@Anonymous wrote:My loans were with US Dept of Education and then they were transferred to Aspire in 2013. Some not so good things happened and I never made even one payment to Aspire. After about 9 month Aspire closed my account and now it shows 0 balance but also shows 9 lates and a comment - loan assigned to government. I went through rehab program in late 2014 early 2015 and have been paying everything on time since then but I still got 4 years to go to pay entire amount off. Do you think Aspire will fall of this year? My first showing late payment with Aspire was in July of 2013 and last was in March of 2014. Currently my loan is with Great Lakes Borrowers Service.
Thank you!
Yeah, I don't think the entire account will drop off because, despite the lates, it wasn't closed with a derogatory status (ie. charge-off). I believe only the late payment notations will drop off as they hit their 7 year mark (so beginning July 2020). That would ultimately leave you with a loan tradeline that has a clean history. Since accounts closed in good standing remain on reports for ~10 years after the closed date, the account itself will remain.
@thornback wrote:Yeah, I don't think the entire account will drop off because, despite the lates, it wasn't closed with a derogatory status (ie. charge-off). I believe only the late payment notations will drop off as they hit their 7 year mark (so beginning July 2020). That would ultimately leave you with a loan tradeline that has a clean history. Since accounts closed in good standing remain on reports for ~10 years after the closed date, the account itself will remain.
You can double check this by pulling your Transunion & Equifax reports from annualcreditreport.com. The reports pulled from that source provide the Date of First Delinquency/Expected Removal Dates for derogatory and/or closed tradelines. If the date listed is 10 years from the account's closing date, then that would indicate the account will remain past the 7 years but the late notations should drop as they hit 7 years. If the date is listed as July 2020, then that would indicate the entire account will drop in 2020.
Thank you so much for the info! I was gonna wait until about July/August of this year to order free credit reports. What's weird to me is the fact that Experian no longer shows it at all. Actually my Experian FICO 8 score is 753, now that it's clean. TU is still at 661 
but it's from last month. Experian stopped showing Aspire couple of month ago and I was sitting at 709 due to a paid collection. It just fell off about a week ago and now I'm at 573! Hoping TU and Equifax will update this month to a better score also.
@Anonymous wrote:Thank you so much for the info! I was gonna wait until about July/August of this year to order free credit reports. What's weird to me is the fact that Experian no longer shows it at all. Actually my Experian FICO 8 score is 753, now that it's clean. TU is still at 661
If you know how Transunion and Equifax are treating the tradeline (whether as a derogatory or closed in good standing) it would be helpful.
If they are treating it as a derogatory, then you can get it removed from Transunion 6 months early by requesting an Early Exclusion (EE) --meaning, you could request now. Early Exclusions only apply to derogatory tradelines, not those closed in good standing but with some late notations in the payment history. You could do this for any other derogatories you have, including collections, that are within 6 months of dropping off.
Equifax will only grant an EE 1 month in advance -- so you'll have to still wait, but you may be able to get Transunion cleared up very soon.
Experian will grant an EE 3 months early.
@Anonymous wrote:I was gonna wait until about July/August of this year to order free credit reports.
Apparently, you can now pull your EQ report for free 6 times per year. This would be the same comprehensive report you'd pull from annualcreditreport.com. Literally just came across the notification on the FTC website and posted about it here:
So you can get your comprehensive EQ report at least -- and not use up your single annual credit pull...
@Anonymous wrote:@thornback
Thank you so much for that information! I actually didn't know about EE timelines for TU and Equifax. I will definitely do that since both of them show these as derogatory. My Equifax score is actually over 700 so I can wait until June. It's TU that's still pretty low. I'll get on it tomorrow! Thanks again! 😊
TU is the easiest & fastest to get an EE. You can just go to Credit Karma and file a dispute using the "Too old to be reported" reason code. Most see a resolution with deletion within 24-48 hours of dispute submission. & You're welcome!