Fedloan Servicing GW letter

[CreditOCDinCali]

I sent a GW letter to Fedloan Servicing Ombudsman to delete 11 fedloans with 6 months late. Here is what happened.

I was in and out of college during my early twenties. I had taken student loans out in 2007. I finally graduated the summer of 2012. From 2010-2012 my loans were in forbearance. Fast forward to January 2013 I get a letter in the mail from Fedloan that my loans have been turned over to a collection agency. I was stunned! I immediately called them and asked how come they didn't contact me sooner. Come to find out the mailing address, phone numer and email address they had were all outdated and from the year 2007. All this has changed including my work number, cause I got a new job since then. They worked with me and took the loans back from the collection agency, but they wouldn't delete the 6 months late and there are 11 loans showing 6 months late. I've since consolidated and they closed those out, but they're still showing on my credit report as closed. Do those loans still effect my credit score? I assume they do causd they're showing under derogatory.

[CreditOCDinCali]

I apologize, they're not showing under "Derogatory", but "Current" as closed accounts.

[gdale6]

Yes they affect your score and will do so the entire time they are on file. As they age they impact your score less and less but they are major derogs anything 90+ is.

[2b2rich]

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@CreditOCDinCali wrote:
I sent a GW letter to Fedloan Servicing Ombudsman to delete 11 fedloans with 6 months late. Here is what happened.

I was in and out of college during my early twenties. I had taken student loans out in 2007. I finally graduated the summer of 2012. From 2010-2012 my loans were in forbearance. Fast forward to January 2013 I get a letter in the mail from Fedloan that my loans have been turned over to a collection agency. I was stunned! I immediately called them and asked how come they didn't contact me sooner. Come to find out the mailing address, phone numer and email address they had were all outdated and from the year 2007. All this has changed including my work number, cause I got a new job since then. They worked with me and took the loans back from the collection agency, but they wouldn't delete the 6 months late and there are 11 loans showing 6 months late. I've since consolidated and they closed those out, but they're still showing on my credit report as closed. Do those loans still effect my credit score? I assume they do causd they're showing under derogatory.

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They will affect it in the same way any other OC's closed tradeline with those lates would.  These tradelines will probably drop off your reports 7 years from the DOFD that sent them to collections in the first place unless they were caught up for awhile before consolidating.  Either way, I would imagine your DOFD was September of 2012 if they transfered them to a collection status in Jan 2013.  I would guesstimate at the earliest, these would drop off of your report the mid to end of 2019.

I would also guess that you consolidated with someone like Direct Loans.  These are new tradelines with a clean slate and actually an opportunity for you to help your credit if you keep them in good standing until you can pay them off.  Depending on the amounts, the only thing that may not boost your score about them is the amount owed compared to the original amount of the loan if it has not been reduced much.

[CreditOCDinCali]

Thanks for the info. The new consolidated loan is up to date and current- no late payments. I'v learned to stay on top of my student loans. I have the Credit Karma app and I also signed up with Experian. I get updates and alerts to keep me informed of what's going on with my credit. I hope my GW Letter will help in getting those 6 months lates deleted