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Removing CR Late Marks?


Removing CR Late Marks?

Hello all, so I'm in the process of repairing my CR and rebuilding my credit as my goal is to get my score up to a 620 by December of 2012 (if I can), as I would like to try to apply for a new car loan to purchase a new car around that time. Currently I have 3 60-90 day+ late marks on my CR from student loans. I'm in the process now of repaying and getting current w/ Sallie Mae and SLFC (which orignally was ACS who then transferred it to SLFC at 60 days no payment w/ no derogatory mark -- but the ACS 60 day late still remains). So my question is, once I get current how do I go about requesting that Sallie Mae, ACS and SLFC remove the late marks on my CR? I noticed that once those are gone I will have the largest jump in my credit score, as per the myfico score simulator.

Also myfico EQ score currently is 538.. Smiley Sad as I have a default judgment on there that was just paid and satisfied, but I'm still awaiting an update w/ the credit bureaus.

Any information would be appreciated! Thanks in advance again!

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Frequent Contributor

Re: CR Late Marks

Sallie Mae is really tough to work with.  There are very few success stories involving them.  I too am in the process of trying to negotiate with them. Smiley Sad


Unfortunately, I am not familiar with ACS or SLFC, as I had two other lenders.  One I was completely positive with, but the other was USA Fund and fortunately it just took one GW email and they removed everything.  It really just varies from company to company; customer rep to customer rep.  I got lucky with one request.  Some people on here have sent 50+ GW letters to different people, different addresses, and different email addresses (not to mention all the phone calls) before they were successful with one removal/adjustment.  


If you haven't already, try searching the forum for ACS and SLFC to see what kinds of things people have said regarding the luck with getting GW removals/adjustments from these places.  They may have some valuable suggestions.


Good luck and stay persistent!! Smiley Wink

Message 2 of 3

Re: CR Late Marks

Thanks for the info! Although, having dealt w/ Sallie Mae for years, I know exactly what you mean. They are an absolutely awful company to deal with, and the reason why I fell behind on my monthly payments to begin with was due to being laid off from my employer. Despite pleading with them to offer me some assistance while I continued my search for work, they offered nothing of the sort and demanded I pay up, no questions asked (just as the mob would say), or else I'd default and they'd take me to court. Real nice. In fact, at times I've considered the fact that I may even get a better deal if I did default and the debt got sold off to someone else b/c I believe (after having dealt w/ SM) that any other company would be more forgiving than them. As for ACS and SLFC, they have been understanding and gracious for the most part during my hardship the last few months.

All that aside - could anyone on the boards here, who has sent a GW letter to ACS, SLFC and/or Sallie Mae and had some success, please provide an email and/or mailing address to the person(s) to contact? I would be most grateful! In the meantime, however, I will continue my research and see if I can dig up some other threads. 

Thanks everyone!


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