Reply
Frequent Contributor
pineappledaydreams
Posts: 257
Registered: ‎04-03-2012

Rehab

Possible to rehab on late SL. I have a late from a year ago.
On my phone apologies for the errors.



Starting Score: 501 EX FAKO
Current Score: 745TU Fico
Current Score:714EQ Fico
Current Score: 742 fico


Take the FICO Fitness Challenge
Community Leader<br> Established Contributor</br>
Community Leader
Established Contributor
SCF
Posts: 942
Registered: ‎06-09-2008

Re: Rehab

Is this a federal loan?  Only federal loans can be rehabilitated.

 

Is the loan in default? (Has it been assigned to a collections agency?)  Only defaulted loans are eligible for rehab.

 

If you only have a single late, your only option is to request a goodwill adjustment of your credit report from the lender.  If you read some threads here, you can learn about other people's experiences and the tactics they used.  Results are mixed, but with persistence, it does sometimes work.  You should also note that a single 30-day late from a year ago is already losing its sting on your score.  If you keep paying all your accounts on time, it will really only have a minimal impact after another year or so.


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
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+