Credit Cards Center Credit cards from our partners
Reply
Member
Posts: 7
Registered: ‎06-29-2014
0

Defaulted Student Loan, Rehab and Consolidated Loans but Credit Status Reflecting Negatively

[ Edited ]

Hi All,

 

Ok..I have an issue.  I had defaulted on my student loans and went into a rehab program and got them current and in good status.  As a part of that, a consolidation was offered in which it would pull all the loans (which I had over 15 small ones) together as one AND was suppose to be updated as paid, zero balance and all defaulted status cleared.  I completed this program back over a little over 2 years ago.

 

Well, here I am now clearing credit and Nelnet is showing 120 days past due and last date of reporting last  2010.  Today, I pulled a credit report and saw where they are showing "OPEN" accounts and closed ones 120 days past due still.  From what I understand, the defaulted status and the accounts once paid were to be removed and not show a negative status.  Is anyone familiar with the loan rehabilitation that was passed by Congress? Here is the link:  

http://www.gpo.gov/fdsys/pkg/CFR-2013-title34-vol4/pdf/CFR-2013-title34-vol4-sec682-405.pdf

 

Thanks for your help in advance......:-)  I have to laugh to keep from crying at this nonsense....I mean its so annoying!

 

 

sdt
New Member
Posts: 4
Registered: ‎04-18-2014
0

Re: Defaulted Student Loan, Rehab and Consolidated Loans but Credit Status Reflecting Negatively

I went through the same thing with student loan rehab. Most of my accounts now show a clean payment history and an account in good standing. I do have 1 that continues to show lates... I continue to write letters and dispute, but thus far I have gotten nowhere. I have a letter from rehab, that I continue to send in and it has gotten me nowhere.... I feel your pain!

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.