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Member
LancerEvoIXMR
Posts: 5
Registered: ‎12-04-2012
0

ACS still reporting 120+ days late.

After reading through some of the 37 page thread about rehabbed loans and seeing joy from people as they had their credit cleaned up nicely through the rehab process.  I went through it back in 2009 and my loans are currently with Federal Direct.  They have been successfully rehabbed because I was able to go back to school in the spring of 2011.  Very glad I went through with the rehab because I actually have something of a career now. 

 

It is my understanding that the loan guarantor must stop reporting all negative information from the loan.  I called ACS and informed them that the loans have been rehabbed and I would like for them to remove the negative status.  Well this didn't work at all and the lady on the phone informed it was their right to keep reporting this even though there was a $0 balance.

 

Am I wrong here?

Current score: 606 Goal Score by 2016: 720
Established Contributor
bahbahd
Posts: 731
Registered: ‎08-12-2011
0

Re: ACS still reporting 120+ days late.

I believe rehabilitation does not (is not meant to) remove payment history. It simply removes the default status on the loan itself. Some people have been lucky with the entire old account being deleted or the whole payment history, loan status and comments being updated to positive. This is not true for everyone. It is really up to the owner of the tradeline and what their policy has been.

Member
LancerEvoIXMR
Posts: 5
Registered: ‎12-04-2012
0

Re: ACS still reporting 120+ days late.

I guess I am going to try and GW them until they remove it.

Current score: 606 Goal Score by 2016: 720

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