Hi all,
About a week ago I got a notice that I was 60 days behind on a student loan. I didn't know about this account. It was a federal loan but it was processed through a company called ECSI, whereas the other 95% of my loans are Direct Loans. Naturally, I called the company and explained what had happened. Fortunately, they let me know that if I sent over documentation that my other Direct Loans were in a forbearance during this time, they could backdate a forbearance on my account and the delinquency would be removed from my report.
I faxed over the information (thankfully my Direct Loans were in a forbearance until next month) and they updated my account to show a forbearance, removing the negative status. Upon calling the company, I was told that the 30th would be the next time that they reported to the credit bureau, and at that point the negative remark would be retracted.
My question is, does anyone here have experience with this sort of thing? Is there ever a problem in the delinquency being removed? I've never had a late payment, and seeing my score drop 60+ points after the delinquent account hit my Experian report was heart wrenching, to say the least. Can I expect the process to be smooth, or should I be anticipating having some difficulty in seeing it fall off?
Sorry to ask so many questions. Like I said, I've never been in a situation like this. To make matters worse, I was planning to buy a car in a couple of weeks, so the timing here it just about as terrible as it could be.
Thanks for any help!
