PLEASE HELP: Deleting Lates from ECSI/Alma Mater

[Anonymous]

When the CARES Act was enacted I thought all my loans would fall under it. Unfortunately I had no idea that one did not. It was a Frderal Perkins loan and apparently there are some that fall under the Univeristy and some that fall under the Dept of Ed. Well this one fell under my university and I had no idea. It ended up being serviced by ECSI and I didn't realize I had lates until it was reported to the credit bureaus. Which is when I just decided to pay it in full. Now it's affecting me in getting low rates when trying to apply for student loan refinancing. I'm also planning on getting a new truck sometime soon and got pre-approved for a 50k loan through Chase but feel I won't get a decent interest rate if I don't attempt to get these lates off my report.

I have called ECSI and they said they don't take good will letters and my university said the same thing. Now I'm about to submit a complaint to the Ombudsman Group from the Dep of Education. 

Does anybody have any success with getting lates off of their paid in full account from ECSI or have any successful advice they can give me?

[FireMedic1]

Honestly I cant remember anyone getting lates removed via GW for SL's and starting a thread on it. At least in here. I'll even ask @calyx if its even possible. Peek in the Student Loan Section and look around there too. SL's have changed since the 80's when I had them. So I'm no help. Sorry.

[Anonymous]

No worries thanks for the reply and the help to look in the studen loan section, I'll give it a look.  

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@FireMedic1 wrote:

Honestly I cant remember anyone getting lates removed via GW for SL's and starting a thread on it. At least in here. I'll even ask @calyx if its even possible. Peek in the Student Loan Section and look around there too. SL's have changed since the 80's when I had them. So I'm no help. Sorry.

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It just sucks because it was an honest mistake and I had the funds to pay it off but since all my loans are "federal" I thought they were all under the Cares Act. Apparently only one wasn't. 

[gdale6]

I would submit the complaint if it was not made clear this loan was not covered under the Cares act. SL services do not do GW removals unless there is a mistake on their part.

[Anonymous]

I'll do that thank you for the reply.

[calyx]

Late to the party, but there are a very few servicers who will do goodwill deletions, most notably Mohela and Great Lakes (they won't update the file to being good, but go for the "no data" reporting).   If the student loans are transferred away, they'll even delete the entire tradeline (which, 6 of 1 - half dozen of the other depending on the severity of the delinquency and age of the tradeline)

ECSI and Dept of Ed are not known for GWs though.

[Anonymous]

That's incredibly unfortunate 😞 but I appreciate the response. Thank you for your help.

[Anonymous]

Is all the negative info only showing up under the school as a closed account with a second trade line under Dept of Ed ECSI?  Does the second tradeline show as "good standing" due to covid relief?

One thing you can do is comb through the recent changes to Regulation F of the FCRA.....see if you can find ANY violations by the school.  Quite a bit of research but worth it!  Think "leverage" and consider it a "war".  If they have no interest in helping you a GW won't help.

Something else.....there is a whole booklet the federal govt gives (gave) schools on proper procedures and so on.  They are actually REQUIRED to report to any "one" credit reporting agency....HOWEVER, there is nothing in the rule prohibiting the removal of the info (i.e. delete).

My concern is that I'd the school does not have the Perkins anymore and ECSI is servicing it, the school has less incentive to help you.  They actually relinquish all interest to the loan.  Dirty business.  Also, the FTC website can be useful   A "debt collector" is technically a distinctly separate thing from an original creditor, HOWEVER, there are exceptions, and most of the time, an original creditor can be held to account just as a so called "collector" can.  All the best.

[Anonymous]

Unfortunately, there is no second line from the department of education. All from my university. It just sucks because I had like a 755 prior to this and it was in another email I rarely use now since I graduated. So one, I had no idea I was getting emails for my loan there plus since it's a Federal Perkins loan I didn't know it was subject to different rules since it was the universities and not the DoE. It's sucks because apparently Perkins can be either or but since it had the word Federal I thought it was part of the DoE.

[Anonymous]

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@Anonymous wrote:

Is all the negative info only showing up under the school as a closed account with a second trade line under Dept of Ed ECSI?  Does the second tradeline show as "good standing" due to covid relief?

One thing you can do is comb through the recent changes to Regulation F of the FCRA.....see if you can find ANY violations by the school.  Quite a bit of research but worth it!  Think "leverage" and consider it a "war".  If they have no interest in helping you a GW won't help.

Something else.....there is a whole booklet the federal govt gives (gave) schools on proper procedures and so on.  They are actually REQUIRED to report to any "one" credit reporting agency....HOWEVER, there is nothing in the rule prohibiting the removal of the info (i.e. delete).

My concern is that I'd the school does not have the Perkins anymore and ECSI is servicing it, the school has less incentive to help you.  They actually relinquish all interest to the loan.  Dirty business.  Also, the FTC website can be useful   A "debt collector" is technically a distinctly separate thing from an original creditor, HOWEVER, there are exceptions, and most of the time, an original creditor can be held to account just as a so called "collector" can.  All the best.

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I appreciate the help