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Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

How many of us finish rehab in September?

I know there's at least a few....the wait is getting more agonizing now that it's getting close!

Me: Four Stafford/Direct Loans, defaulted in 2009, ninth payment scheduled for 9/15. Have rehabbed through FAMS and had zero problems.
I also have a Perkins loan being rehabbed through Coast Professional. They've also been pretty easy to deal with, but that one doesn't end until March.

 

It's funny how time goes by slower now that the end of rehab is close; it's like waiting for a paid-down card to update to the bureaus. The space-time continuum seems to just streeeetch right out.

 

 



New Member
wizardcatcher
Posts: 4
Registered: ‎08-18-2012

Re: How many of us finish rehab in September?

I just finished a re-hab this aug 15, from great lakes all consolidated and spoke with them and they said i was rehabbed and it is being processed for a lender, and it will take about a month for everything to come off my credit. I hope to gain at least 40 to 60 point bump. Checking every day however; and I am presently at 622, up from 520 last year.

I just hope the new loan is like my old loan which was half of what i was paying to rehab.

New Member
CPACJ
Posts: 1
Registered: ‎10-04-2012

Re: How many of us finish rehab in September?

It's been a long time coming...I'm new to this but...i've actually been in the rehab process for about 18 months or so. Long story, smh. My last payment was actually Aug. 31. My agency was/is GRC and now I'm currently waiting for them to report me as being out of default. But there is something strange...I've been in a "detective" mode if you will and I've learned that Sallie Mae is my new lender and they've already set up my new payment sched but my loans are still showing up as a defualt status on the GRC side... Not sure why that is

 

But at any rate, glad to see the light at the end of the tunnel

New Contributor
cp94550
Posts: 70
Registered: ‎11-05-2011

Re: How many of us finish rehab in September?

I finished my last payment in August through Premiere Credit. My loan was picked up by Direct Loans. According to Dept. of Ed my reports should be cleared up by November 1st. Hoping to see a decent boost!

Starting Score: 560 on 11/1/11
Current Score: 578 on 10/04/12
Goal Score: 650 for starters

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Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

Re: How many of us finish rehab in September?

This is getting weirder by the day....

So I'm picked up. Nelnet is my new servicer, and I made a small payment to them to test out the online system. (My first payment isn't technically due until November.) Myeddebt.com is showing my loan balance is zero, and that the loans have been transferred.

BUT. NSLDS.ed.gov says that my loans are stil in default. The loans are, I believe, not reporting correctly to the CRA's yet. And I haven't been able to get a definitive answer as to whether I'm off the tax offset list for next year.

Trying very hard to stay patient and wait this out. High fives to all of us for finishing rehab, though!



Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012

Re: How many of us finish rehab in September?

[ Edited ]

InvincibleSummer2 wrote:

This is getting weirder by the day....

So I'm picked up. Nelnet is my new servicer, and I made a small payment to them to test out the online system. (My first payment isn't technically due until November.) Myeddebt.com is showing my loan balance is zero, and that the loans have been transferred.

BUT. NSLDS.ed.gov says that my loans are stil in default. The loans are, I believe, not reporting correctly to the CRA's yet. And I haven't been able to get a definitive answer as to whether I'm off the tax offset list for next year.

Trying very hard to stay patient and wait this out. High fives to all of us for finishing rehab, though!


This. I just got an email from Sallie Mae (my original lender) about my account information. Logged into the website, and there is my loan. I don't owe until the end of November either. I never got a letter, I never got a "congratulations" or "welcome" or anything.

 

I also checked the NSLD. It has not updated yet. Think of that like a credit bureau... it takes a few days to update. I know this because I watched it daily after a SL payment to see how long it took the balance to go down. Just relax!!!!

 

And of course the loans aren't reporting to the CRAs yet. That could take a couple months depending on your guarantor and lender. These big changes won't happen overnight. Do let us know how it goes. I think some folks had good luck disputing guarantor accounts to make them disappear faster.

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

Re: How many of us finish rehab in September?

Progress! NSLDS is updated, and I think I read on here someplace that Nelnet's reporting date is third Sunday of the month so possibly I could see some changes then.

Over in the Garden Club they talk about the "app-itch". This may be something similar :smileyhappy: I have a friend who's a real estate agent and he keeps telling me how I should get into a house ASAP. I will, but not until I'm good and ready. I'm still in my least until May anyway. I figure by then, I will be debt-free except for Student Loans, and in a much better position credit-wise.

Here's to marathons, not sprints.



Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012

Re: How many of us finish rehab in September?

Woohooo! This is huge!!

 

With a few major exceptions, these things tend to work themselves out in the end. The waiting sucks for sure. I feel like the 8 months of rehab I went through were absolute torture!! Longest 8 months of my life. 

 

I'm glad things are starting to come together for you. Doesn't it feel great to be out of default??

 

I hear you on the app itch. I'm driving a 15 year old car and will run over 230k miles ... tomorrow! I desperately want a new hybrid, but I've been waiting for my baddies to age to 2 years and my SL situation to get fixed. All should be well in November/December. And at that time, I'll have almost 50% downpayment on a brand new Toyota. The waiting is brutal, but I know it will all pay off in the end.

 

Congrats again!!!

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

Re: How many of us finish rehab in September?

It does feel good, but I have one last straggling Perkins loan that is in rehab until January. So when I log into the NSLDS, I still have one little angry exclamation point-triangle staring at me. But four of the five are in good shape, so that's good news.

And yay for you being so proactive about your car - there are lots of people who aren't as strategic about that decision. I figured Step 1 was the student loans, Step 2 is attack my baddies and garden some positive tradelines, and last but not least hopefully look into buying a house by Spring 2015 at the latest. I bought a used car from a family member, and it's hopefully going to last me until 2016 or thereabouts.

 

Fingers crossed that neither of us run into the Student Loans mis-reporting issues you sometimes see on this very forum....




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