02-08-2012 12:40 AM - last edited on 02-08-2012 02:59 AM by MarineVietVet
I have worked for the United States Department of Education (DOE) for over a year as a default and rehabilitation specialist. I have seen an alarming amount of people in need of help or have questions that they would like answered. I am here to answer and questions or to help in any way that I can.
Edited to remove personal information. Private email addresses are not allowed to be posted. - MarineVietVet, myFICO moderator
02-08-2012 08:50 PM
I entered the rehab program in Feb 2011 and my loans were due for rehab in Sept 2011. Since the system is down, I have not completed rehab and I am still waiting for the DEPT of ED to take them back. How long is this going to take, I am applying for a home loan but I cannot qualify becuase of the 8 TL's that are still in default. What is the DOE going to do about this?
02-08-2012 09:04 PM
After completing the rehabilitation program the United States department of education deletes the R9 derogatory mark on your credit. This means it will show that it was never in collections with them. Sallie Mae putting negative marks on your credit is a different situation because you had an arrangement with them and when you defaulted the DOE took back over the loan to recover it. The DOE has most likely removed there mark and Sallies Mae has not. Get a copy of your credit report to see which one(s) are reporting as negative and the I can tell you who you need to talk to and what you can do.
02-08-2012 09:11 PM
@nascar....This is one of the most common problem I am dealing with on a daily basis. The DOE made a veryt big mistake when they were becoming more technologically advanced. They switched over from a legacy system to a titanium system. In doing so they had to move the millions of accounts from system to system, things got very screwed up. Now the problem is that all the payments made in the months that it took them to do that were not posting to accounts at that time. Now they have all accounts transfered and are getting the payment posted to each account. That is what has been your hold up because they dont know you finished the program yet. In my specualtion all account will have been updated with the payments in the next month to month and a half. My advise is to check with ED if your account has been updated with payments. Also you have regained elegibility for FHA loans, but I think you were speaking more in terms of the credit score not being where it needs to be for the loan for your house. Call the DOE or collection agency that has your loan and ask how many payments have posted. Let me know what they say and we will go from there.
The DOE knows they had a major screw up with the conversion from system to system. It went horribly wrong and they know that.
02-09-2012 01:18 PM
Ok great. Looks like Sallie Mae is reporting negative remarks still. Here is a copy/paste of my transunion:
|Aes/Suntrust Bank||XXXXXXXXXXXXX0002||9/2005||$36,845||Paid or paying as agreed||No||Details|
|Sallie Mae||XXXXXXXXXXX0012||9/2005||$0||Paid or paying as agreed||Details|
TLs 107F, 104F, 105F are acutally private loans that have since been settled in full and I am in the process of getting them removed (per my agreement with SM). 102F, 103F, and 106F are federal and were actually consolidated into 0012, so I believe that should be counting duplicate TLs, as those 3 accounts have been 1 since 2005. The AES loan is the rehabbed loan, in good standing, back dated to 2005
02-19-2012 08:59 PM
They will stil show neg because that was before the consolidation. The consolidation afterwards looks correct, as well as the rehab. Stay on top of the the arrangments youy have though and make sure they delete everything they were supposed to.
02-19-2012 09:40 PM - edited 02-19-2012 09:43 PM
should loans paid by income tax offset still show in default? shouldnt they be a paid collection instead?
I have Tenn guarenty corp report to my credit after it was paid by same offset. they were paid off all but 65.00 was paid off in 2-2010 the the last 65 was paid 2-2011 and just reported 1-2012 and to top it off they are only on 1 report not all.
AES is still all loans as claim filed. nelnet did not back date the loans that were rehabbed. is that correct?
02-19-2012 09:45 PM
In my assumption the whole loan has probably not been paid off if that is the case. Contact the DOE or call the student loan tracking number at 1-800-433-3243 and see if you have outstanding loans... then let me know what we are dealing with
02-19-2012 09:51 PM - edited 02-19-2012 09:59 PM
ok I just called the self service number
this is what I got from the nsld website
TN STUDENT ASSISTANCE
No Phone Provided
Mailing Address: 6420 SOUTHPOINT PKWY JACKSONVILLE, FL 32216More Account Details
|Account Name||TN STUDENT ASSISTANCE|
|Account Type||Education Loan|
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† 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.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
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.