10-22-2012 09:42 AM
I had Direct Loans, and that was not at all on my paperwork. Which is apparently not unusual, but this from Myeddebt.com and studentaid.ed.gov:
From the StudentLoanBorrowerAssistance blog:
"Once rehabilitation is complete, the loan is removed from default status and you are eligible for new loans and grants. The default should be removed from your credit record. In most cases, however, the other negative history will remain until it gets too old to report."
There's a thread here as well:
I don't think removal of all negative info is a slam-dunk, although I do think a GW-type approach might be good. It's not begging to ask for a GW, and I'd hate to have someone end up thinking they are entitled to removal when, in fact, they aren't. People get a variety of results largely because there's no solid policy on this.
10-30-2012 11:23 AM - edited 10-31-2012 07:24 AM
Thanks to all for your help in this thread.
When starting to write my GW letter to Sallie Mae, I found aditional paperwork on the rehabilitation. The letter from NYS Higher Education Services Corporation states that "If the debt has been rehabilitated the HESC loan is deleted from your credit history."
The AES purchased loan (after completing rehabilitation) is now on my credit report with a start date matching the original Sallie Mae loan.
I am sending a copy of this letter to Sallie Mae Advocate requesting that they remove the loan in its entirety.
Keep your fingers crossed!
10/31 - update - sent request to remove to the advocate group at Sallie Mae via email last night.
11-02-2012 06:56 AM - edited 11-02-2012 06:58 AM
I sent an email to the advocate asking for deletion and included the letter from NYS Higher Education Services Corporation stating that "If the debt has been rehabilitated the HESC loan is deleted from your credit history."
Received a quick email response letting me know that they are reviewing. Fingers crossed
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO