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Student loans after Bankruptcy

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Student loans after Bankruptcy

I hope this is the best forum for this topic. I have 3 student loans that I was 90days late on. I filed CH7 and it discharged in May of this year. I have just learned ( thanks to this commuinity) that those lates will stay on my report for 7-10years. Is there anything that I might be able to do to combat those lates? I read in another forum that GW letters don't usually help with student loans. My circumstances were extremely extenuating leading to homelessness and me not being able to pay the loans. Everything else was discharged in my BK, so these lates are the main thing hurting me now. Any advice or guidance is much appreciated. 

Starting Score: 465
Current Score: 573
Goal Score: 620


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Message 1 of 5
4 REPLIES 4
Senior Contributor

Re: Student loans after Bankruptcy

I'm no SL expert. I've read alot that you can call your lender (mainly Federal Student Lenders) and ask about their Late Payment Forgiveness Program. Usually they will remove all past late payments from your credit report after you have made 9 on-time payments. But we kinda have a SL expert @Sabii that has SL's kinda nailed down. So they'll hve a better answer and great advise. Good Luck!





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 5
Established Contributor

Re: Student loans after Bankruptcy

My understanding is that your accounts were just late, not in default. In that case, the lates will fall off in 7 years and the account(s) will stay on your report for 10.
Yes, goodwills don't really work because the Higher Education Act blahblah doesn't allow them to report as anything other than accurate. I do know that people have had success getting them removed with disputes to the CRAs. This is usually after people rehab but I don't see where it would hurt to try. I guess you would user your legal paperwork about the bankruptcy and the loan as the supporting documents.
I wish you the best of luck and let us know how it works out for you.



Message 3 of 5

Re: Student loans after Bankruptcy


@Sabii wrote:
My understanding is that your accounts were just late, not in default. In that case, the lates will fall off in 7 years and the account(s) will stay on your report for 10.
Yes, goodwills don't really work because the Higher Education Act blahblah doesn't allow them to report as anything other than accurate. I do know that people have had success getting them removed with disputes to the CRAs. This is usually after people rehab but I don't see where it would hurt to try. I guess you would user your legal paperwork about the bankruptcy and the loan as the supporting documents.
I wish you the best of luck and let us know how it works out for you.

I will start with a dispute with the CRA. If that doesn't work, perhaps I will reach out to the lenders as Firemedic1 suggested. I had no clue late payments stayed on your credit for so long. Thanks so much for the advice. I'll follow up with any results.

Starting Score: 465
Current Score: 573
Goal Score: 620


Take the myFICO Fitness Challenge





Message 4 of 5

Re: Student loans after Bankruptcy


@FireMedic1 wrote:

I'm no SL expert. I've read alot that you can call your lender (mainly Federal Student Lenders) and ask about their Late Payment Forgiveness Program. Usually they will remove all past late payments from your credit report after you have made 9 on-time payments. But we kinda have a SL expert @Sabii that has SL's kinda nailed down. So they'll hve a better answer and great advise. Good Luck!


Thanks so much for tagging Sabii. You are always so helpful.

Starting Score: 465
Current Score: 573
Goal Score: 620


Take the myFICO Fitness Challenge





Message 5 of 5
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