Member
ZeroG1MC
Posts: 7
Registered: ‎11-29-2012
Re: Rehab waiting game

 

What will happen is that your current loan accounts will be closed (note of default removed and account balance brought to $0). The new lender will open up a fresh student loan account that will appear on your credit report with perfect payment history dating back to the same initial payment start date of the original defaulted loans. The issue that most have is getting those lates removed from the defaulted accounts. I just posted today about how my Good will letter to have them removed by Nelnet was denied. Its worth a try, however those missed payments of yours (and mine) are accurate so they dont have to remove them. You do have a good shot if the payments were missed due to being shipped out by the military or something along those lines. They have to remove the "default" from those old accounts, but bot the missed payments. It helps to just look at the situation and feel lucky that we both had a second chance and have our loan rights restored (ability to receive new loans and deferment etc...) and have the default removed. That default destroys your credit score. Good luck to you!


Starting Score: 580
Current Score: 703
Goal Score: 750


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