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Rehab Complete: Original credit not coming off

Contributor

Rehab Complete: Original credit not coming off

I have disputed nelnet many times, they are the original creditor and are rufusing to remove from my report. I have rehabbed and now show open, never late on rehabbed loans. I have called nelnet and they refuse to fix.

 

How do i get them removed?

Message 1 of 5
4 REPLIES
New Contributor

Re: Rehab Complete: Original credit not coming off

Are you trying to get the lates removed? Because they don't come off. The lates up until you started the rehab stay. I rehab'd like you and the loans are now with NelNet. Essentially the lates in question aren't owned by nelnet in my case. Nelnet bought the loan after rehab from fedloan. Fedloan won't remove mine because they didn't get any money until the rehab started if that makes any sense. The only thing rehab ensures is that the derogatory mark of "Default" is removed from your reports. Everything else is at the whim of the loan servicers. If anyone knows otherwise feel free to advise. You would be helping TC and myself a ton. From what I have researched there isn't anything you can do if you are trying to get your old lates removed.



EX08 749 EQ08 735 TU08 746 Total Credit Line: $49,100Utilization: 8%Inquiries: EQ2 EX2 TU2
Message 2 of 5
New Member

Re: Rehab Complete: Original credit not coming off

I just started rehab. They told me that once rehab is complete. All lates will removed and accounts will state paid as agreement as if they were never late. 

Message 3 of 5
Valued Contributor

Re: Rehab Complete: Original credit not coming off


Mrfli wrote:

I just started rehab. They told me that once rehab is complete. All lates will removed and accounts will state paid as agreement as if they were never late. 


I thought that is what they said, too, but it's not. They remove *current* derogatories and remove collection accounts if the loans were defaulted.


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 4 of 5
Valued Contributor

Re: Rehab Complete: Original credit not coming off

"In addition, national consumer reporting agencies (credit bureaus) will be instructed to remove the record of the default from your credit history for the rehabilitated loan. However, late payments reported before the loan defaulted will not be removed from your credit history."

 

https://studentaid.ed.gov/sa/repay-loans/default/get-out#loan-rehab


EX08 659 EQ08 660 TU08 695 Starting: mid 300'sGoal: 700
Message 5 of 5