03-14-2013 12:20 PM
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!!!!!!!
03-14-2013 12:31 PM
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?
03-14-2013 01:05 PM
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!?
03-15-2013 08:42 AM
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.
03-15-2013 12:02 PM
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!!!
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