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I'm sure this is a common story - but maybe my situation is a bit different.
I got a few 90-120 day lates with Nelnet (YUCK) a lloonnnggg time ago. They were literally my first student loans, and I didn't know much about them - I know that doesn't excuse my late payments - but there it is. My father passed away, and I was out of school for awhile - so obviously my address had changed, as well as my email (only email was through my university, which I wasn't attending anymore), and I honestly don't even know if they tried to contact me. Once I got back into school a few months later, I found out what had happened.
Anyway, fast forward several years - I'm married, 4 kids, etc - and we're about to buy a house. I have no idea how much these lates are affecting my score, but whatever I do it doesn't seem like I can get above a 700 reliably - and this is with very long credit history, several cars paid off, a lot of credit with very low balances (1-5%), etc. I've had a few lates 30 day lates like everyone else, but the newest is 2-3 years old. The only thing I can think of is these Nelnet lates.
The unusual part is that a few years ago, UHEAA bought out my loans from Nelnet (I never asked them to). Now my loans are with UHEAA - and Nelnet isn't very helpful to boot.
Does anyone have any advice? I owe about $30k, and can pay them all off in one lump sum. However, I've read a few guides that say to start paying the minimums monthly to show good faith and give them more reason to see a good history. But the fact that Nelnet doesn't even own the loans anymore is making things complicated.
Is there any standard way to go about doing this?
I have my student loan with GL. It was my first student loan and I did not know who or when my payment would start. They had been sending the info to an old email that I had not used in a long time. It took close to 9 months and finally I spoke with an customer advocate with GL. Finally, I just received notification that they are removing my lates and it was put in electronically last Thursday 6/5/14. DONT give UP! Push and keep asking. Explain the delima, and put the individual in your shoes. Its an arduous process, but you can get to the right person. I don't care if you find out who the CEO is.
I'm really sorry about the Loss of Your Dad. Life, that is what is important. There are people who value it as much as you do, and do have a heart to do something.
Be Bless and Good Success!
@daudi81 wrote:I'm sure this is a common story - but maybe my situation is a bit different.
I got a few 90-120 day lates with Nelnet (YUCK) a lloonnnggg time ago. They were literally my first student loans, and I didn't know much about them - I know that doesn't excuse my late payments - but there it is. My father passed away, and I was out of school for awhile - so obviously my address had changed, as well as my email (only email was through my university, which I wasn't attending anymore), and I honestly don't even know if they tried to contact me. Once I got back into school a few months later, I found out what had happened.
Anyway, fast forward several years - I'm married, 4 kids, etc - and we're about to buy a house. I have no idea how much these lates are affecting my score, but whatever I do it doesn't seem like I can get above a 700 reliably - and this is with very long credit history, several cars paid off, a lot of credit with very low balances (1-5%), etc. I've had a few lates 30 day lates like everyone else, but the newest is 2-3 years old. The only thing I can think of is these Nelnet lates.
The unusual part is that a few years ago, UHEAA bought out my loans from Nelnet (I never asked them to). Now my loans are with UHEAA - and Nelnet isn't very helpful to boot.
Does anyone have any advice? I owe about $30k, and can pay them all off in one lump sum. However, I've read a few guides that say to start paying the minimums monthly to show good faith and give them more reason to see a good history. But the fact that Nelnet doesn't even own the loans anymore is making things complicated.
Is there any standard way to go about doing this?
Hmm, this is surprising to me! I'm brushing the bottom of 700 despite being in a situation similar to yours (last lates one year ago). By which I mean, you really should be able to crack 700 despite those lates. How many positive loan (rather than credit) tradelines do you have?
If you search around this forum you'll see people have had some success receiving goodwill removal of lates from Nelnet. There's a thread from a few years ago with a guy who was giving out the email he used left and right. I, however, missed the boat, and haven't been able to find a good point of contact.
I'll let you know if I do. Let me know if you do, as well .
@Drsgwld wrote:
As soon as I find out the impact of the GW, I will post the score jump. This would give me 3 timely loans.
Congratulations on that by the way! Can you share more of your strategy for getting the right person?