Early Exclusion Time

Anonymous · ‎11-19-2017

I have 5 nelnet accounts that have been closed and refinanced by them into two accounts. Those 5 accounts have a combined 48 90 late payments. They are suppose to fall off April 2018. Time to start calling and trying to get some EEs. I'll update with results. God I can't wait to see the results. The last of my past struggles.

Adkins · ‎11-19-2017

I wouldn't try for EE further out than two months. I've read quite a few posts where asking for EE actually backfired. Good luck!

Last HP 08-07-2023

Anonymous · ‎11-19-2017

I had some good luck a few months back with an old charge off. Was done about 3-4 months early on TU. From what I've read in the forums. TU will do up to 6, EX some success up to 6 but more at 3 month mark, and apparently EQ rarely does even up to 3. I'm just so excited that it's so close I kinda wanna try. Nelnet has been a thorn in my side for so many years. If I knew at 23 about credit what I put in practice at 30.... They should really teach this stuff in High School.

Moneyklutz · ‎11-19-2017

@Anonymous wrote:
...They should really teach this stuff in High School.

QFT

Grats on your progress!

RobertEG · ‎11-19-2017

If the student loans are federal, the normal credit report exclusion provisions of section 605(a) do not apply.

On what are you basing the statement that they are becoming excluded in April of 2018?

Anonymous · ‎11-20-2017

Apparently stupid people on the phone at TU lol DoFD is marked as 90 on May 2011 so I asked them to confirm that my DoFD would be February as they stuttered and said yes. I got really excited. Nelnet had declined GW for years.

Anonymous · ‎11-20-2017

Well I called TU and I'll update with the results once I hear back from them. Wish me luck!

RobertEG · ‎11-20-2017

Unless there has been a reported charge-off or collection, there is no DOFD.

The DOFD is only defined for a charge-off or collection, and does not apply to the exclusion of any other derogs.

Additionally, even if there is a reported CO or collection, and thus a reported DOFD, the Higher Education Act included explicit provisions that exempt the normal exclusion of a CO or collection. The exclusion based on DOFD only kicks in once the debt is paid.

If the account remains delinquent, there is no exclusion date for a federal student loan for which to request an early exclusion.

Are the loans now paid?

Anonymous · ‎11-20-2017

Yes they show paid with 0 balance. However that is due to the five accounts being refinanced into two accounts. Those two accounts were created with new open dates of Dec 2014.