I can only tell you my experience. After rehab, my credit reports showed the 3 “new” loans with the original open date and the 3 charged off loans. I tried to dispute the charged off loans as duplicate, but none of the CB’s would remove them. This was two years ago. In the last several months, the 3 charge off were removed by all 3 bureaus.
I ended up with 3 loans, the original open date, and the balances owed now are larger than the original balances due to capitalized interest.
Also, be prepared...once your loans get picked up by a new loan service, your monthly payments may change drastically. My payments were $61.00 during rehab and jumped to $270 with the new loans. Of course, I owed over $30,000. They did remove some of the capitalized interest which knocked my balance down to about $23,000.
Best of luck to you! No matter what, rehabbing the Loans was a step in the right direction for me.
Thank You for your insight and sharing your experience. After rehab, did you take action right away to remove the duplicates? Or did you wait until a new servicer picked up your loans to see a change on your CR? Did you lose AAoA after the charge off dropped off?
Would just like to know how I can get back on track soonwr than later, my Husband and I are trying to buy a home and I need to know what I can do in 60 days!
I didn’t try to dispute anything until after the new loans were reporting to the CB’s. I disputed the old loans as duplicates. I did this online because I was paying each bureau for access to my reports at the time. As I said, they did not remove them. They eventually were removed some time last year...almost 2 years after the new loans were added, without my intervention. I didn’t notice a change in my score when they dropped.
I did not lose the AAOA once the charge offs dropped. The new provider, Navient, used the information from the original loan, including the open date. 😉.
Every loan is different...could be that you would have luck getting the old tradelines off, once the new one’s report. 🤞🙏
Best of luck on your new home!