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Backdated Forbearance with "valid conditions"?

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jesncork
New Visitor

Backdated Forbearance with "valid conditions"?

Hi, I am trying to get ACS to backdate a forbearance. I was unemployed and my loans got up to 120 days late. I had a forbearance placed that backdated to the original date of delinquency. I started making timely payments again 2 months ago.

 

I requested they remove the 120 day late form my credit, since the forbearance backdates to the original date of delinquency, but they're not biting. I'm trying to buy a house, and I really need to get this resolved! They state that they can only remove the late from my credit report if a "valid condition" existed at the time of the delinquency. Does anyone know what a "valid condition" might be?

 

Thanks!!

 

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1 REPLY 1
SCF
Valued Contributor

Re: Backdated Forbearance with "valid conditions"?

Basically, because you requested the forbearance after the lates occured, the lender does not have to go back and change those payments to "on-time" unless you can convince them that there is a good reason for them to do so.

 

Some good reasons might be that you were unable to file the forbearance in a timely fashion for reasons outside your control, or you tried to file it and something went wrong, etc.  If the mistake was theirs - for instance they "lost" your forbearance request, or incorrectly denied it, then they may be required to update the reporting if you prove what happened.  You should ask them what specifically they consider a "valid condition" in your situation and then gather proof for whatever case you are trying to make.

 

Why didn't you file the forbearance when you first realized you wouldn't be able to pay?

Message 2 of 2
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