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Registered: ‎09-20-2016
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does any credit repair company remove student loan lates after rehab

rehabbed 7 federal student loans last month EQ removed everything,EX,TU didnt.ive disputed,goodwill letters everything i read on these forums,just getting feed up,is there a credit repair place or lawyer or anything that can help me get these lates removed

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Re: does any credit repair company remove student loan lates after rehab


bigred134 wrote:

rehabbed 7 federal student loans last month EQ removed everything,EX,TU didnt.ive disputed,goodwill letters everything i read on these forums,just getting feed up,is there a credit repair place or lawyer or anything that can help me get these lates removed



The only negative items on my credit report are late payments for student loans serviced by Mohela. Servicer changed to Navient and all of my payments have been on time for nearly a year. I tried a goodwill letter to Mohela and they are firm with their position to leave the "late's" on the report. This being the sole negative info on my credit report is not a good indicator of my creditworthiness as a whole. If you find out who can help, please respond back to this thread.

 

The purpose of getting these eradicated is to get a mortgage for me and my wife. The student loan negativity is severly crippling us from positioning us where we need to be.

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Registered: ‎06-23-2010
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Re: does any credit repair company remove student loan lates after rehab

Hi bigred:

 

When you rehab a federal student loan, what changes on your report is the status of that student loan.  It no longer displays as being deliquent.  What does't change are the late payments that are displayed.  It's a common misconception that rehabing the student loan completely removes it from your report.  That is not the case.

 

Now, with that said, just as you've seen in your case, some people have had success getting the entire loan, including all of the late payment baddies removed from their report.  This happens as either a "mistake" on the part of the credit bureau or on the part of the student loan agency due to confusion on what should happen.  I think that we are starting to see this less and less these days as the financial institutions and the credit bureaus are leveling out about how to properly report the rehabilitation.  I've not had any experience with a credit repair agency, nor credit lawyer, so I cannot say what they would be able to do for you, but I certainly do your homework in that front to make sure you wouldn't be wasting your money.

 

The good news is that now that you've gone through the rehabilitation, as time passes then the late payments will start to impact your score less and less since they are aging and being replaced with a favorable payment history.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 712 (02/03/2017) Tu: 717 (04/03/2013)
Goal Score: Eq: 760 Tu: 760

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