Re: Student Loan Rehabilita
tion And The Effect On Tradelines
11-07-2012 09:05 AM
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 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.