Navient late payments

[Anonymous]

I was just wondering if anyone had any experience with timing out on late payments on a naive to account. I know it's 7 years but that's seems like forever

[RonM21]

I'd try to GW route anyway to see if they'll delete. You'll have nothing to lose, so it's worth a shot or two.

[RobertEG]

Are they late payments reported on federally insured or guaranteed student loans?

If so, the 7 year exclusion period does not apply if still delinquent.  Is the account now current?

.

[Anonymous]

The account has been current for over two years and have done several GW letters to no avail. I believe it is federally insured but I could be wrong. Does it matter? RobertEG

[Anonymous]

From everything I have read, as well as personal experience, Navient (or any other SL for that matter) will not remove lates on a now current loan.  They aren't reporting incorrectly, so we really have nothing but GW to go for.  In addition, there is some statute, etc. that a SL must report accurately--meaning lates and all--but I am not well versed in that.  I agree, 7 years is a long time, but I'm the one who didn't make the payments, so I really can't be that upset with the lender for reporting it. 

[RobertEG]

The Higher Education Act places very specific requirments on federally insured or guaranteed student loans.

One is that there is no statute of limitations.

A second is that derogs are exempted from the normal credit report exclusion periods set within ghe FCRA when the debt remains delinquent.

However, when the account is returned to good-standing, the normal exclusion periods then apply.

Third, reporting of derogs to the CRAs is not optional.  They are required to be reported to at least one CRA.

Thus, you will only be able to obtain creidt report exclusion under the FCRA, not good-will deletions.

[girlonmission]

Hi Robert, how do we go about the exclusion for SL?

[Anonymous]

Ive tried and tried to get my late payments removed but good luck to you.