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Member
Viaggiatore
Posts: 7
Registered: ‎10-27-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines


bahbahd wrote:

Why can't Nelnet be good to past trade lines? Rehabbed or not, they do not adjust any previous history.


The tradelines are what I worry most about.

 

I'm comfortable in my job, maying money, and have paid off my debts.  My $250K in student loan debt is obviously a lot, but it's the only thing I owe to anyone, and I knew I was getting into that.  But I have 17 trade lines from my student loans, and not knowing what'll happen to them when I finish my rehab is just killing me.

Travel's fatal to prejudice, bigotry, narrow-mindedness, and many of our people need it sorely on these accounts. Broad, wholesome, charitable views of men and things can't be acquired by vegetating in one little corner of the earth all one's life.
New Member
39kdk
Posts: 2
Registered: ‎05-06-2011
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7yr Start Date

Fico Survivor's,

 

           Looking for the date the clock starts against you. Ex: Sallie Mae student loan account -First question, Is it the last activity date on the account or is it when they opened/ closed  the account ? Trying to remove red flags on credit report. 2nd question, How and who do you contact to remove the red flags? Credit bureau's? Sallie Mae? Both?

Excellent site. Thanks for any info.

 

Anthony

 

 

New Contributor
KausticRage
Posts: 55
Registered: ‎10-10-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

Wow, I have read every single post the last couple of weeks and I feel very lucky.  My journey has been pretty much hassles free since I started rehab and my scores have improved drastically with the help of this forum.

 

Here is my journey from the depths of SL default and low 500s FICO score to where I am at today

 

Feb 2012: Started loan rehab with Windham Professionals

 

Oct 2012: Made 9th payment with Windham Professionals on 10/18

 

Nov 2012: Nelnet picked up loans on 11/14

 

Nov 2012: Nelnet reporting positive trade line on 11/26 backdated to when SL originated

 

12/1: All negative trade lines on Experian removed by Colorado Student Loans (Guarantor) and EX FAKO score went from 641 to 724 (I know to take it with a grain of salt) but when I apped wit AMEX a couple of weeks ago they said my EX FICO score was 647 so I am hoping for the best on that one :smileyvery-happy:

 

I am still waiting for TU to update and hopefully they don’t give me much hassle like I have read for others.  Either way I have spoken to Colorado Student Loans and they said to give them a call if they don’t update by mid-month and they will help with the removal.

 

I'm super stoked and will be relieved when the final negative TL is removed and I can continue with my credit life :smileyvery-happy: :smileyvery-happy:

April 2013 FICO Scores
Experian - 709 Chase Freedom Pull
Equifax - 788 BofA MLB Rewards Pull
Trans Union - 778 (GE Money Bank CLI scores)

In the Garden until at least 2014 to let the new accounts age and HP's fall off. 800 club here I come...
Established Contributor
kjel
Posts: 543
Registered: ‎11-27-2012
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Re: Student Loan Rehabilitation And The Effect On Tradelines

[ Edited ]

Does anyone know how to check if you are on the treasury offset list? I only received something from DOE that my student loans are in default and may be subject to offset but nothing after that. Once they were sold to CBE I contacted them to set up the rehab plan. CBE advised to file for an extension but I have to file my taxes for my daughter's FAFSA so she can get her financial aid award for the following year-thankfully what she's been getting in Pell/State grants covers her tuition at the community college and we've been saving her child support so she'll have tuition for the 4 year university so no loans. I told her that's the biggest gift she can give herself...a debt free education.

 

 

OK, found an answer myself lol. For others that are wondering you can call the Treasury Offset Program-Financial Management Service at 800-304-3107. There is an automated system that you can input your SSN into and it will tell you if you have a debt listed for offset. It says that the system updates daily so I will check periodically.


Starting Score: TU: 549 | EQ: 549 | EX FAKO: 541
Current Score: TU: 664 | EQ: 722 | EX: 722
Goal Score: 720s All Around!
Last HP 11/10/2014

New Contributor
cem13
Posts: 59
Registered: ‎07-20-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

After 6 months of re-hab, the off set was lifted. I waited until my rehab was finished before i submitted my taxes. I had several thousand dollars being returned. I didnt want to chance it.

But if the phone number to the IRS says you are good, then there is no problem.
MyFICO '08: AUG2014: EQ=707, TU=693, EX=711
MyFICO '08 JUN2014: EQ=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO MAY13: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO JAN13: EQ=701; TU = 677) 2 years after filing BK7, 18 months after discharge in JUN11
MyFICO (SEP12: EQ=677; TU=670) 16 months after discharge BK7.
MyFICO (JUL12: EQ=671) 13 months after BK7.

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Valued Member
BigE2000
Posts: 29
Registered: ‎12-03-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

Hi gang!  Thank you for all of your time and posting to this thread.  Very impressive.  I know results vary but I'm hoping to gather a few opinions on what I could expect post-rehab, and perhaps some of you could share or prognosticate at bit.  I wonder what's likely to happen.  I had a few Great Lakes FFEL loans default in Nov '06 and since then, the account histories for each loan are mixed....either No Data or Collection Account.  Strange.  So I'm currently finishing rehabilitation and I'm quite anxious about the account histories, or tradelines....what may become of them once I'm done with this.  Thanks in advance for any thoughts, and congratulations to all of those who have bettered their situation with this program and got the best results possible. 

Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

Got my letter fron HESC today! 

 

Stated "The NYSHESC is providing this letter as confirmation of payment in full on the educational loan account listed. This notification is also sent if your account was purchased by a lender through rehabiliation, as the debt owed to NYSHESC is paid in full. Defaulted student loans are reported to all national credit bureaus. NYSHESC will notify these credit bureaus to update your credit file to indicate that your loan is paid in full. If the debt has been rehabilitated, the loan is deleted from your credit history".

 

I am so happy to get the letter! It's dated November 25, 2012. I wonder how long it's going to take to update with credit bureaus? 

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
New Contributor
KausticRage
Posts: 55
Registered: ‎10-10-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

[ Edited ]

Congrats on the rehab.  It took less than a month for Experian to be updated for me and I'm just waiting on TU to update.  The range they usually give is up to 60 days and in some cases a little earlier or later.

April 2013 FICO Scores
Experian - 709 Chase Freedom Pull
Equifax - 788 BofA MLB Rewards Pull
Trans Union - 778 (GE Money Bank CLI scores)

In the Garden until at least 2014 to let the new accounts age and HP's fall off. 800 club here I come...
Regular Contributor
Unique620
Posts: 233
Registered: ‎10-03-2009
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

Thanks,

 

Yes that's what they told me when I called last week. Everything so far went smooth. My loan was picked up on the November 19th and haven't heard from them yet. Hopefully, it updates less than 60 days so I can make my FICO goal before the year ends.

Filed BK 04/2011|BK Discharged 08/2011|Hard Pull I 12/05/2012 |


Starting Score: EQ 523 03/2012
Current Score: EQ 649 I TU 655 (02/2013) EX 672(01/2013)
Goal Score: 700 on all CR's 04/2013
New Visitor
fatboi
Posts: 1
Registered: ‎11-09-2012
0

Re: Student Loan Rehabilitation And The Effect On Tradelines

[ Edited ]

Unique620, Did your credit scores improve yet?


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