New Contributor
Posts: 59
Registered: ‎07-20-2012
Re: Student Loan Rehabilitation And The Effect On Tradelines



Aug 10th (for Sept 1 payment): 9th payment in rehab.

Aug 10th: Called DOE Collections and they deleted their tradeline.  FICO jumped 40 points  Still have the OC tradeline showing default.

Oct 3rd:   Made 10th payment to DOE Collections Dept.  No one knows the time frame for loans to come back.

Oct 25th: Called DOE and they told me the loan was being picked up by FedLoan Servicing as of 18OCT12.

Oct 25th: Went to FedLoan Servicing Website.  They have me listed in the system but no details are available at "this time".

Oct 25th: Disputed TL with EQ ant TU.  EX would not let me disupte on-line because I already disputed before.

Oct 29th: Called FedLoan Servicing and they did not have me in the system.

Oct 30th: Received email from FedLoan saying "congratulations blah. blah, blah".

Nov 1st:  Called DOE about deleting trade.  They transferred me to DOE Collections.  She told me that DOE will delete TL and FEdLoan will report separate, new TL.

Nov 1st:  Made 1st payment to FedLoan.

Nov 7th:  NSLDS Website shows my loans as active and NOT in default.

Nov 7th:  Checked Experian CR.  Still shows SL in default.  FedLoan TL is not listed.  Checked with Score Watch.  No alerts yet.


I am anxious to get this TL removed.  I am expecting another 40 point rise.  The new TL will not help because I have installment loans reporting.  I am hoping that they report "paid as agreed" from the initial loan opening.  If they report "new", my AOA will drop because I will have 3 "new accounts".


I have a power utility reporting on EQ.  I had this open for 22 years.  This raised my AOA to about 8 years.  My TU AOA is only 4 years because Power Utility does not report to TU.  This costs me 7 points by the way.  So I am expecting to lose another 10 points (net gain 30 points) on TU due to AOA dropping.

MyFICO '08: AUG2014: EQ=707, TU=693, EX=711
MyFICO '08 JUN2014: EQ=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO MAY13: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO JAN13: EQ=701; TU = 677) 2 years after filing BK7, 18 months after discharge in JUN11
MyFICO (SEP12: EQ=677; TU=670) 16 months after discharge BK7.
MyFICO (JUL12: EQ=671) 13 months after BK7.

Wallet: NFCU Rewards: $25K; Cap1 QuickSilver: $2250; Barclays Apple Rewards: $2000; Cap1 Rewards: $1500.