Regular Contributor
apandabear
Posts: 200
Registered: ‎03-15-2012
Re: What can I expect?? Rehabbing with Windham Professionals
[ Edited ]

There's a very long thread on "Student Loan Rehabilitation and the Effect on Tradelines." I've read through the entire thing. It's actually pretty interesting, but does go to show you that everyone's situation will be different.

 

Some people's loans are purchased right away and they begin on a new loan immediately.

Others take a few months to get purchased. Some of those end up paying the Collection Co for a few more months, some don't.

 

Then there's different situations. For me, I started with Sallie Mae, who closed my accounts two years ago. I will likely have those lates forever.

Because they were sent to my loan guarantor, USA Funds. They are now reporting on those loans. This is the tradeline that will either get deleted, or all lates removed and paid as agreed. I hope!!!  I am paying a collection agency, Allied Interstate, to rehab my loans. Allied Interstate is nowhere on my credit report. USA Funds is updating my loan amount each month as it gets smaller.

 

I'm at payment 7/month 6 right now. I know what a rough, bumpy, and scary ride this can be. Just hang in there. No matter what happens, it's going to get much better from here!! Best of luck, and check in with us often!

2009-10 - C/Os
2011 - Debts paid, no open credit
2012 - Rebuilding started, secured cards opened, SL rehabbed - EQ myFICO 636
2014 - 10k Discover, 3.5k Freedom, AmEx Green, SL, Auto Loan - EQ myFICO 695