Reply
New Member
Phoenix5
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
sdt
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!


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}