Student Loan Rehabilitation And The Effect On Tradelines

[Anonymous]

Ficotron,

or whatever your name is now... 

Don't be so bloody rude and you may get more folks updating this thread.

Yes that is what I did and it was resolved within 30 days.

If a CR line is wrong, it is presumed correct unless you notify the authority.

Yes dispute it. 

Just be prepared to offer tangibles to prove that it is wrong.

The burden of proof lies with you.

http://www.myfico.com/CreditEducation/Rights/FixingAnError.aspx

Do the dispute ONLINE.

It will take about 10 days to get resolution.

You MAY get an email saying they are "still investigating".

If they side with the lender, they will tell you.  They will not tell you WHY.

At this point you will need to have your documentation ready.

Place a comment on the CR and state that it is incorrect.

Immediately afterward MAIL them your documentation.

At minimum this should be deleted off.

After I went through this my score jumped 78 points and I and a few of my mates who went through this felt that it was a war of resolve.  In the end it had little to do with accuracy and more to do with "oh heck if he is going to keep bugging us well then ok, we will take it off."

Cheers

[MarineVietVet]

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@Anonymous wrote:

Ficotron,

or whatever your name is now... 

Don't be so bloody rude and you may get more folks updating this thread.

Cheers

---

Hi there.

I'm not sure what you are referring to when you say the OP was/is being rude. I see no evidence of that although admittedly the written word can be interpreted different ways by different people because it's difficult to know the writer's intent.  Can you give an example of perceived rudeness?

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[FicoTron]

thanks marinevet, I don't fink I were being rude to this chap or anyone else...he's all sixes and sevens.

[FicoTron]

Ok, so I called DOE today to hopefully get some answers, and I did.  I told them how it wasn't being reported correctly and they said that it was the credit bureau's fault and that they haven't updated the reports yet, which is weird because they reported in September for August.  They told me to call the bureaus and take it up with them.  They did however specify that all the negs should be TOTALLY removed...I'll believe it when I see it.  It just seems weird that ALL 3 bureaus are still reporting the negs...

[tooleman694]

As of right now on all my reports

2 of the defaulted loans have been removed from my report..

All the collections from ECMC have been removed..

But only TU is reporting my new loans..

Im thinking about disbuting the other trade lines that were not removed and see what happens..

My Scores right now are higher then I ever remember them being..

[tooleman694]

Yesterday all the old trade lines came off my report and my score jumped 20 points..

Wondering what my scores will do when the new loans show up on my Equifax report..

[FicoTron]

they reported the positive student loan tradeline for september, but haven't reported on the negs yet...I can only hope that they are going to fall off...hopefully I have good news for everyone soon...i'll keep you posted.

[Trondul]

I'm in exactly the same boat as you Ficotron.  My rehab went through on Aug 1 and the new tradelines are reporting normally but the old ones are showing on TU and Equifax.  For whatever reason they had fallen off of Experian long ago.  My mortgage broker is trying a rapid rescore to see if they can get them removed because they are keeping me from qualifying for a conventional mortgage, which includes Fannie Mae's Homepath.  FHA doesn't care for whatever reason though.  I'll let you know of that works or not.  Thanks for all the updates by the way.

[TilltedBrim]

I can tell you for an absolute fact that after completing my loan rehabilatation all negatives were erased completely.  In fact it shows up on my report as though I made my payments on time the whole time I was in default. So for the last couple of years it now appears on my report: OK OK OK OK OK OK OK OK OK........ for the last year or so.  I did my loan rehabilation through Direct Loans I believe and my score went up significantly.  My rehabilation program was for 9 months and I am living proof that they did what they said they would.  Hope this helps and will be glad to give you any other info that may help....

[gijoe4500]

I just made my 8th rehab payment, so hopefully, within the next month or two, I'll be able to give you some information on how things go on my end as well!  Its always good to see when others are successfully getting all their lates removed, and tons of good-standing information on there reports.