New Contributor
mizmagic
Posts: 64
Registered: ‎10-20-2012
Re: Wait time for new lender after 9th payment of rehab

I would like to know the same thing.

I just completed rehab and sent a GW to the company that currently holds my loans and they sent me this:

 

"Dear xxxxx,

 

Thank you for contacting American Student Assistance® (ASA).

I reviewed your account and found the Loan Rehabilitation program for your federal Consolidation loan currently held by ASA®  is due to be completed this month. As such, ASA® your guarantor, will ask your previous loan holder and consumer reporting agencies, (Equifax, TransUnion, and Experian), to remove the default entry from your credit report; It may take up to 90 days after the loan is sold for the default to be removed from your credit history.

I hope this information is helpful to you."

 

Does this mean they are selling my loan to someone else, but removing the negative marks on my credit report?


Starting Score: 523
Current Score: EQ 608 EXP 648 TU 565
Goal Score: 800


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