Reply
New Visitor
Posts: 2
Registered: ‎03-14-2013
0

Rehabbed FEDLOAN still showing Current Status 120+ days late!! Will not cooperate

On my 'MyFico" equifax report pulled last month, 2013, Fedloan is still showing Current Status as: 120+ days past due.

The Fedloan loan moved to US Dept of Ed back in 2011, I rehabbed them with that Dept and they are now with Nelnet and we are current and have been.

Fedloan has told me over and over they will not update status of a loan, nor report on a loan that is no longer with them. 

Even the Dept of Ed sent me a letter to forward on to the CRA's requesting removal of that loan or status to show no longer with Fedloan.  Fedloan also issued me

a letter by fax stating basically the same.  I send a mail package to all three CRA's with those letters amongst other things early last month.  All bureaus have responded and awaiting letters in mail concerning them.  Equifax today tho, told me that the disputed Fedloan still shows on my credit report unchanged.  I don't know if they changed the 'Current Status' field yet or not from the '120+ days past due'.  If they did not end up changing the status, what the crap do I do?  Can the Consumer Financial Protection Bureau help me with this?

As far as the credit bureaus see, I still have a student loan with Fedloan showing Current Status of 120+ days past due (a status from back in 2011!!!!!)

HELP!!!!  I can't buy a house because of this main item holding me back from getting above the 640 I need for the mortgage!!!!!!! 

New Contributor
Posts: 55
Registered: ‎02-27-2013
0

Re: Rehabbed FEDLOAN still showing Current Status 120+ days late!! Will not cooperate

Let me understand if I got it right.  You said that the OC was FedLoan, right? Which means that you defaulted your loans with them and later completed your Rehab w/ DOE.  Now the DOE has removed all marks from cra's but FedLoan it still remains? 


Starting Score:EX-639, TU-632 641-EQ(MyFico)
Current Score:EX-737(PLUS), TU-784(MyFico)750 (Walmrt) 719-EQ(Myfico),
Goal Score: 750-Across


Take the myFICO Fitness Challenge

New Visitor
Posts: 2
Registered: ‎03-14-2013
0

Re: Rehabbed FEDLOAN still showing Current Status 120+ days late!! Will not cooperate

Thanks for responding; yes, I rehabbed the former Fedloan loan thru the Dept of Ed and Dept of Ed placed the loan now with Nelnet to whom I'm current.  So originally I defaulted my Fedloan back in 2011; it got transferred to Dept of Ed with whom I rehabbed the loan (making 9 consecutive payments as you know), and then it got placed now with nelnet last year and I'm current.

So currently my Equifax report shows the following two account history items as of last month:

 

Dpednelnet (meaning Dept of Ed/Nelnet rehabbed loan) - current status - 'Pays account as agreed'

Fedloan - current status - 120+ days past due

 

So as far as Equifax sees, I have two different loans and one of them is still 120+ days past due!!!! AGH!  I only have the one same loan but it is now with Nelnet and is current!!  Fedloan is telling me today that they can't update the bureaus on a loan that has since moved on from them and they no longer service, then who can!?

 

Frequent Contributor
Posts: 252
Registered: ‎02-21-2013
0

Re: Rehabbed FEDLOAN still showing Current Status 120+ days late!! Will not cooperate

That's so strange, I'm currently in the rehab process myself, and my understanding was that the whole point was to remove those things from your credit report as a "once-in-a-lifetime" type thing... 

But I do know some places wont remove the history, but they'll update the status to be "current" or "paid as agreed" or something... so you're saying instead of making the loans current through the rehab deal, it still says "120+ past due?" 

Because in some cases, it will make the loan current (no longer in default) but the negative payment history can still remain. 

Contributor
Posts: 78
Registered: ‎01-18-2013
0

Re: Rehabbed FEDLOAN still showing Current Status 120+ days late!! Will not cooperate

I have heard a lot of success on here from people who are disputing these lines through the Credit Bureau and having them drop off as they should after rehab is complete. I should finish my rehab program up the first week of June and plan on disputing them within 2 weeks. I am trying to get a home ASAP so I really need them gone! Good Luck!!!

PresP
2/6/15: Credit Karma: 626
4/23/13: TU 615, EX 600, EQ 581
1/16/13: TU 585, EX 525, EQ 514
Goal: Purchase Second Home ASAP

Cards: Cap1 Secured - $300; Authorized User on Chase Card: $5500.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.