Student Loans

[honky]

I've seen mention of retroactive forbearance, but have seen mixed reviews of its effectiveness.  I could try a GW, but I also read that is usually not going to work on a federal loan.  Are there any good email contacts people have had success with sending GW?  Is there any decent shot at getting the 90 day late removed? 

This is my only recent late and is killing my score pretty bad.  I honestly forgot about this $50 payment until I got a notice in the mail saying I was late...which was pretty stupid of me.  This happened in November and I do not want to be punished for 7 years.  I have the money to pay the whole loan off right now, so it stinks to be hurting my score for such an insignificant debt.

[honky]

I honestly havent done anything with these loans, my wife always handled the school stuff.  I send the checks to dept of edu, but on my bill it says mygreatlakes.org for account info.  Im assuming GL is the loan holder.  I also found this on a google search...looks like the right place to me.  Any thoughts?

http://www.sdasfaa.org/associate.html#g

[honky]

I just got a phone call from a very helpful person who informed me they would grant a 1-time GW based on our circumstances.  He said it will take 5-6 days to process and they will update the reporting!

[aot2009]

I was about to say the other option is when you default they do a special rehabilitation to the loan for nine months of on time payments then they remove all lates.

[honky]

Ive seen that, but I didnt actually default so I dont think I qualified.

[reve]

OMGosh I'm so glad to run into your post. I also had a recent late with US DEP OF ED dated back since NOV 2011 which they have reported 120 days late until FEB 2012. I have never had any lates before in my credit report, but with 4 120+days late reported twice due to having two accounts with them (ridiculous), my credit score plummeted by over 100 points!!!  I found out about the lates through pulling up my credit report prior to trying to purchase a new home! The thing was, (u probably know) they moved their entire system to a new website, I didn't know about it, didnt think about it bc I always had my account on autopay before this happened.  I mailed in and also faxed Direct Loans a goodwill letter explaining what had happened since March 12th but have yet to hear anything from them! May I please ask who did you contact in order to get a return phone call with such great news?? I've called into Direct Loans Servicing and spoke to supervisors every other day to see if they have any updates, but they always blame their credit department (which they have no communication with) that they are backed up and have not got to my letter yet. My fear is that my letters are tossed somewhere on the corner of of someones desk and no one will do anything about it. Its been more than a month!!  Im so anxious to get this resolved as I am having a brand new baby in August. Im hoping to be able to get approved for a mortgage before then! Im so sorry for the long long message, but please please help me!!!! I am desperate! I vow to post my story if I ever succeed so that others can also learn!!! Thank you so much!!!

[aot2009]

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reve wrote:

OMGosh I'm so glad to run into your post. I also had a recent late with US DEP OF ED dated back since NOV 2011 which they have reported 120 days late until FEB 2012. I have never had any lates before in my credit report, but with 4 120+days late reported twice due to having two accounts with them (ridiculous), my credit score plummeted by over 100 points!!!  I found out about the lates through pulling up my credit report prior to trying to purchase a new home! The thing was, (u probably know) they moved their entire system to a new website, I didn't know about it, didnt think about it bc I always had my account on autopay before this happened.  I mailed in and also faxed Direct Loans a goodwill letter explaining what had happened since March 12th but have yet to hear anything from them! May I please ask who did you contact in order to get a return phone call with such great news?? I've called into Direct Loans Servicing and spoke to supervisors every other day to see if they have any updates, but they always blame their credit department (which they have no communication with) that they are backed up and have not got to my letter yet. My fear is that my letters are tossed somewhere on the corner of of someones desk and no one will do anything about it. Its been more than a month!!  Im so anxious to get this resolved as I am having a brand new baby in August. Im hoping to be able to get approved for a mortgage before then! Im so sorry for the long long message, but please please help me!!!! I am desperate! I vow to post my story if I ever succeed so that others can also learn!!! Thank you so much!!!

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Did you send the letter certified? 

I'd sue them if they don't resolve it, not so much for money but to get it resolved.

[reve]

yes I did...I both certified mailed it and faxed...

[jordanmedical]

How were you able to get this accomplished? I've been trying to get a GW 90-day late for a month now and have been shot down everytime.

[danny4l]

I'm in the same boat.  I'd love to hear how you got it removed too. I have one 60 day late