Re: Rehab - 9 months or 9 Payments?

wonder1 · ‎01-19-2013

Hi all,

I would like to clean up my credit as soon as possible. I am in rehibilitation with my Direct Loan. I'm curious if I can make rehibilitation payments early? Does it have to be one payment a month? Or, can I make payments anytime and get out of rehabilitation early once 9 payments are made? Has anyone finished rehab early? I'm on my fourth payment.

I can call them and ask, but you know how it is when you're curious about someting and you don't want to wait until business hours to learn more. Thanks!

anackerman · ‎01-19-2013

I just started the process of rehab on one of my loans yesterday and it was explained to me that I need to make 9 sheduled payments for 9 months. She explained that multiple payments each month will not affect the legnth of my rehab.

Like I said, I'm new to this process, but that is the info I got yesterday while setting up my rehab.

Starting Score: EQ 540 / TU 524 (1/20/13)
Current Score: EQ 540 / TU 524
Goal Score: 680

wonder1 · ‎01-19-2013

Thanks for the information. I guess I'll just have to wait.

kjel · ‎11-27-2012

It's nine months of payments. I got a little lucky because I had just started sending in small payments as a goodwill gesture three months before the rehab program was offered so they credited them. I am almost at the end of 9 months and impatiently waiting for the next stage of getting my loans picked up.

Starting Score: TU: 549 | EQ: 549 | EX: ???
Current Score: TU: 536 | EQ: 588 | EX FAKO: 569
Goal Score: 620

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2013 Goals: 620s, out of student loan rehab, credit cards at 9% util