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Valued Member
SusieQ
Posts: 34
Registered: ‎06-22-2008

SallieMae - late payments

I had a student loan from Sallie Mae that I stopped paying in October 2010 when my husband lost job.   I went into rehab program in 2011 and then after completing rehab it was sold to AES.

 

Sallie Mae has now marked loan status as Current, with a balance of $0, but the followng lates still show and credit reports (except Equifax which wiped credit history) show account as a derogatory item.   Bottom line, I have ten late payments on this account.   Question, when does this fall off?   First late (12/2009) or will they fall off one by one until 09/2017 which seems a bit unfair.

 

OKOK90120120120120120120120120120
10/1011/0912/0901/1002/1003/1004/1005/1006/1007/1008/1009/10

 

 

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Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

Re: SallieMae - late payments

They'll fall off one at a time as they age. Whether or not it's fair, it's certainly accurate.

 

You could try to GW the lates off. They're not obligated to do that, but if you ask, nicely, they might say yes.



Community Leader
Senior Contributor
laz98
Posts: 4,275
Registered: ‎09-06-2008

Re: SallieMae - late payments


InvincibleSummer2 wrote:

They'll fall off one at a time as they age. Whether or not it's fair, it's certainly accurate.

 

You could try to GW the lates off. They're not obligated to do that, but if you ask, nicely, they might say yes.


Great post.  Definitely doesn't hurt to ask for a goodwill adjustment, as suggested.  Otherwise, be prepared to wait the late payments out.

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Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: SallieMae - late payments

i did my remove  30 days late .....be honest with them and sent to Advocate Senior something.........i got them all clean up after 2 weeks contact.....


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Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012

Re: SallieMae - late payments

If these were federal loans just serviced through Sallie Mae and you did a full rehab and they were picked back up by another servicer then part of the contract you recieved was for them to completly remove all negative data....Basically they would remove anything except for the origionation date, the date it was paid off (i.e. the date it picked up by another servicer) and a $0 balance. They shouldn't be showing any negative info at all....

 

If this was a private loan then those rules do not apply.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Valued Member
SusieQ
Posts: 34
Registered: ‎06-22-2008

Re: SallieMae - late payments

they were federal loans.  I will contact consumer advocate (got info from another post) and beg them to remove.

08/19/12 FAKO Scores - TU 560 EQ 545 EX 545
03/24/13 FAKO Scores - TU 669 EQ 598 EX 689

Current MYFICO Scores - TU 706 EQ 649
--------------------------------------------------------------------------------
2013 Goal...700 Club
Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: SallieMae - late payments

Good luck SusieSusie


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k

Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012

Re: SallieMae - late payments

you shouldn't HAVE to beg them to remove.

 

They should have been removed per you completeing the rehab of a student loan program. When they contacted you and set up the rehab they should have said it then that the info would be removed. I would contact whomever did the serviceing of the rehab and ask them why it wasn't removed. Sallie Mae wouldn't be the one that removes it but rather the ones that handle the rehab (I think).



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three
Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012

Re: SallieMae - late payments

Certainly I don't mean to nitpick, but where are you getting that all the lates are to be removed? Every federal student loan site I've seen says that "the default staus is removed", but there is nothing that says that all the lates leading up to the default will automatically come off as well.

There are stories of specific lenders making the call to remove the lates, but there's no federal rule that says that they have to. YMMV, depending on your lender.



Frequent Contributor
scarrollprint
Posts: 382
Registered: ‎06-26-2012

Re: SallieMae - late payments

All the paper work I received when I rehabbed both mine and my wifes said that since they were rehabbed federal loans all negative info was to be removed.

 

I was under the impression this was the case for all...Mine were through Direct loans and hers were through Sallie Mae. Her negative info was removed as well as mine. I thought that was the case for all Federal student loans and not a case by case situation from what they told us and from what we heard from others.



Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three

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