Law School Rebuild

[The_Pharoe]

Hello myFICO,

I'm new to contributing to the forum, but have been reading through posts for some time now.  I hope this is the correct place to post this, because its mainly about Credit Rehab, but the major problem are the law school loans. 

Hear goes....

I have pulled my credit reports from myFICO for both Equifax and TransUnion, and they show some pretty bad negatives on both which I'm going to outline in the next posts by each bureaus (TU/EQ)

stay tuned....

[guiness56]

Hi and welcome to the forums.

If you haven't done so already go to annualcreditreport.com and get 1 free report from each CRA.  You can get one every 12 months.

Read the stickies in my signature to get good information and learn what abbreviations are used.

When you post a TL, omit any personal information.

[The_Pharoe]

As of 3/24/13

TransUnion: 555

Things Hurting FICO

# of Accts - 60 day lates or worse: 10

# of Collections on report: 2

Most recent late payment - 1 month ago

Most recent collection - 11 months ago

Past Due Balance Amt. - $91,194

• Oklahoma St. Guantd Agncy: there are actually 2 accounts with the same acct. no. that show two different balances of $10,689 and $18,679 respectively, status in "Collections"
• I believe these are the loans i am currently rehabbing with GC Services and make my 7th of 9 payments at the end of the month (will check to make sure).
• OK Student Loan Auth.: there are 2 of these (no acct. no.) showing a balance of $0 w/a status showing "Payment after charge off/collection"
• Dept. of Ed./Nelnet: balance shows $0, status "120 days past due"
• OK Student Loan Auth.: balance of $0, status "120 days past due"
• AES/BofA: balance of $37,919, status "90 days past due" - Has since been placed back in deferment, retroactively  
• AES/BofA: balance of $15,407, status "90 days past due" - Same as above
• AES/BofA: balance of $8,500, status "90 days past due" - Same as above
• Toyota Motor Credit: balance of $0, status "paid/paying as agreed w/neg. indicator"
• 30 days late: 12 times (6/06 - 5/09)
• 60 days late: 3 times (2/09, 9/08, 12/07)
• 90+ days late: 1 time (1/08)
• This loan was eventually paid off in full (lump sum), but still has that neg. indicator.  I'd like to get that removed...how?

Collections:

• Med1 02 Labcorp: balance of $67 status "Placed for Collection"
• I'm willing to pay this if it will get it off of my report quicker, although it is my brothers "visit" that wasn't paid.  I've NEVER seen this dr,
• Keller Graduate School:Oridinal debt of $1,579, Current Balance of $0, Status "Dispute resolved - Customer Disagrees"
• I made an agreement to PFD and did so, but it seems like they aren't holding their end of the deal.  I remember making this agreement with the OC, NOT the CA (i will check on this)

[The_Pharoe]

Equifax: 523

Things Hurting FICO

# of accts 60+ days late: 11

# of collections on CR: 1

# of accts w/missed pmts: 11

Short credit hist.

Balances on acts past due: $61826

• Everything is the same as listed above from the TU CR, except the item below.  I'm not exactly sure what it is, but i will look more into this one as well and update once i find out.

• Dept. Of Ed: balance of $38,161, status "120+ past due"

Collections

• Med1 02 Labcorp: balance of $67 status "Placed for Collection"
• I'm willing to pay this if it will get it off of my report quicker (possible PFD??), although it is my brothers "visit" that wasn't paid.  I've NEVER seen this dr,
• Looks like the Keller Grad School PFD was applied to EQ.  How do i go about making sure its updated on my TU CR?

[The_Pharoe]

After reading through my CRs, I'm starting to realize that, after the rehabilitation, the killers are the "late/missed payments" that date back on a  lot of my law school loans, b/c I wasn't aware of how to manage them correctly concerning deferment/forbearance/etc.  

What I would like to know is the best way to go about getting those removed from my CR, or the best place to start in cleaning all this up?  Would it be to email/snail mail GW letters?  Or something else?

Any help getting this all straight would be greatly appreciated.  Thanks in advance