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Regular Contributor
InvincibleSummer2
Posts: 171
Registered: ‎06-15-2012
0

Re: SallieMae - late payments

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:

  • Your loan(s) will no longer be considered to be in a default status.
  • The default status reported by your loan holder to the national credit bureaus will be deleted

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:

 

http://ficoforums.myfico.com/t5/Student-Loans/Federal-Student-Loan-Rehab-The-Law-and-You-please-read...

 

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.

 



Regular Contributor
SusieQ
Posts: 172
Registered: ‎06-22-2008
0

Re: SallieMae - late payments

[ Edited ]

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.


2014 Goal ....... 700 Club        Garden Club as of 9/15/2014
-----------------------------------------------------------------------------------------------          repairing credit takes time......be patient.
08/19/12 FAKO Scores - TU 560 EQ 545 EX 545     AVG 550
07/24/14 FAKO Scores - TU 720 EQ 666 EX 709     AVG 699 (increase of 149 pts)
09/12/14 MYFICO Scores - TU 690 EQ 687 EX 706
Regular Contributor
SusieQ
Posts: 172
Registered: ‎06-22-2008
0

Re: SallieMae - late payments

[ Edited ]

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


2014 Goal ....... 700 Club        Garden Club as of 9/15/2014
-----------------------------------------------------------------------------------------------          repairing credit takes time......be patient.
08/19/12 FAKO Scores - TU 560 EQ 545 EX 545     AVG 550
07/24/14 FAKO Scores - TU 720 EQ 666 EX 709     AVG 699 (increase of 149 pts)
09/12/14 MYFICO Scores - TU 690 EQ 687 EX 706

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