Payment Status effect on a TL

[Anonymous]

Hi,

A dispute from EQ on my student loan just finished post rehab. This was from the original account owners GLHE. All of the bad payment history went away, yay! (I think) However, the payment status details says "At least 120 days or more than four payments past due". The payment status states Late.

I have a couple questions how this will effect me if anyone can provide insight.

1) Should I expect a score change? I pulled my score and saw no update, but will try again when another CRA finishes their dispute.

2)  When can I expect this account to leave my credit report? Is it going to be by DoFD or since there are no late payment history will it go away 7 years from opening? There is no close date being reported even though it is closed/transferred.

Thanks for any and all help

[RobertEG]

Certain federal student loans are exempt under special provisions of the Higher Education Act from alll of the normal credit report exclusion provisions for delinquencies, charge-offs, and collections that are set under the FCRA until the loan is paid in full.

Completion of rehab can remove a prior default status, but it does not pay the full loan.

The new servicing creditor, once they report to the CRAs, will provide continued reporting of the loan.  That reporting will also not be subject to credit report exclusion if it is a federal loan that is exempted from the exclusion provisions of the FCRA.