Reply
New Member
Posts: 3
Registered: ‎11-24-2012
0

Remove old student loans after consolidating

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 :womanvery-happy:

Valued Contributor
Posts: 2,698
Registered: ‎08-13-2009
0

Re: Remove old student loans after consolidating

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...

New Member
Posts: 3
Registered: ‎11-24-2012
0

Re: Remove old student loans after consolidating

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!).

Valued Contributor
Posts: 2,681
Registered: ‎07-29-2009
0

Re: Remove old student loans after consolidating

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.

New Member
Posts: 3
Registered: ‎11-24-2012
0

Re: Remove old student loans after consolidating

[ Edited ]

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:

 

 

Valued Contributor
Posts: 2,698
Registered: ‎08-13-2009
0

Re: Remove old student loans after consolidating

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.

Get a myFICO recommended credit card

Copyright ©2001-2013 Fair Isaac Corporation.
All rights reserved.

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). 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.