Federal Student Loan

[simplegirl]

I have 5 different federal student loans with one 90 and 120 days late. My question is when does that fall off if the accounts are still opened? I had gotten a forbearance that was pushed back to the months before those lates and I sent that to the credit bureaus but they said that was enough information. The lates were in october and November and the forbearance was pushed back to July. Can i get the lates removed by contacting fedloan if not when will they fall off?

[RobertEG]

The Higher Education Act includes special provisions for certain types of federal student loans that both require reporting of delinquencies and also exempt the normal exclusion periods/provisions of the FCRA until the loan is repaid.

If your student loan is of a type subject to those provisions of the Higher Education Act, that means that deliinquency reporting is mandatory, and that they will remain without ANY exclusion until the loan is repaid. 

Thus, the creditor cannot grant good-will deletions, and no exclusion will occur until the loan is closed and paid.

Once the loan is repaid, the normal exclusion provisions of the FCRA then apply.  Normal provisions of the FCRA mandate exclusion of montly delinquencies after 7 years.

[simplegirl]

Does that mean 7 years after its paid or after the delinquency?

[RobertEG]

Seven years from the date of delinquency.

The normal exclusion provision for monthly delinquencies applies, which is NOT based on date paid.

[Anonymous]

I know this is older but I would suggest using the letter for the retroactive forbearance and submitting it with an online dispute to the 3 CB. It sounds like you did it before, but it wouldn't hurt to try again. The worst that could happen is it gets flagged as a repeat of the same dispute and they reject processing it. I've found that they can give you a different answer to the same dispute sometimes and even vastly different answers from each of the 3. Good luck and hope you can get that cleared up.