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!
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.
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
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.