Credit Card Center Advertiser Disclosure

Reply
New Contributor
Posts: 74
Registered: ‎01-24-2012
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

This is very helpful information I'm just starting the rehab process and will check back to update. I do have some credit cards and will be gardening as well. Thank you again.
New Contributor
Posts: 74
Registered: ‎01-24-2012
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

Awesome I'm just starting this process so I have a long way to go but I'm looking forward to getting this resolved
Established Member
Posts: 32
Registered: ‎02-16-2015
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

Thank you for posting all this! It is exactly what i came on to check on. I am in the exact position with all my loans just now being picked up after rehabbing by FedLoan and Nelnet! Very excited and hoping all gets removed as well so I can look into purchasing my first home for my move in a few months. Praying that I will finally be seen as a functional member of society now lol
05/15: EQ:641 EX:647 TU:548
Started: 04/14 530 CK
Goal: 750 across

Established Member
Posts: 32
Registered: ‎02-16-2015
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

 
05/15: EQ:641 EX:647 TU:548
Started: 04/14 530 CK
Goal: 750 across

Regular Contributor
Posts: 146
Registered: ‎10-31-2015
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

Any updates on this? Have you made your first payment and have the new accounts showed up on your CRs? Also if they did, are they showing up as a new account with a 0 AAoA or did they back date the account and increase your AAoA like some have reported? Thx!

Valued Contributor
Posts: 1,337
Registered: ‎09-14-2013

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

Under the rehabilitation program all negative marks are removed upon completing it. Me, my sister, and a friend I helped out have all been through the process and all negative marks were removed with the loans being backdated to show as a positive account since the date they were first opened. Mine was rehabilitated in 2013, Navient is my new servicer and on my report it shows a perfect account with open date in 2007. If you ask the rehabilitation department when you setup for the program they will tell you themselves that the negatives will be removed upon completion, not just the default status. Hope this helps Smiley Happy
DCU PLATINUM VISA- $5,000 / BARCLAYS APPLE REWARD VISA- $6,000 / CITI BB- $1,000 / CAP 1 QS1- $5,000 / CAP 1 PLATINUM- $500 / Commerce Bank Visa- $6000 / Dodge MasterCard- $10,000 / AMEX BCE $1,000 / Upromise $2,000 / Menards $1,000 / WalMart MC $3,800
Established Member
Posts: 16
Registered: ‎06-13-2014
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

No updates to report yet other than nothing has changed on my reports. I have made my 1st payment on time. I have a few days to go until my 2nd payment. All the bad student loan stuff remains completely deleted and doesn't even report at all. No new accounts reported either. 

Regular Contributor
Posts: 196
Registered: ‎03-04-2015

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

So if I am understanding what I read from this thread correctly, my rehabbed loans, well, the old defaulted - should be removed - not just moved to Closed accounts?

That is where I am seeing the loans I rehabbed and my new ones are under open - so A LOT of trade lines to only have 4 loans

Member
Posts: 31
Registered: ‎01-18-2016
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter

I would suggest consolidating. Your rehab loans are showing as individual loans right? Consolidate them and those loans will be paid in full.

By consolidating you can also take advantage of the Income Based Payment and also forgiveness after 240 payments have been made

I am a student loan consultant
Valued Contributor
Posts: 1,653
Registered: ‎06-09-2008
0 Kudos

Re: Just finished student loan Rehabilitation, need help with removing lates/possible GW letter


Jaden63 wrote:
I would suggest consolidating. Your rehab loans are showing as individual loans right? Consolidate them and those loans will be paid in full.

By consolidating you can also take advantage of the Income Based Payment and also forgiveness after 240 payments have been made

I am a student loan consultant

IBR is available to any student loan borrower in the reasonable past (I don't remember exactly when IBR was available, the 90s or early 2000s?).  Consolidation is not needed to take advantage of income-driven repayment for any borrower.  Some borrowers with non-Direct loans will need to consolidate if they want to use REPAYE (which is based on a lower percentage of your income and has some other differences), but its not really something everyone needs to worry about.

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.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* 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.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.