Credit Card Center Advertiser Disclosure†
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...
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.