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Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Credit reporting after Rehab Completion

Hi all,

 

Was wondering what is the average time credit reports were updated after rehab completion. If anyone has dealt with NYS Hesc in rehab, that would be a plus!

 

Currently I completed October 27, 2012. The loan was picked up Novemeber 19, 2012. Received two letters stating my rehab completion and account was sold, but no adjustment to credit reports yet. I was told it would take up to 60 days to update. Anyone with success with NYS HESC being rehab and Edfinancial/Nelnet being original lender would be greatly appreciated.

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Frequent Contributor
gamegrrl
Posts: 347
Registered: ‎02-09-2011
0

Re: Credit reporting after Rehab Completion

[ Edited ]

It took me over two years after rehab was completed to get the default indicators (i.e. "paid by insurance", "defaulted", etc.) removed from the account entries on my credit reports.

 

Keep in mind that all the late payments will still show until they drop off when the appropriate amount of time has passed.

 

Edited to add: I just got off the phone with Nelnet, and I couldn't even get them to understand my question, apparently, as her response to me was "this will stay on your credit report for ten years".

 

*sigh*

Starting Score: EQ 607 TU 693
Current Score: EX via Mortgage Lender 747 - EQ myFICO 774 - TU08 (Walmart and Discover) 732 - TU myFICO 722
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Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Credit reporting after Rehab Completion

Thanks for reply gamegrrl.

Nelnet has the notation "claim filed by government on my report. Is that considered a default notation?

It also states it will fall of January 2017.

NYS HESC was the guarantor and they have the account as one account on my report as a collection account. The letter I received after rehab stated it would be deleted.

The lates don't bother me. But if the notation is an indication of default, I want it removed. And that the NYS HESC delete as promised. How did you get notation removed? Or PM me. Thanks
Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Established Member
dlee
Posts: 32
Registered: ‎05-30-2012
0

Re: Credit reporting after Rehab Completion

The "claim filed" notation is the final remark on credit reporting when a student loan defaults. If you successfully rehabilitate the loan, you can contact Nelnet and request that the claim filed status changes to "transferred."

Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Credit reporting after Rehab Completion

Thanks dlee for information.
Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Credit reporting after Rehab Completion

Someone was nice enough to pm me email address to executive office. Will post results As they come.

 

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
New Member
User648836
Posts: 7
Registered: ‎12-14-2012
0

Re: Credit reporting after Rehab Completion

In general it can take up to 60 days for your credit report to update. You can give Nelnet a call to request it be updated and they might be able to get it done in a month.

Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Credit reporting after Rehab Completion

Thanks already spoke to nelnet, but they are original lender. I also spoke to nys hesc who I did the rehab with and was given the general 60 days response, but many are stating they had to dispute instead of it coming off with other lenders. I really wanted a response from a person who actually rehab directly with nys hesc with Nelnet being original lender. That would be helpful for me so that I know what to do when my 60 days hit.
Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Credit reporting after Rehab Completion

Equifax updated one of my loans "Paid as agreed", but not the other one. It still states collections. The lates of course are all still there. i guess I am going to have to contact Nelnet to let them no they missed an account.

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
Valued Member
bradmaster
Posts: 48
Registered: ‎01-05-2013
0

Re: Credit reporting after Rehab Completion

Hi again Unique!

 

For me - when I found out in December 2012 that my loan was rehabbed and picked up by new lender - I immediately disputed it on all CRAs.  

 

Then, I found that those were deleted (pulled up new reports).  After confirmed that those were completely out of my account - I learned that I was able to get like a letter saying that your loan has been rehabbed and will be deleted in 30-60 days.

 

I think I got really lucky - I am not sure if "disputing" is such a good idea - but perhaps, may get CRAs attention (because they will contact your lender to verify your debt and your lender will say, hey - it has been rehabbed so delete it away!!)

 


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