topic Re: Nelnet Late Payment Removal in Student Loans

Nelnet Late Payment Removal

Anonymous — Fri, 24 Feb 2017 19:58:26 GMT

I am brand new here. This is my first post. I sent a message through Nelnet's "contact us" on their site. I have late payments from August 2010 through 2012. I asked them to remove them early if possible. I know August is right around the corner but I'm anxious to get these off. I want to purchase a home this Summer. Anyone ever have any luck getting these of their report with Nelnet?

Re: Nelnet Late Payment Removal

Anonymous — Fri, 24 Feb 2017 20:11:27 GMT

Welcome to the forums. I just paid off Nelnet and all throughout my time paying I tried to get lates removed. They would not budge. I hope you fair better.

Re: Nelnet Late Payment Removal

Anonymous — Sat, 25 Feb 2017 00:02:01 GMT

I have the same issue! I have called many times and the said the only way they will remove them is if I was in school or miliarty during that time. Which I wasn't.

I am going to be sending a goodwill letter monday...hopefully that will help

Re: Nelnet Late Payment Removal

Anonymous — Sat, 25 Feb 2017 23:30:37 GMT

May have better luck getting early exclusion thru the 3 individual credit companies. Search the board for early exclusion.

Re: Nelnet Late Payment Removal

MrsCHX — Thu, 02 Mar 2017 21:31:27 GMT

Good luck. I"ve tried to get lates from 2013 removed for the past 13 months. Nelnet will not budge.

Re: Nelnet Late Payment Removal

Anonymous — Fri, 03 Mar 2017 23:20:16 GMT

Thanks everyone for your feedback all very informative. I'm still waiting for a response....of course. I'll be back with an update when I get one! Thank you again!

Re: Nelnet Late Payment Removal

Anonymous — Sat, 04 Mar 2017 14:33:17 GMT

Been trying to get lates GW'd off for 2 years every month or so. No luck here. GL

Re: Nelnet Late Payment Removal

kats_rebuild — Fri, 24 Mar 2017 11:52:33 GMT

I had numerous 120+ day lates from 2010 and 2011 on SL from Nelnet and ACS. I tried numerous times to get them to GW the lates but they wouldn't budge. But in October I was still able to secure a home loan through an FHA loan with a 3.25% interest rate. Additionally I was approved for a conventional mortage with a 3.75% rate, so there is home ownership hope despite old SL lates.

The only negative things on my credit report were the old student loan lates and inquiries. I just had to write an explanation for the lates when my file went to underwriting.

Frankly it's still really frustrating that the SL loan lates are on my file, but there is really nothing I can do. They will begin to age off this summer and finish aging off next year. I literally can't wait.

Re: Nelnet Late Payment Removal

Anonymous — Sat, 25 Mar 2017 15:34:13 GMT

This gives me great hope!
It's super frustrating I'm happy mine will finally begin to fall off this Summer as well. Thank you so much for sharing!!

Re: Nelnet Late Payment Removal

Anonymous — Thu, 06 Apr 2017 16:20:39 GMT

That's such a relief to hear. The way my student loans are/were organized, it shows at 9 separate accounts with serious delinquency, even though they've been rehabbed and are current again -- it's absolutely killing my credit score. I've been working my butt off to pay off collections and charge-offs from a few years ago, and everything else that can be caught up is, but Nelnet just will not budge on those late marks. The SO and I were planning to try to buy a house in the near future, so it's good to hear there's a way to work around them.

Did you have any other negative marks that you'd already cleaned up when you went for your mortgage, or just the student loans? (I know you said it was the only negative thing showing; but were there any things you'd already fixed, or had you just not had anything else?) Were your lates on the SLs also showing across seperate accounts like mine seem to be doing?

@kats_rebuild wrote:
I had numerous 120+ day lates from 2010 and 2011 on SL from Nelnet and ACS. I tried numerous times to get them to GW the lates but they wouldn't budge. But in October I was still able to secure a home loan through an FHA loan with a 3.25% interest rate. Additionally I was approved for a conventional mortage with a 3.75% rate, so there is home ownership hope despite old SL lates.

The only negative things on my credit report were the old student loan lates and inquiries. I just had to write an explanation for the lates when my file went to underwriting.

Frankly it's still really frustrating that the SL loan lates are on my file, but there is really nothing I can do. They will begin to age off this summer and finish aging off next year. I literally can't wait.

Re: Nelnet Late Payment Removal

kats_rebuild — Mon, 10 Apr 2017 14:09:46 GMT

The only thing negative when I applied for my mortgage was my student loan lates. I had some other baddies but they had either fallen off or been removed years before (2012).

As far as the student loans go, I believe I had 4 tradelines that all showed 120+ lates. Keep in mind they were pretty old at this point. My last late was September of 2011, and my mortgage application was approximately 5 years later. I did have to write a one sentence explanation for each tradeline explaining why I was late as part of my underwriting process. These lates are still on my credit report and will likely be there for the full seven years. Frankly, I don't think my score will go over 720 until they fall off.

Another thing to note is that FICO scores used for mortages are often not the same as ones given to you by credit card companies or even this website. You need to ask your lender what mortgage score they use. When I applied for my mortgage my FICO scores were all hovering around 710-722, but my mortgage scores were a bit lower at 680-690. It wasn't a huge deal, but it meant that I didn't qualify for the lowest conventional rate, which is why I ended up with an FHA. I really suggest checking out the mortgage board, it was really helpful for me when learning about the process.

Re: Nelnet Late Payment Removal

Anonymous — Sat, 30 Sep 2017 04:31:45 GMT

Hi Katz,

How many lates exactly?? Who was your lender and what state?

Thanks!