I just completed a 9-month rehab through ECMC. Within about a week, that loan (which was from 1994 and originally serviced by Sallie Mae) was purchased by AES. I only know this because I checked the status on the ECMC site. Before this occurred, I sent a request to Sallie Mae to re-purchase the loan, since they service all my other loans. I have a few questions for anyone who has had experiences w/ loan rehab and/or AES, as well as IBR:
1. Has anyone else dealt with AES for student loans? Most of the "reviews" I have found online are negative...
2. Has anyone else had loans re-purchased by AES and been successful in getting Sallie Mae (or another servicer) to re-purchase?
3. Does anyone know or have experience with IBR, and trying to get a loan through another servicer set-up for IBR?
Any comments or info would be much appreciated. My loan was "rehabbed" as of 04/03/2012, and ECMC told me they report to the CB's the first Sat of each month only. Since the first Sat was 04/07/2012, I guess they should've reported last week.
Thanks in advance for any input. :-)
I didn't do re-hab but aside from the initial contact, they were OK to deal with.
"My loan was "rehabbed" as of 04/03/2012, and ECMC told me they report to the CB's the first Sat of each month only. Since the first Sat was 04/07/2012, I guess they should've reported last week."
I'm about to make my 9th payment, and I've been wondering how quickly they report the changes. How long until your CR reflected the change?
Can any of you update as to what happened with AES and your CR? I just got my rehab completed letter and it now shows the owner as "AES/PHEAA REHABS" I'm wondering if this is how it will report to the CRAs and how long it will take for updates to my CR post rehab.
I rehabbed my loan through AES (had defaulted with Nelnet). Now AES/Sun-Trust Bank is the servicer on my loan. My rehab was complete in December and the new tradelines didn't hit my account until April! I started calling in February and sent them a letter in March to try to get them to add the TL to my credit report. Not sure how much good that did though. The reps I talked to just told me to be patient. On my credit reports is says AES/SunTrust Bank and is listed as an "education loan" on Experian and as an "installment loan" on the other bureaus.
As far as their reputation goes, I haven't had any major issues with them yet, but it's only been a few months. I paid my March bill early and for some reason it didn't post to my account (but it had come out of my checking account). I didn't realize it until after the due date. When I called, the rep was very apologetic and fixed it right away. Let me know if you have any other questions.