Rehabilitation: Student Loan Reporting Problem

[Anonymous]

@SJMick, that's the problem I'm having at the moment as well. Experian updated their records as "Unknown" via transfer to another office. TU and EQ still show the current payment status as negative (120+ days late). I realize that rehabilitation doesn't remove the late payments from the history, but at the very least, the current payment status should be updated to reflect a non-negative status. 

I will be disputing these old loans with TU and EQ once two other disputes are complete (creditor agreed to PFD on one utility account) and an old First Premier account that was paid is still reporting as a straight charge-off even though I reached a settlement with them.  

[beutiful5678]

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@Anonymous wrote:

I completed rehab in Feb 2018, about a month later my credit scores jumped as the accounts changed from delinquent to current. Then They were transferred to NelNet as the new servicer. Now on my report is has all of my student loan accounts listed twice, both as current/good standing AND closed/delinquent which is dragging my scores back down. Is this correct? It just updated that way on my report this week. Should I call NelNet, dispute through credit bureau or wait to see if it corrects itself?

I believe each account should be listed twice (as the accounts were transferred to a new servicer), however, the delinquent status should be removed but the late payments will remain.

[Anonymous]

Nelnet just took over servicing for my student loans (that have been being paid on time, every time since 2003) and they too are being reported by my old servicing company and Nelnet. It may just take a month or two to update accurately. As for mine, I contacted the prior servicing company and they are working with their liaison at Nelnet to sort it out. Fortunately I’m not making any large purchases, shopping for a mortgage, car, or anything else at the moment and my scores should rebound quickly. I wonder if it’s a Nelnet issue?

[beutiful5678]

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@Anonymous wrote:
Nelnet just took over servicing for my student loans (that have been being paid on time, every time since 2003) and they too are being reported by my old servicing company and Nelnet. It may just take a month or two to update accurately. As for mine, I contacted the prior servicing company and they are working with their liaison at Nelnet to sort it out. Fortunately I’m not making any large purchases, shopping for a mortgage, car, or anything else at the moment and my scores should rebound quickly. I wonder if it’s a Nelnet issue?

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I'm curious - did they backdate the opening date of the accounts when they listed the loans under Nelnet? All of the loan servicers did this for my Stafford loans except when I consolidated them. If they backdated them this should do great things for your report because (depending on how many loans you have) it will make the AAoA calculation more impervious to the effect of opening new accounts.

[Anonymous]

They did backdate them to September 2003, and as a matter of fact, they show 2 accounts both with the same 2003 date whereas my prior servicing company had them combined as 1 Account. The total amount of the loan(s) is unchanged as is my payment. So the old account should continue to report once zeroed out, as well as the 2 “new” backdated ones both currently at 45% of their original balance. Inthe end all will be well!