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.
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.
yeah thats the same letter I got. Just still waiting for them to clear off. Still haven't reported the negs since 8/11
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.
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.
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?
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.
are your loans through direct loans? how long have you been done with the rehab process?
so did your mortgage creditor question the negatives or did they understand? It must be killing your score, as it is mine.