Valued Member
Posts: 29
Registered: ‎12-03-2012
Re: Student Loan Rehabilitation And The Effect On Tradelines

Hi MaddMatter70/Kathy4NU...  I'm in the rehab proess and I'll share some info based on things I've read on this thread as well as from what GL has told me.  So GL currently has my loans and they said I should expect GL to continue as the servicer regardless of who picks them up.  I've found GL to be pretty honest brokers...they seem to be good.  It appears to me that a good number of people here are having some success with their rehabbed (& CR "refreshed") loans not containig negative information, which is awesome. But sometimes people are having more trouble with getting the original loan(s) that were transferred upon default, updated to no adverse info.  Say your loans were originally funded by XYZ bank, and serviced & guaranteed by ABC Co.  After you default and ABC purchases the loans from XYZ, on your credit report, the loans labeled anything with XYZ (perhaps now reading transferred/sold/$0 balance) and their negative tradelines, may be trickier to get clean post-rehab.  But again, it seems that the CR loan items post-default are the ones people are seeing the most success with.  And sometimes these results vary on who the servicer is.  I think GL is in charge of the credit reporting if they are the servicer, regardless of who the guarantor is. 


I wish everyone on here the best of success.  It's a blessing that we have hope to get clean tradelines but of course we're all assessed a significant penalty fee for defaulting.  But I suppose that's okay....understandably part of the process.  I'm soon to have my last rehab payment and I'll try to post an update or two on what happens.