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I have been doing researching and trying to find any way to get these 5 months worth of late payments removed from my credit report. I feel like I might be on to something...
So my Student Loan was in Forbearance starting 11/07/2013 and switched to Repayment on 8/08/2014.
Loan Status - Status Effective Date
IN REPAYMENT 08/08/2014
FORBEARANCE 11/07/2013
but they reported late payments for 02/2014 - 06/2014, and according to the status dates that would mean they reported lates while I was still in Forbearance. Can't I fight this since Forbearance is a status where you are not making payments? Thank you for any help in advance.
bump?
It depends on when and why the forbearance was granted. If it was retroactive, that would bring the loans current, but not neccesarily result in the deletion of the late marks.
When you're in forbearance you're still making payments on your student loan.
For some reason you missed a payment during your forbearance period.
Difference is, your forbearance is much lower than your regular payments.
If you wanted not to make payments for a specified period then you should have applied for Deferment.
Deferment you make no payments and you cannot be charged for late payments.
This link explains more about the differences between deferment and forbearance, but the long story short is that deferments are mandatory if you meet the conditions (such as being in school) and forbearance are up to the discretion of the lender and time limited (such as financial difficulty). A forbearance can be a reduced payment, or a $0 payment depending on the circumstances.
Most of the time, you should apply for a deferment if you qualify, and only apply for a forbearance if you don't have another option. Most forbearances are time-limited.