My Boss has offered to Pay my Student Loan - Please help how to do this

[Anonymous]

Rehab, rehab, rehab, rehab, rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,rehab,.

[ba6412]

Hi again,

Thank you for all of the replies.  Everything has been very helpful.  I made a lot of phone calls yesterday to my debt collectors.

I have found the following out:

1.  A Guarantee Agency bought our my Student Loans.  They total $13,600.00. 

2.  I have 5 counts of Medical Bills that have gone years past due and are also on my report.  They total $3,000.00

I have read up on my options for 'Pay for Delete'.  I have the total $16,600.00 to pay all of it off.  I want to do it the right way though.  I don't just want to be out of debt.  I also want my credit to start rising, as I would like to buy a house in 1 year. 

What is the best way to approach the debt collectors and get them to allow me to use a 'Pay for Delete' option?  I want to be strategic and make sure I can get these off of my credit report.

Please let me know if you have any questions that will help you better answer mine.

Thank you again!

James

[ba6412]

Also, my Student Loans are through Nelnet (which is Sallie Mae).

Also, why did the gentleman before me say Rehab a bunch of times, if I have the full amount to pay the debt off??

Thank you,

James

[Anonymous]

When a student loan goes through rehab successfully then they remove the late and other derogatory marks.

[Anonymous]

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@ba6412 wrote:

Also, my Student Loans are through Nelnet (which is Sallie Mae).

Also, why did the gentleman before me say Rehab a bunch of times, if I have the full amount to pay the debt off??

Thank you,

James

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If you rehab the loan all of the derogatory marks will be removed.  If you just pay it off all of the lates and the default will remain for 7 years.

[Anonymous]

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@ba6412 wrote:

Also, my Student Loans are through Nelnet (which is Sallie Mae).

Also, why did the gentleman before me say Rehab a bunch of times, if I have the full amount to pay the debt off??

Thank you,

James

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Because if you just pay the CA you'll still have all the bad reporting on them. OTOH, if you rehab them, all negative reporting is removed, and they become positive accounts.

[Anonymous]

Rehab them to get all the negatives removed.....then just pay it off.   That way you get a positive line - and it's paid in full.

[ba6412]

I already rehabbed the loans early last year.  I then stopped paying on them.  I was told by people I spoke with at Nelnet (Sallie Mae) that if I do not pay the amount in full now by Dec. 23rd, that I will get an I-9 on my credit report, which from what I have read is the worst  marking you can get with a student loan. 

I paid the amount off in full.

As for the medical bills, only 2 out of the 5 bills was I able to get a 'Pay for Delete'.  The other 3 Collection Agencies stated that they do not allow anyone to use the 'Pay for Delete' option, because their company does not allow that and that it is against guidelines.

So how can I get these off of my credit report now that they are paid?  I have read that I may need to write letters to the 3 credit bureus.  Is that correct?

Any advice helps.

Thank you all again,

James

[Rebuilding69]

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@ba6412 wrote:

I already rehabbed the loans early last year.  I then stopped paying on them.  I was told by people I spoke with at Nelnet (Sallie Mae) that if I do not pay the amount in full now by Dec. 23rd, that I will get an I-9 on my credit report, which from what I have read is the worst  marking you can get with a student loan. 

I paid the amount off in full.

As for the medical bills, only 2 out of the 5 bills was I able to get a 'Pay for Delete'.  The other 3 Collection Agencies stated that they do not allow anyone to use the 'Pay for Delete' option, because their company does not allow that and that it is against guidelines.

So how can I get these off of my credit report now that they are paid?  I have read that I may need to write letters to the 3 credit bureus.  Is that correct?

Any advice helps.

Thank you all again,

James

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No, you don't write letters to the credit bureaus for Goodwills. You write them to the entity listed on your credit report, since that is who the collection is listed with. Since these are medical bills, you can also utilize the HIPAA(whychat) method to get them removed. You'll need to google that since we can't get into specifics on how to go about doing that on these boards.

P.S. - It helps us when asking for help if you leave all pertinent info in your thread at the beginning instead of leaving breadcrumbs for us to find.