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

New Member

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

I just finished loan rehabilitation with GC Services on 1/31/2016.

 

On 2/4/2016 I was told that all my loans are now with the Dept. of Ed. I initiated disputes with Equifax and Transunion on the same date (2/4/16) asking them to verify all the information on my CR and in a separate dialog box in the online dispute I said something along the lines of "I completed my loan rehabilitation and all negative marks relating to my student loans should re removed." I did this for each TL. I had to call into Experian and do the same thing since the online dispute form did not work for me. The Experian rep I spoke with was very helpful.

 

Judging by manimcool's postings, I'm hoping that the negative marks will be removed by 2/11/16. Fingers crossed! The standard response from the 3 bureaus is that they will complete the dispute by 3/4/16. 

 

 

UPDATE: It has been about a week since I put in my dispute with the 3 bureaus. No changes yet. 

Message 31 of 84
New Contributor

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

 
Message 32 of 84
New Contributor

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

^^ I am doing the same exact thing. My expected date is 3/9/16. Transunion seems to move a little bit quicker. Only 1 account was reporting with them when I actually have 2! With Equifax, the 2 accounts show 6 different times! Ugh!! So I'm hoping the removal of the negative accounts will not drop my score too much because my AAoA will drop...but if they do, they should recover after the new loan lender puts them back on my credit.
Message 33 of 84
New Member

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

ORIGINAL POST: I just finished loan rehabilitation with GC Services on 1/31/2016.

 

On 2/4/2016 I was told that all my loans are now with the Dept. of Ed. I initiated disputes with Equifax and Transunion on the same date (2/4/16) asking them to verify all the information on my CR and in a separate dialog box in the online dispute I said something along the lines of "I completed my loan rehabilitation and all negative marks relating to my student loans should be removed." I did this for each TL. I had to call into Experian and do the same thing since the online dispute form did not work for me. The Experian rep I spoke with was very helpful.

 

Judging by manimcool's postings, I'm hoping that the negative marks will be removed by 2/11/16. Fingers crossed! The standard response from the 3 bureaus is that they will complete the dispute by 3/4/16. 

 

 

UPDATE 2/11/16: It has been about a week since I put in my dispute with the 3 bureaus. No changes yet. 

 

UPDATE 2/24/16: No changes on my credit reports yet. TU has completed 1 dispute, but I don't know what it is. TU says completion date is now 3/5/16. EQ has changed its status to "PENDING," and again I really don't know what, if anything, has been done. Completion date is still 3/4/16. I did EX over the phone and have not called in to check status, but no changes on my report anyway.  

Message 34 of 84
New Contributor

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

Any updates?

Message 35 of 84
Established Contributor

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

Outstanding stories, thanks for sharing. Now that I've found a thread with pertinent information, can y'all have a look at my thread and help me out?

http://ficoforums.myfico.com/t5/Student-Loans/Loan-Rehabilitation-and-FHA-loan/td-p/4481696

I don't know who to contact to get the ball rolling. It's time to check into rehab so we can get an FHA loan.

Please and thank you.

myFICO
FICO 8: EQ 663 | TU 657 | EX 663 (8/17)
Trifecta: EQ 667 | TU 632 | EX 664 (8/9)
Message 36 of 84
New Member

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

ORIGINAL POST: I just finished loan rehabilitation with GC Services on 1/31/2016.

 

On 2/4/2016 I was told that all my loans are now with the Dept. of Ed. I initiated disputes with Equifax and Transunion on the same date (2/4/16) asking them to verify all the information on my CR and in a separate dialog box in the online dispute I said something along the lines of "I completed my loan rehabilitation and all negative marks relating to my student loans should be removed." I did this for each TL. I had to call into Experian and do the same thing since the online dispute form did not work for me. The Experian rep I spoke with was very helpful.

 

Judging by manimcool's postings, I'm hoping that the negative marks will be removed by 2/11/16. Fingers crossed! The standard response from the 3 bureaus is that they will complete the dispute by 3/4/16. 

 

 

UPDATE 2/11/16: It has been about a week since I put in my dispute with the 3 bureaus. No changes yet. 

 

UPDATE 2/24/16: No changes on my credit reports yet. TU has completed 1 dispute, but I don't know what it is. TU says completion date is now 3/5/16. EQ has changed its status to "PENDING," and again I really don't know what, if anything, has been done. Completion date is still 3/4/16. I did EX over the phone and have not called in to check status, but no changes on my report anyway.  

