topic Re: Direct Loans response to GW - Help in Rebuilding Your Credit

Direct Loans response to GW - Help

Anonymous — Sat, 24 Apr 2010 01:31:33 GMT

I sent a GW letter to Direct Loans to remove some lates and received a response two weeks later. In addition to their speech on how they must only do accurate reporting, they said: Regrettably, we cannot remove the derogatory information because:

Other: Please provide a copy of your credit report.

What exactly are they looking to see in my credit report?

Re: Direct Loans response to GW - Help

Anonymous — Sat, 24 Apr 2010 02:03:14 GMT

I got the same response from them when I sent a GW on behalf on my BF. I sent it in, with another copy of the same letter. They removed the lates with in a few weeks.

Re: Direct Loans response to GW - Help

Anonymous — Sat, 24 Apr 2010 02:13:19 GMT

Did you send the whole report or only the part that concerns them?

Re: Direct Loans response to GW - Help

Anonymous — Sat, 24 Apr 2010 14:40:32 GMT

I would only send the part that concerns them. They do not need to see any of the other accounts, they are none of their business.

Re: Direct Loans response to GW - Help

Anonymous — Sat, 24 Apr 2010 16:40:50 GMT

I only sent the part that concerns them. I didn't feel they need to base their decision on my BF's other mishaps, lol

Re: Direct Loans response to GW - Help

Anonymous — Wed, 26 May 2010 13:47:24 GMT

Sage,

Can you please PM me your goodwill letter to Direct Loans? I have written GWs before, but I know Direct Loans is a tough nut to crack.

I have a 60, 90, 120, 150, and 180 late with them from Feb 2007 - July 2007. I took a full load in Summer 2006, and only 2 classes in Fall 2006, and no classes in Spring 2007. I thought the 2 classes in the Fall would keep me in deferment, but they didn't (I didn't know you had to be at least half time). Also given the fact that I moved, I was not receiving correspondence and thought everything was okay. So apparently, my deferment ended in like August 2006 and with the 6 months grace period, my payments became due like January/February without me knowing.

I re-enrolled in August 2007 and finished my degree in December 2008. Refinanced all debt in December 2008, and have been perfect since then on my new loan.

I inquired last year about their rehab program, but was told that was only if you defaulted. I think that is a stupid policy. So somebody that defaults is allowed to erase their history, but not somebody who almost defaults and then makes good on everything?

Oh well. I would appreciate the help. Thanks.