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Great Lakes - no to goodwill letter

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Anonymous
Not applicable

Great Lakes - no to goodwill letter

received this back after emailing them a goodwill letter to get rid of a 60/90 on my report from 2011. I sent it to the ombudsman and their customer service email. any other ideas?

 

This email is in response to your recent correspondence concerning your account(s). We understand that you are requesting delinquencies reported on your account(s) in the past be removed.

 

The Higher Education Act of 1965 requires that Great Lakes report the status of all serviced student loan accounts to the credit bureaus. Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectively. We are audited to ensure our compliance with these requirements.

 

Upon receiving your request for an adjustment to the data that we credit reported on your student loan account(s), we re-evaluated to ensure no errors were made that would lead to, or result in, inaccurate delinquency reporting (such as misapplication of payments). No such errors were made.

 

We also reviewed your request for a possible credit adjustment, but unfortunately, you could not be approved for such an adjustment. Please continue to make your payments as scheduled each month, or proactively seek options from us anytime you are in need of repayment assistance. This could prevent future negative credit reporting on your student loan account(s).

 

Please let us know if you have further questions.

Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Great Lakes - no to goodwill letter

If it is a federal student loan, then they are correct in the statement that the Higher Education Act mandates reporting of account derogs.

They have a statutory requirment.

 

Once the account is returned to good-standing, the normal exclusion period of 7 years from date of occurence then applies.

There is a rehab program for removal of derogs on federal student loans, but the process must be requested while the account remains delinquent.

If you have paid the delinquency back into good-standing, you can no longer rehab the lates, and must wait for the normal credit report exclusion at 7 years.

Message 2 of 3
Anonymous
Not applicable

Re: Great Lakes - no to goodwill letter

Yeah I have called them a few times.  No go.

 

Message 3 of 3
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