In student loan rehabilitation, but Current status is still 120+ days late

[Gotons]

I've been in my student loan rehab for 22 months on my 9 month agreement.  I'm unsure if TSAC (the guarantor) is reporting correctly.  Should they still be reporting as 120+ days late every month, even though I've made 22 consecutive payments?

[Anonymous]

Twenty-two months? Ouch. All those negative TLs from the guarantor will be completely wiped out once the loans have been rehab and picked up by a new lender. The OL's negative lates will remain there for 7 years. It's unfortunate that rehab hasn't completed for you yet, but there isn't much you can do. My rehab was complete in 9-months, but I think it depends on who the guarantor is and what state you are located in that determines available lenders to pick up your loans. Good luck!

Message Edited by jaystay on 03-09-2010 02:17 PM

Message Edited by jaystay on 03-09-2010 02:18 PM

[Gotons]

Thanks for the information.  Yeah, 22 months.

I understand that they will be wiped out, but should the guarantor still be reporting every month that I'm 120+ days late?  Even though I'm in rehab, this looks like they're just sitting there and I'm not doing anything about it.

[Anonymous]

I'm currently rehabbing a small Perkins Loan which only reports to EX and every month it's still marking it as derogatory. The university told me that once I'm done with rehab, they will take over the remaining balance of the loan and bill me quarterly plus all the negative remarks will be deleted and read as current unless I screw things up again.