Re: Student Loan Rehabilita
tion And The Effect On Tradelines
11-10-2012 11:37 AM
My original lender was Sallie Mae. Then my loans were bought and consolidated by AES (American Education Services). So in answer to apandabears question, not only did the AES TL's get removed but also the Sallie Mae ones. More to come at the end of the month. My update will probably be later than that because my wife and I are moving to Florida so we'll be kind of busy but I will definitely update you guys in the early part of December.
Wow, you're having better luck with the Sallie Mae tradelines than I am.
I noticed today my original Sallie Mae TL on my Experian report was altered a bit. Status changed from the default/paid by gov't to "Transferred/Closed." I pulled my annual free report to see the full payment history (USAA only shows 2 years) and they had NOT changed the payment history. BUMMER. But I was prepared for that anyway.
And time for something strange!
I got a letter from USA Funds (dated Nov 1) congratulating me on finishing rehab, yadda yadda, we have a new lender for you, blah blah... It's ACS...
ACS??!?! What? I just made a payment to Sallie Mae. They are reporting on my new loans. Even NSLDS is showing Sallie Mae as the lender.
Color me confused.
So unless ACS sends me something, I'm going to ignore that. How weird. Did someone get their lender codes mixed up when filling in my robo-letter??
But all in all, slow progress with the TLs. I'm happy to be done with rehab, and glad my loans were picked up so quickly. Currently paying $20 over the minimum just as an interest cushion, plus it's closer to what I was paying the collection agency.
2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 4 CC, SL, Auto Loan - EQ myFICO 669