cancel
Showing results for 
Search instead for 
Did you mean: 

sallie Mae Default/Rehab Question

tag
kenduc
Established Member

sallie Mae Default/Rehab Question

just got off the phone with Sallie Mae. rep said in order to qualify for Rehab, I have to be  Defaulted & 360 days late. currently i am only at 301 days late. he mentioned a delinquency Program but im not sure if thats going to get my lates removed from my report like a Rehab would. Not sure if i should let the 60 days go by and wait for a Rehab or Should I start paying now, Not knowing if i can get the lates removed from my report. This student loan is only thing currently on my report thats keeping me down and i just want this thing wiped out completely off my report and off this earth lol

Message 1 of 6
5 REPLIES 5
kenduc
Established Member

Re: sallie Mae Default/Rehab Question

Bump

Message 2 of 6
MidnightJester
Frequent Contributor

Re: sallie Mae Default/Rehab Question

I havn't heard of Sallie removing negative marks besides when through the rehab program. Should wait till someone else chimes in but if you want the bad marks totally gone that might be only way to do it. Call and ask them again a little differently see if a different rep says something else.

Message 3 of 6
martinsoka17
Contributor

Re: sallie Mae Default/Rehab Question

The general consensus with Sallie Mae rehab is that they are very difficult to deal with as far as getting the lates removed. With the rehab program (federal loans), the only marks requires to be removed are the "claim filed w/ govnt" and "default" remarks. Some people have luck and the servicer removes all negative remarks including the lates, but YMMV and I would browse a little more for some Sallie Mae GW success.
Starting Score: 523

Current Scores: EQ: 705 TU: 757 EX: 764

Goal Scores: 800 across the board



in the garden until 2019!
Message 4 of 6
MidnightJester
Frequent Contributor

Re: sallie Mae Default/Rehab Question

What happens if there are no BAD TL's to remove. Mine are/have fallen off by a few years. Will whatever NEW"OLD" TL (Sallie Mae) puts in place. What backdated TL will they reappear?? Will old lates in the Derogs pop up??

Message 5 of 6
martinsoka17
Contributor

Re: sallie Mae Default/Rehab Question

With federal student loans, they never really go away. They will come back. If they are private, they stay on for the 7.5 years or so. If your loans are federal, they can seize any tax refunds you may have, or start garnishing your wages without a judgement. Even if the TLs have dropped off, eventually they will start reporting again. Are your loans federal from the Department of Education, serviced by Sallie Mae, or are they private from Sallie Mae? If they are private, and have fallen off your CR, I would look up the SOL for your state to see if Sallie Mae could potentially keep coming after you for payment.

To answer your questions about new TLs, if your loans are federal and you successfully rehab them, a new TL will be put on your CR showing perfect payment history backdated to when you initially took the loans out, and will be showing you as paying as agrees until you pay the loans off. So yes, there will be a new TL (or a few, depending on how many you have). Sallie Mae will be required to remove the "default/claim filed with the government" verbiage from your fallen of TL, but since they haven't been reporting it for a while, it may be that they won't update it to show your most current lates. It's all up to them. I would try talking to a rep there to see how they would handle the situation in more detail.

Just remember: if these are federal loans, they will NOT go away just because they've fallen of your CR.
Starting Score: 523

Current Scores: EQ: 705 TU: 757 EX: 764

Goal Scores: 800 across the board



in the garden until 2019!
Message 6 of 6
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.