Student Loans

[franklyscarlet]

So I have 7 different entries(for each semester) on all 3 bureaus. I have since consolidated and I was wondering if they would ever remove those entries if I asked them kindly. 1 is Sallie Mae(ive read that they prob wont) and the others are GSFC(Georgia Student Finance). Would it be better to call? What type of letter should I send if that is what's suggested? tips/suggestions? Thanks

Oh hi im a n00b from creditboards

[IOBA]

I would keep them on your credit report!   Check to make sure they are reporting a zero balance, and paid as agreed comment.

I will be sad when my old student loans falls off.  I am hoping it takes them many, many years...

[franklyscarlet]

thanks for the quick reply. whats the point of keeping them on the report? i think it makes me anxious having so many entries(one for each semester!).

[Jazzzy]

If they report positively and you handled the loans well, this is positive credit history. These loans should report for you for 10 years after the final transaction/closure.

I consolidated and still have probably a dozen old loans reporting. They are aging nicely. Like the poster above, I don't look forward to the day they all fall off.

Bottom line....if they are positive, the reporting is helping you. Not hurting you. It's OK.

[franklyscarlet]

Crap. The Sallie Mae is reporting as "Paid was past due 180 days or more" and the Nelnet/Dept of Edu/GSFC" as "Paid was past due 90 days or more". They all became current starting Oct 2012 what do i do?

Here's an example of the Sallie Mae:

[IOBA]

It is very unlikely that they (SM) will take off the old loans.   The "lates" will have less impact as each month goes by.  After seven years, the "lates" won't show at all.

It is "wrong" to expect the lates to be removed because you consolidated the loans.  The lates happened.  They will affect your credit score today and tomorrow.  As each month passes,  the effect will be a little less.

Instead of them reporting for 10 years, you can ask them to be removed between the 5-7 year mark.  The CB might do that.