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Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

[ Edited ]

just got a letter today from direct loans that stated that they reported ONLY the positive tradeline...they say it is just up to the bureaus to update it now so that the negs fall off.  I went through this last month waiting to see if it would fall off and it didn't.  They haven't reported for september yet, so once again, fingers crossed.

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Regular Contributor
tburns
Posts: 151
Registered: ‎11-04-2010

Re: Student Loan Rehabilitation And The Effect On Tradelines

kinda funny. I also got a letter from Direct Loans today stating they contacted the credit bureaus to remove the negatives on my reports and asking if they can do anything else for me.

 

But in my case I didn't have any negatives so I don't have to worry about that. Just a new 13.7 year account with all positives and on time on all 3 reports.

Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

yeah thats the same letter I got.  Just still waiting for them to clear off.  Still haven't reported the negs since 8/11

 

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

my transunion reports the loan as paid on time for the last 48 months! thats nice.  The negs are still reporting on all 3 bureau's though.  Still waiting.

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
New Member
porkenchoppens
Posts: 1
Registered: ‎10-12-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

I completed my 9th payment back in September. I called them to see what the next step was, they said the loan had to be picked up by a lender (standard) and then everything should "flip" on my credit report. This is good news, however, I don't necessarily trust the debt collector (general revenue)

 

I did get a weird letter in the mail from the guaranty agency last that said "it seems you have started to rehabilitate your federal student loans. Keep it up!" or something, but I'd already technically rehabilitated since I made 9 payments. At any rate, from the accounts here I see this taking quite a while. It'd be nice to say all the bad stuff is gonna go away and I'm going to see a 50 or more point rise in my FICO, but I'm not so sure. General Revenue seems like a chinsy sort of fly by night deal, and I KNOW for a fact they are really Sallie Mae in disguise (that second bite of the apple is tastiest!) Anyway, I'll update this thread to let you guys know what happened in my situation. I'm not holding my breath! It seems like as long as GRC is pulling money out of my bank account each month, they're in no hurry to get my loan to another lender.

Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

I really don't want to have to dispute all 6 seperate tradelines on all 3 bureaus but Direct Loans insists that they forwarded the correct info, yet my reports are all showing the "past due" amounts and showing that I owe more than double of the actual amount.  I don't want to push any wrong buttons and have them just update it to "not past due" and keep the negs on there...I hate this waiting...the last time the negs reported was August...any ideas out there?

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Valued Member
Trondul
Posts: 31
Registered: ‎04-14-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

I'm in the same boat Ficotron.  I close on my house a week from tomorrow and after that, I'm entering a period where I won't be applying for credit (new car, new house, all the cards I need, etc.)  As soon as I close I'm going to dispute all 11 tradelines on Equifax and TU.   I'll let you know what happens.

Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

are your loans through direct loans?  how long have you been done with the rehab process?

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12
Valued Member
Trondul
Posts: 31
Registered: ‎04-14-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

Yes, they are with Direct Loans and rehab was completed on August 1.

Established Contributor
FicoTron
Posts: 512
Registered: ‎01-27-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

so did your mortgage creditor question the negatives or did they understand?  It must be killing your score, as it is mine.

EX-774 (Amex Fico) 8/12
EQ-725 (Fico) 1/12
TU-729 (Fico) 3/12

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