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

Regular Contributor

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

**bleep**?!?!?!?! Are you serious?!?! When and how did you get 2.3%? Ugh.... Now I really feel stupid! I have $100,000 in student loans close to 7% and people are out there in the 2% range?!?!?!?! I should have consolidated and hoped for a lower rate than rehabilitation!

Message 71 of 84
Senior Contributor

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

I have had this one and only SL since 2001 us why the rate is so low on it . I paid on it for 3 years bare min payment then got divorced in 06 and had to stop paying but kept it in forbearance and then they changed servicers on me from Ed Financial to Direct loans then to Great Lakes all the time it was suposed to be in forbearance and when Great Lakes got in in 2013 I never knew anything diff until 9 mths passed and I started getting calls saying it was in default so there's that ..now I am actually gonna pay this stupid 15 year old headache off as fast as I can .
I am going to back to school in the spring but I WILL NOT BE GETTING ANY STUDENT LOANS !! That's for sure .. I'm wondering why are your rates so high? What kind of loans are they?
Message 72 of 84
Regular Contributor

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

I can see why they were that low. I heard people back in the yearly 2000's were getting rates like that. Investors were actually telling people to max out there loans and keep the money because the rates were even lower than mortgages. Telling people to never pay them off and use the interest as a tax deduction. But that definitely isn't the case nowadays. And mine are all government loans, here is how they are listed on the US Dept of Ed Site: FFEL Unsubsidized Stafford, Direct Subsidized Stafford, Direct Unsubsidized Stafford. I do have one loan at 4.8% and that's the lowest one. 

 

But I am definitely thinking of hiring a lawyer. I know this is my mess. I know the law states they aren't to remove the lates and that there is a fair reporting act. But I googled several Student Loan lawyers that say they only get paid if they can get the lates removed. Well, all of my loans were removed except for one on each bureau. So its worth it to me to pay a lawyer to remove the last account or correct it. I will save that on interest on a house. I disputed the accounts one last time, I have till the end of October to see what they say. If no result from this last dispute, then I am just going to pay a lawyer and then I will update everyone on how that went. 

Message 73 of 84
Senior Contributor

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

Well whatever you decided to do I sure hope you come out with a clean profile all across the board. I didn't know there were lawyers out there just for that purpose this is interesting I'll have to read up on it . Wonder how much it would cost to aquire one to get the lates removed ?
Message 74 of 84
Regular Contributor

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

Thank you, me too!

Oh... They are out there. I just googled "Student Loan Lawyer". None of them guarantee they can get the lates removed. Most refer to cleaning up "errors". Well, I already have a clean report except that one loan. So, basically, its they get rid of that one account or they get nothing. I know from previous experiences with lawyers, I've paid around $250 an hour. Their hours are calculated weird too. But even if I paid $2500 to $5000 to have it removed, it would be worth it. I have over 60 positive accounts dating back 16 years. No lates except one student loan account. Util ranges from less than 10% to never over 27%. But I can't get over 700 credit score. It stays around the 690's. So, if I can get that removed, I expect a big jump. I should be around the 800 range. 

Message 75 of 84
Senior Contributor

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

Well keep me updated on anything that you decide to do , I may need to know for future reference lol I don't feel so lucky about my lates coming off now .
Message 76 of 84
Regular Contributor

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

Will do! And after reading your post, it seems there are multiple people running into this. Lots of them mentioned that accounts fell off or were fixed but there was that one or two that were left. Some with just one or two lates. So ya, I dont think people are getting as lucky as they use to. :-(

Message 77 of 84
Valued Member

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

 
Message 78 of 84
New Visitor

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

Finished rehabilitation on 2/6/17 filed disputes with all 3 CB 2/24/17 loans were assigned to new servicer.. so waiting for all 3 CB to update... will post an update as soon as results come in.... good luck everyone
Message 79 of 84
Senior Contributor

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

Good luck to you Toni76, hope it all turns out in your favor !!
Message 80 of 84