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Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

Yah, that's pretty odd.... I accessed it on the 19th and checked my account with no problems what so ever.  I tried to login just now and I'm getting an error page.  One thing about that site is they do a LOT of maintenance for some reason.  But it worked fine the other day.  Guess it's just hit or miss.


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Valued Member
ch8ngeurstars
Posts: 25
Registered: ‎05-04-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

UPDATE!!!!!!!!

 

    ITS FINALLY HAPPENED!!!! I got 3 alerts this morning from equifax on my cell phone when I woke up.....All said "change to exisiting account". I logged in and to my surprise 3 TL's changed to from "120 days late" and "seriously delinquent" to "PAID AS AGREED" dated back to 2004. I am so excited I don't know what to do. I havent checked my score yet....I'm too nervous too. I'm afraid it might not be the big jump I was waiting for and I'll be dissapointed, but I'm gonna have to do it for everyone here who has taken this journey with me....lol. I 'll just have to suck it up. MORE TO COME...........


Starting Score: 435 EX(Fako)508 EQ(Fako)508 TU(Fako)522
Current Score: 521 EX(Fako)550 EQ(Fako)546 TU(Fako)525
Goal Score: 750 Across the board!

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

Re: Student Loan Rehabilitation And The Effect On Tradelines


ch8ngeurstars wrote:

UPDATE!!!!!!!!

 

    ITS FINALLY HAPPENED!!!! I got 3 alerts this morning from equifax on my cell phone when I woke up.....All said "change to exisiting account". I logged in and to my surprise 3 TL's changed to from "120 days late" and "seriously delinquent" to "PAID AS AGREED" dated back to 2004. I am so excited I don't know what to do. I havent checked my score yet....I'm too nervous too. I'm afraid it might not be the big jump I was waiting for and I'll be dissapointed, but I'm gonna have to do it for everyone here who has taken this journey with me....lol. I 'll just have to suck it up. MORE TO COME...........


Fingers crossed for you! Let us know. :smileyhappy:



Valued Member
ch8ngeurstars
Posts: 25
Registered: ‎05-04-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

Ok.......so far I am seeing a 70 pt increase in my equifax score but this is not my Fico. I am going to wait until November 1st to update all my monitoring accounts and check the current scores including my Fico At that time. The reason is because I literally just got an email from equifax notifying me of three TL deletions. The email also had a contact number I could call and I did. The person I spoke with told me to wait until the 1st because their systems are still calculating my score and there are several more TL's that will possibly need to be deleted. Needless to say I am one happy camper right now and I can't wait until the 1st. I will update all my scores on the bottom at that time. BTW my situation is proof that private loan TL's get deleted from your CR's also....not just loans that originated from Federal Direct Loans. 


Starting Score: 435 EX(Fako)508 EQ(Fako)508 TU(Fako)522
Current Score: 521 EX(Fako)550 EQ(Fako)546 TU(Fako)525
Goal Score: 750 Across the board!

Take the FICO Fitness Challenge

Established Contributor
BrokaToe
Posts: 726
Registered: ‎05-12-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

Well I got my account all set up with Nelnet and spoke to them on the phone.  They offered me a graduated payment plan which dropped my monthly payments from $240 a month down to $127 a month!  This is going to be a big relief, they were extremely nice and helpful as well.  So far my EQ score has jumped up nearly 20 points, but I don't think everything has been updated yet.  I'm going to wait a little while before I check a report, after all it's only been 20 days since they sent the request for deletions to the credit bureaus.  I'm very surprised at how smooth this has actually all gone, it's nice for a change. :smileyhappy:


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Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

Well..

 

NSLDS.ed.gov (national sudent loan DB) has finally marked my loans as 'in repayment' (effective 10/11/12). Although the balance doesn't look right .. it's about $5k in captilized interest short.

 

USA Funds is already off my credit report. I don't know when that happened, since USAA stopped daily pulls and I was not in the mood to pay more for it. My FAKOs increased dramatically. As of Nov 2, my FICO went up about as much as a normal monthly increase. A little disappointing because...

 

I'm about to get hit with at least one new tradeline.. Bought a brand new car (got exactly what I wanted and financing was no issue. still don't know my financing company or APR, but they let me drive the car outta there!!! I guess my $7k downpayment helped! haha). 

 

I do NOT have a new Sallie Mae tradeline on my CR yet. I don't know if it will also be a new TL, if it will be a backdated TL, or if they will pick back up on their original TL. 

 

So between NSLDS and my CR, it looks like Sallie Mae is the one that is lagging.

 

I will update as I have more info!! 

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines


ch8ngeurstars wrote:

UPDATE!!!!!!!!

