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

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

I finished my student loan rehabilitation on 8/3/2017 with PHEAA.  How soon should I expect to seen a change on my credit report?  

Message 81 of 84
Regular Contributor

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


Tahirahr25 wrote:

I finished my student loan rehabilitation on 8/3/2017 with PHEAA.  How soon should I expect to seen a change on my credit report?  


There's no set timeline, unfortunately. 

 

1) The servicer for your defaulted loan should delete the default notation pretty quickly. Looks like it takes from 1-3 weeks if you look around at what people on here have said recently. But it really depends on the servicer, and they all do things at different speeds. 

 

2) The servicer that picks up your loan will usually get that new tradeline added to the reports pretty quickly. Again, looking around here, that process is taking from 1-3 weeks right now.

 

Again, that's just from what I've seen people on here say recently, so no guarantees, of course. Back when I completed rehab, it took a little more than a month for all of the credit report changes to happen. 

 

Good luck. You're almost there. 

TU FICO: 778 ||| EQ FICO: 784 ||| EX FICO '08 : 780
Message 82 of 84
Contributor

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

I love this forum!  As I look to clean up some credit issues this year, I have found a lot of value in reading other folks experiences!

 

9/2 will be my last payment in the Federal Student Loan Rehabilitation Program!  Whee!  In fact, my "normal" due date is the 24th of every month but I am trying to be proactive in getting the loans rehabilitated and " status updated".  I am in the process of buying a house and getting this item cleared up is one of the hurdles.  

 

From what I am reading, it looks like folks are experiencing 2-3 weeks for the new servicer to convert the loan?  Can anyone suggest any ways for me to "help" that process along?  My (bad) irish luck would be that it would look more like 6-8 weeks lol

 

I am still relatively unclear on what the outcome looks like regarding reporting...? Ultimately the loans will no longer be listed in default, and I realize that, but I am reading that folks have had all of their late payments removed?  Is that typical?  Again, my (bad) Irish luck would be that they wouldn't be removed.  However, I have evidence of 9 monthly payments that SHOULD NOT be reported as unpaid, and I can fight those months if worst comes to worst.

 

 

My FICO Scores:
9/17: EQ - 542 / TU - 535 / EX - 506 // Mortgage: 553, 545, 486
10/ 17: EQ - 558 / TU - 563 / EX - 586 // Mortgage: 554, 568, 536
11/17: EQ - 630 / TU - 589 / EX - 614 // Mortgage: 606, 606, 572
12/17: EQ - 630 / TU - 624 / EX - 619 // Mortgage: 584, 612, 671





Journey Milestones: Completed Federal Student Loan Rehab in Sept 2017. Settled First Premier Bank CC in August 2017. Constant uphill battle with Navient incorrect reporting on seven (7!) private student loans. No TLs listed in delinquency. Obsessively keeping 2 CC UTI @ 7-9% monthly.

End Goal: Pre-Approval for FHA Spring/Summer 2018
Message 83 of 84
Contributor

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

Well, my Irish luck has struck again (heavy sarcasm here).  A lot of this rant is cathartic more than anything, but if anyone has any advice please share!

 

I made my final 9th consecutive payment to Immediate Credit Recovery just last week.  I was curious to the "what next" including when the US Department of Education would be updating my credit report.  I called ICR and they told me to contact US ED directly.  So I called them & they informed me that I had NOT completed my rehabiliation program.  That the paperwork from ICR had me signing to agree to 9 payments of $275 not the $251 I had been paying (and the $251 was the SAME amount on my statements each month from the US Department of Education).  

 

I believe what happened was the initial intake paperwork and preliminary monthly payment of $275 was sent to the US Department of Education but not the UPDATED paperwork with the actual payment after they examined my financials.  I truly believe that is what happened.  I truly believe someone at ICR didn't submit the updated paperwork.

 

So the US Department of Education will not progress my account until the paperwork is accurate.  ICR is telling me they cannot generate a new letter.  I'm stuck.

My FICO Scores:
9/17: EQ - 542 / TU - 535 / EX - 506 // Mortgage: 553, 545, 486
10/ 17: EQ - 558 / TU - 563 / EX - 586 // Mortgage: 554, 568, 536
11/17: EQ - 630 / TU - 589 / EX - 614 // Mortgage: 606, 606, 572
12/17: EQ - 630 / TU - 624 / EX - 619 // Mortgage: 584, 612, 671





Journey Milestones: Completed Federal Student Loan Rehab in Sept 2017. Settled First Premier Bank CC in August 2017. Constant uphill battle with Navient incorrect reporting on seven (7!) private student loans. No TLs listed in delinquency. Obsessively keeping 2 CC UTI @ 7-9% monthly.

End Goal: Pre-Approval for FHA Spring/Summer 2018
Message 84 of 84