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Valued Member
hippychic823
Posts: 117
Registered: ‎01-05-2012
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Re: Getting Late Payment Removed From Student Loan

So, if I understand this correctly...once something is PIF the CA has no obligation to keep it on your CR??? Sorry if I seem dense, I'm new to credit repair....
New Contributor
lazerz69
Posts: 81
Registered: ‎04-13-2012
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Re: Getting Late Payment Removed From Student Loan

[ Edited ]

hippychic823 wrote:
So, if I understand this correctly...once something is PIF the CA has no obligation to keep it on your CR??? Sorry if I seem dense, I'm new to credit repair....

You are not being dense. :smileyvery-happy:  The feds have enacted several statutes that affect SLs. :smileyfrustrated:

 

My argument would be that the plain meaning of the statute says that once PIF it can no longer be reported.  It appears that the statute may apply to Federal Perkins Loans.

Valued Member
Cutie-Mama
Posts: 42
Registered: ‎01-09-2011
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Re: Getting Late Payment Removed From Student Loan

Any update? I am curious what you were able to do as I am in a similar situation.

Frequent Contributor
gamegrrl
Posts: 347
Registered: ‎02-09-2011
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Re: Getting Late Payment Removed From Student Loan

I've been trying for four years to figure out when the lates on my credit report that are related to my rehabbed (early 2009) student loans will drop off.

 

I've read everything I can find online, including sections 430A(f) and 463(c)(3) of the Higher Education Act of 1965, 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3), and I still have no idea when my Nelnet and Sallie Mae lates will drop off.

 

I just want to know. Not knowing stinks. They should have to be much, MUCH more clear on this.

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NewbieReed
Posts: 416
Registered: ‎12-05-2012
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Re: Getting Late Payment Removed From Student Loan


gamegrrl wrote:

I've been trying for four years to figure out when the lates on my credit report that are related to my rehabbed (early 2009) student loans will drop off.

 

I've read everything I can find online, including sections 430A(f) and 463(c)(3) of the Higher Education Act of 1965, 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3), and I still have no idea when my Nelnet and Sallie Mae lates will drop off.

 

I just want to know. Not knowing stinks. They should have to be much, MUCH more clear on this.


 

 

My advice would be to keep GWing them and even when you keep getting denied or hearing no response, GW them some more! -- i GWed Nelnet for over 2 months and was able to get 2  months of lates removed. It was for 2 consecutive payments but as we ALL know, the accounts are separated by disbursement date, so I literally had 8 baddies on my report for these 2 late payments. But thank God for these forums and the knowledge that I gained here because after 2 months of MANY MANY GW letters/emails, they've been "adjusted". Instead of just adjusting it and wiping the slate clean (as in forgiving the amount) though, they just tacked it onto my current payments (with interest). It's made my payment higher by $12 a month, but WELL worth it to see EIGHT late payments removed. :smileyhappy:

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Frequent Contributor
gamegrrl
Posts: 347
Registered: ‎02-09-2011
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Re: Getting Late Payment Removed From Student Loan

I found this to be an interesting read. Bottom line is, the court says repeatedly that even if the CRAs should have stopped reporting information, the question they were asked to decide had to do with the actions of the university:

 

It is possible that under § 1087cc(c)(3) the Consumer Reporting
Agencies should have stopped reporting the information after
Seaman's loan was paid in full, but this is, as noted in the
preceding footnote, of no moment to Temple's liability.

 

Read and enjoy...

http://www.paed.uscourts.gov/documents/opinions/12d1026p.pdf

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