rehabilitated student loan still neg on credit report?

[Anonymous]

Say does anyone know why after I entered an agreement with a collection agency to rehabilitate my student loans that my original creditor still has negative flags on my credit report?

My new installment loan approx. $8000 now shows up on with my on time payments as a positive influence on my credit report.  The loan now being owned by US Bank.  However the original bank, Wells Fargo, still shows up as four negative items (I had four seperate loans) on my credit history.  Therefore I have 4 red flags for negative history and now 1 current installment making payments.

CAn anyone shed any light on this for me?  Is this normal?

Thanks

[Breakthecycle2]

They aren't going to be removed. Sorry.

[Anonymous]

Thanks for responding!

So when you say they aren't going to be removed...that means?  Because I have other negative accounts that state " Status Details:  This account is scheduled to continue on record until Sep 2013."  However,on the 4 Wells Fargo accounts there is no indication of how long they will stay on record. 

Again any ideas?   Thanks in advance!

[Breakthecycle2]

When you rehab a student loan, only themarks made by the loan purchasor (the one you are paying) will be removed. The OC will stay until the 7 years od DOLA is up. I just had the same problem.

[Anonymous]

I believe only the collection accounts themselves are removed.  As previously mentioned, the 4 OC accounts will still be on there until CRTP passes (not showing a default, I hope), and the new loan will be on there, but contrast this to consolidating instead of rehabilitating first: 4 OC accounts in default, 4 collection accounts, and the new loan.  Would you prefer 4 baddies or 8?

At least, this is what I'm expecting to happen to my wife's CR when we finish her rehab in May/June 09 (4 OC accounts showing a current status but probably with lates, 4 collections account GONE, and 2 new loans).