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Valued Member
LilyWallace
Posts: 49
Registered: ‎03-23-2013
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Sallie Mae not removing 2 year old + late reports on EQ, but did on TU

I have several loans with Sallie Mae and another lender. I have lates showing on my CR, SM lates are from Jan/Feb 2011 and the other lender was from Feb 2011, so they are all well past the two year fall off mark. They fell off of TU on April 5 and my scored jumped 50 points :smileysurprised: I was thinking on April 4th, tomorrow (5th) I'm going to call to address it, then the next day (5th) when I pulled up my CR to have my ammo ready, the lates were all removed. The lates are all showing on EQ, I'm not sure about EX. It is lowering my score significantly as there are quite a few showing 90+ late. Do I need to call Sallie Mae or will these fall off as well? If I need to contact them to make this happen, does anyone have a good number to call or the department I should email/write to?

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SCF
Posts: 1,095
Registered: ‎06-09-2008
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Re: Sallie Mae not removing 2 year old + late reports on EQ, but did on TU

Negative information remains on your report for 7 to 7.5 years, it does not fall off after two years.  The impact of any late, but especially a 30-day, will decrease substantially after two years, but the information can still appear on your report for another 5 years after that point.

 

Lates from 2011 should still be on your report.  I'm not sure why they are no longer appearing on your TU report, did you contact the lender about a goodwill adjustment perhaps and you're starting to see them take action on that?

Valued Member
LilyWallace
Posts: 49
Registered: ‎03-23-2013
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Re: Sallie Mae not removing 2 year old + late reports on EQ, but did on TU

[ Edited ]

SCF wrote:

Negative information remains on your report for 7 to 7.5 years, it does not fall off after two years.  The impact of any late, but especially a 30-day, will decrease substantially after two years, but the information can still appear on your report for another 5 years after that point.

 

Lates from 2011 should still be on your report.  I'm not sure why they are no longer appearing on your TU report, did you contact the lender about a goodwill adjustment perhaps and you're starting to see them take action on that?


I have not had any communications with them about this issue at all.
On the TU site on April 4 it was showing Feb2011-Mar2013 and all of the current payments were showing a little green box that said OK. All the lates had a red box with a 90. As of April 5, it had updated so Mar 2011-Apr2013 was showing and my score had jumped 50 points. Are they hidden somewhere else on my CR? I'm pretty sure I looked through it thoroughly. So it is looking like I will have to pursue a goodwill adjustment to get the lates removed from EQ and EX.

I'm probably thinking of INQ falling off after two years.

Established Contributor
InvincibleSummer3
Posts: 640
Registered: ‎11-20-2012
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Re: Sallie Mae not removing 2 year old + late reports on EQ, but did on TU

The lates might not show in the windows, if the windows only show two year payment history, but they will still count in the calculation. As they age, they become less and less damaging, though.

I would pursue a GW.

Valued Member
LilyWallace
Posts: 49
Registered: ‎03-23-2013
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Re: Sallie Mae not removing 2 year old + late reports on EQ, but did on TU


InvincibleSummer3 wrote:

The lates might not show in the windows, if the windows only show two year payment history, but they will still count in the calculation. As they age, they become less and less damaging, though.

I would pursue a GW.


I was wondering about that, but when I clicked on details, it showed what I said above. So what about my score jumping up 50 points?
Everything about credit reports and regulations, laws, SOL is so confusing and variable. I wish there was a more uniform and forgiving (with things like lates) score and report system.

Do you happen to know who I would contact, aside from just calling CS to start the GW process?

Established Contributor
InvincibleSummer3
Posts: 640
Registered: ‎11-20-2012
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Re: Sallie Mae not removing 2 year old + late reports on EQ, but did on TU

Maybe do a quick search on these forums - lots of people have tried GWing SM. You might be able to find someone who's had a recent success.


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