@PrinceCorwin wrote:
@Anonymous wrote:
@PrinceCorwin wrote:
@Anonymous wrote:
Are your loans paid off, or for some other reason, no longer guaranteed by a government agency?
Not paid off. Currently paying monthly in good standing. Just trying to remove lates due to me being incarcerated during those months.
Unfortunately it is not legal for them to remove the lateness. They are required by the federal government under the Higher Education Act to report any deliquency while the loan is still guaranteed by a government agency. This supercedes the 7 year rule of the FCRA.
So do you think a loophole would be to refinance using NFCU and therefore the federal loans would no longer be active and they might possibly remove them?
They would legally be able to remove them, yes, but I doubt they would given the circumstances. If they believed you paid them in full, possibly, but unless you were wrongfully incarcerated, they would probably not. It would be worth a try at that point, though, if you don't mind paying interest. You would never be eligible to discharge the loans under any circumstances, though, once they were no longer guaranteed by a government agency.
I will tell you that my student loan lateness occurred over a year ago, and while they are supressing my scores, it's not by much, and I am able to get financing under good terms with good lenders.