 

    ITS FINALLY HAPPENED!!!! I got 3 alerts this morning from equifax on my cell phone when I woke up.....All said "change to exisiting account". I logged in and to my surprise 3 TL's changed to from "120 days late" and "seriously delinquent" to "PAID AS AGREED" dated back to 2004. I am so excited I don't know what to do. I havent checked my score yet....I'm too nervous too. I'm afraid it might not be the big jump I was waiting for and I'll be dissapointed, but I'm gonna have to do it for everyone here who has taken this journey with me....lol. I 'll just have to suck it up. MORE TO COME...........


Wow, that's awesome. Who was your original lender?? Did your original lender pick up your loan and fix your original TL??

 

That is fantastic. Congratulations! :smileyhappy:

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
New Contributor
cem13
Posts: 55
Registered: ‎07-20-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

UPDATE:

 

Aug 10th (for Sept 1 payment): 9th payment in rehab.

Aug 10th: Called DOE Collections and they deleted their tradeline.  FICO jumped 40 points  Still have the OC tradeline showing default.

Oct 3rd:   Made 10th payment to DOE Collections Dept.  No one knows the time frame for loans to come back.

Oct 25th: Called DOE and they told me the loan was being picked up by FedLoan Servicing as of 18OCT12.

Oct 25th: Went to FedLoan Servicing Website.  They have me listed in the system but no details are available at "this time".

Oct 25th: Disputed TL with EQ ant TU.  EX would not let me disupte on-line because I already disputed before.

Oct 29th: Called FedLoan Servicing and they did not have me in the system.

Oct 30th: Received email from FedLoan saying "congratulations blah. blah, blah".

Nov 1st:  Called DOE about deleting trade.  They transferred me to DOE Collections.  She told me that DOE will delete TL and FEdLoan will report separate, new TL.

Nov 1st:  Made 1st payment to FedLoan.

Nov 7th:  NSLDS Website shows my loans as active and NOT in default.

Nov 7th:  Checked Experian CR.  Still shows SL in default.  FedLoan TL is not listed.  Checked with Score Watch.  No alerts yet.

 

I am anxious to get this TL removed.  I am expecting another 40 point rise.  The new TL will not help because I have installment loans reporting.  I am hoping that they report "paid as agreed" from the initial loan opening.  If they report "new", my AOA will drop because I will have 3 "new accounts".

 

I have a power utility reporting on EQ.  I had this open for 22 years.  This raised my AOA to about 8 years.  My TU AOA is only 4 years because Power Utility does not report to TU.  This costs me 7 points by the way.  So I am expecting to lose another 10 points (net gain 30 points) on TU due to AOA dropping.

MyFICOm '08 JUN2014: Ex=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO May2013: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO March13: EQ=680; TU=677
MyFICO 09JAN13: EQ & TU = 677) 2 years after filing BK7, 18 months after discharge in Jun2011
MyFICO (09SEP12: EQ 677; TU: 670) 16 months after discharge BK7.
Myfico (JUL12: EQ 671) 13 months after BK7.

Wallet: NFCU Rewards: $25K; Capital One QuickSilver: $2250; Barclays Rewards: $2k; Capital One Rewards: $1500.
Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012

Re: Student Loan Rehabilitation And The Effect On Tradelines

So far, Sallie Mae has added tradelines to EX and EQ. 

 

Backdated to my original consolidation loan (2007). EQ shows a whole bunch of OKs in the months past. EX just shows one OK in October.

 

Nothing happening with my old loans. They all still say in default too. I'm going to keep giving it time. 

 

USAA is confusing all the TLs too. I have the defaulted loans on the same line as the rehabbed loans. Annoying. The account numbers aren't the same... I don't get it. 

 

Anyway, that's my only update. My FICO did just jump about 13 points. Can't really attribute that to anything right now. I need to pull a new Score Power report and see what is going on. December/January FICO scores should be interesting. 2 years with a completely clean report, and 2 current installment loans!! (Student Loan and new car loan)

 

Once I pay off my car (~3 years), I'm paying off my student loan as fast as possible. Currently paying just $20 above the minimum... Need to replenish my savings account after my huge car downpayment.

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695
Established Contributor
bahbahd
Posts: 729
Registered: ‎08-12-2011

Re: Student Loan Rehabilitation And The Effect On Tradelines

[ Edited ]

Man I wish I would have defaulted on my student loans.  I have so many months of 120 day lates while I was making payments. Nelnet denied a forbearance request, said I had met time limits, and I did not find out till they called 6 months later and told me I was about to default. Big thanks fellas. No email, letter, etc.  My fault for not logging in and checking my loan status every month. (I login 3-4 times a month now.)  Well, I accrued something like 19 late payment remarks. Most of which I got while I was making payments. I finally caught up. I should have just defaulted.

 

I bet Nelnet makes a killing in fees.


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