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Posts: 105
Registered: ‎09-15-2012
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Wells Fargo student loan charge off

A good friend needs advice. Her Wells Fargo student loan got charge off with a bunch of. 120 90 60 n 30 days late. Bottom line they reported to the IRS and some collection agency so last year income tax check was cut off half and the loan got completely paid what can she do to have all the negative info removed from her credit report I mean those lates and charge off are killing her credit really bad what can she do. Guys ?????
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Valued Contributor
Posts: 1,373
Registered: ‎06-09-2008
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Re: Wells Fargo student loan charge off

If the loan is completely paid off, the only thing left to do is write goodwill letters to the creditor and collection agency asking them to remove the history.  Results are mixed with these letters depending on the company, but many people here have reported success.  If you search these forums with her, you should be able to find examples, and maybe even people who know good specific contacts at Wells Fargo and the CA.

 

Other than that, she'll have to wait 7 years for the negative information to fall off completely, but it's impact on her score will decrease over time.

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Senior Contributor
Posts: 4,336
Registered: ‎09-06-2008
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Re: Wells Fargo student loan charge off

As SCF mentioned, good will letters are really her only option now.

 

The 30 day lates may not be hurting much anymore, depending on how old they are, but the 90 & 120 day lates are going to hurt for quite a while if she is unable to get them removed.

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