07-05-2013 10:48 AM
I made my 9th payment to GC Services (CA for US Dept of Ed) today. I wasn't due until the 15th and they advised that I could make my payment today as it is in the 10 day window before the due date without it counting as an "extra" payment. I have been thru rehab before on another set of student loans and I saw no increase on my credit report in terms of points because I had this set of four loans that were defaulted. My student loans (now not defaulted) show up on my credit report as 8 trade lines (4 with dept of ed ((which show as CO each month)) and 4 with original servicer FedLoans which show all of my lates leading to default). The DOE told me that their trade lines will be removed. I assume FedLoans will stay on, lates and all and my new servicer will pop up but be backdated to 2006 (when I got the loans originally).
Does anyone have any experience on how many points I can *hope* to gain? My other 'baddies' on my report are 2-30 day lates and 1-60 day late from 2011 to WFDS (GW them and they won't move ). I have no other collections/COs/judgments, etc. I have a car loan (with the lates mentioned above), CC's (about 30% util currently never late on any of them), and my AAoA is 6.5 years. My scores right now are 639 FICO TU, 604 FICO EXP, and 615 FICO EX.
I know everyone has different experiences and credit profiles so there is no set amount of points... I'm just looking for experiences so hopefully I can stop worrying about it so much
07-09-2013 05:00 PM
07-10-2013 01:21 PM
Blink - was DoE on your CRs or another collection agency?
I finished my rehab 6/1/13, and they updated with the CRAs on the last day of June. By last week, my scores were up approx 25 points.
07-15-2013 12:40 PM
I just got off of the phone with GC Services and they informed me that the DoE does the buying process for DoE loans on the 16th of the month and then DoE transfers to the new lender? Has anyone heard this before? But she also told me that it takes the DoE 3-6 months to update the CRs... which is way longer than everyone has posted. Having a hard time not being anxious...