Reply
Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
0

Re: Post rehab question


InvincibleSummer2 wrote:"you should anticipate a delay before this gets picked up again".

Thats an understatement....

 

I was supposed to come out of rehab in October of 2011(at the begining of the month). In the begining of sept 2011 I got a letter saying "its going to be a while, but we'll continue to do the autopayment and it will continue to apply to interest/principle as it is now.

 

October I got a letter saying "there was a glitch and it should be another month"

 

November I got a letter saying "there was another glitch and it should be another month"

 

December I got a letter saying "there was yet another glitch and it should be another month"

 

January I got a letter saying "yup...glitch"

 

February I got a letter saying "gitch" then I got a letter 2 weeks later saying "congrats you made all 9 payments!" in All actuality I made 14 rehab payments...

 



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012
0

Re: Post rehab question

Remind me who your original loans were with? I tried to skim through your past threads, but couldn't find it. I seem to think they were Direct Loans but not sure....I'm just curious. DOE swore up and down to whoever would listen that the computer issues that persisted through Spring '12 were completely solved. Now? I'm unconvinced.



Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
0

Re: Post rehab question

They were and still are serviced by Direct Loans.

 

My rehab ended and was all cleared up by spring of 12...so I guess they may be right. Either way it cost me quite a bit in interest since I had to wait a couple months to consolidate my higher rate into a lower fixed one..but oh well guess I really can't complain TOO much



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012
0

Re: Post rehab question

So, did you see a pretty decent score jump? My MMV, as I well know - and I'm not expecting life to automatically be all gummi bears and rainbows post-rehab.

But it would be nice to see a boost in the score based on not having all those defaulted loans....dare I hope for such a thing?



Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012
0

Re: Post rehab question

At the time I wasn't watching my scores so I don't know.

 

If they are you only baddies, it SHOULD because as long as they hold their end up of the bargin (remvoe them after you rehab) but also keep in mind though they might just remove all the data, close out the loan as Paid and then open a new one.

 

That happened to me on all 3 reports. TU they deleted all info and just basically left the life of the loan no payment data and showed PIF as agreed etc. and on EQ they changed all missed payments (even ones that didn't lead to deliquincy) to OK.

 

Either way I then technically opened up a new loan so my AAOA dropped considerably since those loans were all from 2002, 2003, 2004 and 2005 being the youngest and the new one was just opened in Feb (I consolidated as soon as I came out of rehab so that didn't really hurt anything).

 

granted they are all showing on my report as good standing loans, but they will be dropping off in the not so distnat future which won't help my age, but by then, my current loan will have aged.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}