As far as your CRs updating it's definitely a YMMV kind of thing. I'm 1.5 months out of rehab, have a new servicer reporting, and the DoE defaults and balance are still reporting. I filed a dispute but that takes 30 days.
Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden
@kjel wrote:
As far as your CRs updating it's definitely a YMMV kind of thing. I'm 1.5 months out of rehab, have a new servicer reporting, and the DoE defaults and balance are still reporting. I filed a dispute but that takes 30 days.
It seems the DOE is not one to report in a timely or accurate fashion. when my loans were transferred (not after rehab, was never late), the transfer was reported but not the $0 balance. My $21K in loans appeared as $42K because the balances were being reported by DOE and the new servicer. My advice is monitor your report(s) closely, and immediately dispute anything that is not accurate.
The dispute has been successful for EQ & EX and both have deleted the collection account TLs. 39 point bump!
@PresidentPatton wrote:Kjel,
This is awesome news! I have heard that disputing is a good way of getting them to remove after you get through rehab as the DOE won't respond to the dispute request. If you don't mind my asking how long after making your 9th payment did you put the dispute in? How did you put your dispute in? And how long did it take for you to find out that these were removed?
I was out of rehab mid March and picked up by Nelnet almost immediately and they started reporting in April. Based on my credit monitoring with Experian it looked like the closing date for my DoE TLs was the end of the month. It didn't update first couple days in April or May. Since Nelnet was reporting AND the DoE collections account TLs were reporting it looked like my student loan debts was double what it actually was. Ouch.
So I figured why not dispute the collections TLs since rehab was complete and I did receive a letter from DoE saying so and that the default should be removed, etc. I disputed directly through Experian and Equifax, both disputes came back with "negative items deleted" as an action. Because I have daily pulls on Experian I verified that the TLs were deleted. I checked on Equifax for the resolution and it looked like the report did update there as well. It was less than 2 weeks for both of them.
TU is always the odd man out and reports things way differently. I could not figure out what was happening there with the DoE TLs so I decided to dispute 3 of them on Monday. Still waiting on that one to come back.