Reply
Established Member
Posts: 20
Registered: ‎01-20-2014
0

Sallie Mae help!

I need help understanding something. I had a loan with Sallie Mae back in 2007 that was a consolidation from a previous loan. I defaulted on it in June of 2009 it was then passed on to another company which I have paid in full. The Sallie Mae account on my Cr shows as claim filed with government, closed. However in the payment history and account status it shows as a severe delinquent account of 120 plus days late. I called Sallie Mae and asked them to update the status to closed since the account is closed and they told me they can't update it because they don't have the loan any more. They said how it last reported after the default is how it will stay even if it's closed. How is this correct, or is this incorrect?
Regular Contributor
Posts: 213
Registered: ‎02-22-2013
0

Re: Sallie Mae help!

[ Edited ]

based on what you said, it sounds like they're reporting accurately, so it's up to them if they want to adjust it.

 

you might be able to get more done with a goodwill letter/email to an executive board member, but i wouldn't count on it.

 

something i do recommend trying is getting the "claim filed" comment removed.  they might be willing to do it if you show them the documentation that you completed rehab on the loan they sold.  can't hurt to try.  i was in the exact same situation with ACS, and they removed the "claim filed" comment at least.  good luck!

||| Amex BCE, $9000 ||| USAA Visa, $6000 ||| USAA Amex, $5000 ||| Cap1 Quicksilver, $4000 ||| Chase Freedom, $2000 ||| Discover It, $2000 ||| TU FICO: 738 ||| EQ FICO: 742 ||| EX FICO '08 : 742
Established Member
Posts: 20
Registered: ‎01-20-2014
0

Re: Sallie Mae help!

The problem I see is that it still shows as delinquent on 2 of the 3 bureaus. Experian shows it as claim filed with government, but the other two show as delinquent past 120 days. This is the only negative I have left that I am trying to get fixed.

Regular Contributor
Posts: 213
Registered: ‎02-22-2013
0

Re: Sallie Mae help!

[ Edited ]

"Claim filed with government" is as bad or worse than old delinquent payments.  The lates hurt less and less over time when it comes to credit score, but the comment about the claim being filed is a red flag for a lot of lenders to automatically say no.  

 

Also, completing rehab does not require any entity to remove delinquent payment reporting (such as 30/60/90/120/150/180 lates), but only the collection/default status. 

 

That was my main point.

 

You can hope that maybe you find somebody sympathetic to you who is nice enough to remove the lates, and I wish you luck in that.  

 

||| Amex BCE, $9000 ||| USAA Visa, $6000 ||| USAA Amex, $5000 ||| Cap1 Quicksilver, $4000 ||| Chase Freedom, $2000 ||| Discover It, $2000 ||| TU FICO: 738 ||| EQ FICO: 742 ||| EX FICO '08 : 742
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.