody with any good ideas on what to say to a student loan creditor?
3/24/2008: EQ (621), EX (615), TU (649)
6/19/09: EQ (682), TU (692)
9/8/2010: EQ (699), EX (716), TU (707)
Frequent Contributor
Posts: 256
Registered: ‎09-18-2007
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Re: "Courtesy Credit Clear" for student loans!

Rifleman-
 
Do you have the number and/or the name of the person you spoke with at American Education Services?  I tried calling today and the CSR I spoke with didn't know about the Courtesy Credit Clear program.  My student loans are through American Education Services (AES) - is this the same company your studen loans are through?
 
Thanks-
 
Cathleen
10/22/07 (FICO) EQ 544 EX 520 TU 518
03/04/08 (FICO) EQ 606 EX 599 TU 601
04/24/08 (FICO) EQ 600 EX 580 TU 608
06/02/15 (FICO) EQ 578 EX 561 TU 589
New Visitor
Posts: 5
Registered: ‎01-24-2008
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Re: "Courtesy Credit Clear" for student loans!

My First post on these forums.  Thanks to everyone who has helped me while I lurked in the shadows!  Finally I can contribute something worthwhile to these forums.
 
I do have expierience with the AES program that I believe they referred to as a "rehabilitation program".  I as so many on these forums had not paid my loans and had been in default a couple of times on my student loans in particular.  They offered me this program that worked like this:
1) They wanted a new payment amount that was higher than the previous one to help me catch up.  Mine was about a 50% increase.
2) They agreed that if I allowed them to auto deduct this payment for 12 consecutive months that they would erase my previous negative histories and turn the payments back to me from auto-deduction within 4 months after completing my obligation.  One stipulation was that if I ever fell 30 days behind again they would re-report all the negative history.
3) I did as agreed and never missed a payment.  As a matter of fact paid the debt off early.
4) They uphelp their end of the agreement and my loans show a perfect credit history dating back to 1994!!!!!!!!!!!!!!
 
Here's the kicker of the whole thing.  This debt was sold from one lender to another in 2003 with the same account numbers except for the last digit going from 1 to 2.  The original still reported all the negative history so I had the same account showing for the same period of time however 1 showed perfect payment history while the other one showed horrible history until sold in 2003.  They did as agreed however I wasn't satisfied.  I called AES and said they didn't hold up their and they said they did after explaining it to me.  I explained to them that isn't the way I understood it.  I continued to sweet talk them and after speaking to a supervisor they agreed to update the sold accounts as well.  I now have in my possesion copies of letters to each of the CA's saying please remove all negative entries off these accounts.  These were supposed to be mailed to the agencies but apparently EX and EQ have chosen to ignore them (TU updated accordingly), so in tomorrow's mail there will be a letter to the CA's with proof directly from the OC.
 
When  all is said and done I will have turned a horrible credit history on these accounts of 14 years in to a perfect one!  I had a score arround 360 in late 2003, 530 in the summer of 2006  and through this work and other's I am in the high 600's on all bureaus.  Once I get these updated and my last charge off falls off my report in April I'm sure I will be in the lower to mid 700's. 
 
Sorry but I don't know off the top of my head who I talked to.
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