 

UPDATE 3/5/16: My credit scores jumped about 100+ points across the board (now 700+ for all 3 CRAs). Most of my old student loan information was removed. My late payment history from FedLoan Servicing WAS NOT removed. Dept. of Ed accounts were removed. My age of accounts lost 1 year. My CRs now show my new loan servicer Great Lakes. I am going to work with an obudsman to see if I have any other recourse with FedLoan Servicing other than waiting it out for the next 4-5 years when those marks will age off. 

 

This will probably be my last post in this thread. Good luck to everyone, and I hope my posts were useful!

Message 37 of 84
New Member

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

I finished rehabilitation on my student loans, the loans have been completely removed from all three credit reports.
FEDLOAN has picked up the new loan and I have made my first payment.
My question is this:
The new FEDLOAN account has not shown up on my credit reports yet.
Once it does, does anyone have any experience as to what the expected score jump might be?
Message 38 of 84
Regular Contributor

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

I absolutely love this topic!  I've been reading it since July 2015 after researching the topic through google.  Here is what I did after reading all of your posts.  There are a few twists to my story but everything seems to be working out (remaining optimistic and keeping the faith).  Hoping to get advice from all who have successfully completed this process as to what I should do next since my situation has a little twist too it.

 

 

7/15  Contacted US DEPT of ED to find out what CA had my loans.  

 

7/15  Made initial payment and was told payment was significantly reduced due to income.  Thank you.  I didn't know how I was going to do it but I'm determined.

 

3/16  Made the 9th payment wondering when I would receive correspondence.

 

4/16  Made a 10th payment and still no correspondence.  However, got bold and thought I would try to have the baddies removed using some of the guidelines found here.

 

5/16  Disputes didn't work.  Not sure why but will try again.  Decided to let thinks catch up so I didn't make another payment, just waited for correspondence from new loan servicer.

 

6/8/16   Now I'm nervous so I call the CA to check the status of rehab.  WHOA they tell me that I DID NOT complete the rehab as instructed.  Believe it or not, the rep who sets up my rehab tells me that my payments are only $10.  I make payments of $50 thru 12/15.  By 1/16 I have no job so I drop the payments to $20 (still paying more than $10) thinking I'm in the clear.  Well the new CA that took over the old CA states I was suppose to make payments of $15.  WHAT?  That's not what I was told.  

 

6/8/16   Depressed, I go to myeddebt and file a complaint through Default Resolution.

 

6/9/16   Whoohooo!  According to their records I completed rehab as agreed.

 

6/21/16  Called CA to get an update of their records.  They state that as of 6/20, the loans were sent back to US Dept of Ed.  Called US Dept of ED they said loans were assigned to FedLoans.  Called FedLoans and the account is still in the process of being setup so not sure of what the payments are yet.

 

QUESTIONS: 

 

1)  Do you think my attempt to remove the baddies were rejected in April because the loans were still active with the CA?

 

2)  According to the posts I've read here, the old loans will be automatically removed anyway.  That said, do I try to make a 2nd attempt to remove baddies with the 3 CBs or do I play the waiting game?

 

3)  I just opened a secured Cap One this month.  This is the only CC I have period.  I figured I am suppose to wait before trying to establish any additional credit.  Is this the right plan?  Currently the only other thing showing on my CRs are the bad student loans with the lates.  No judgements, no Repos.

 

4)  Is there a FREE alternative to get the FICO 8 scores or are they always purchased?  If I have to purchase them, what is the best method to do so?

 

Lastly, congrats to all who have come this far.  It is so inspirational to see what you've accomplished.  Growing up I had no parents and no one to teach me how to be fiscally responsible.  I've made lots of mistakes and I pray every day that God puts before me the right people, at the right time to help me choose the right path. 

 

CK:  6/16  TU 551; EQ 557; EX ?

GOAL 700s 

 

 

Message 39 of 84
Senior Contributor

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

I would try again now that you have official proof that you did complete rehab I would dispute the baddies bc otherwise it could take up to 60 days from what I been researching. Good luck and plz post updates , I'm rehabbing and omy have two payments left I'm so can't wait , this default us holding me back from everything and keeping my scores in the mid to upper 500 range .
Message 40 of 84