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Student Loans Lates

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Anonymous
Not applicable

Student Loans Lates

I bought the subscription to MyFico and I see on my report several late payments for student loans which accounts were closed and transferred to Navient. Navient is current and has been for 2 years. Does the 7 year rule apply to student loan late payments? If not when may I expect these to drop off.

 

Sallie Mae

Last activity on accounts was 10/2011 and 12/2011

 

Then I have Peaks still reporting as 90 days  late and it has been charged off.

 

10/-2017, 09/-2017, 08/-2017, 07/-2017, 06/-2017, 05/-2017, 04/-2017, 03/-2017, 01/-2017, 12/-2016, 11/-2016, 09/-2016, 08/-2016, 07/-2016, 06/-2016, 05/-2016, 04/-2016, 03/-2016, 02/-2016, 01/-2016, 12/-2015, 11/-2015, 08/-2014, 07/-2014, 06/-2014

 

 

Message 1 of 5
4 REPLIES 4
Adkins
Legendary Contributor

Re: Student Loans Lates

If these are federal loans, you cannot get the lates removed. The only way I've seen lates removed are when people have seriously defaulted and they go into a program to bring everything current, which also clears out the late payments.

 

Yes, the seven years and 180 days removal rule applies to student loans also. I had ones from a very old loan drop off before but they didn't drop off early. 


Last HP 08-07-2023



Message 2 of 5
RobertEG
Legendary Contributor

Re: Student Loans Lates

The Higher Education Act explicitly exempts certain federally insured or guaranteed student loans from the normal exclusion periods for both monthly delinquencies, charge-offs, and collections while the debt remains unpaid.

 

What is the specific type of your student loan?

Message 3 of 5
Anonymous
Not applicable

Re: Student Loans Lates

Sallie Mae is I believe a Federal Student Loan it has since been transfered to Navient and I have been paying them for 2+ years. Sallie Mae shows closed but late multiple times.

 

FA Peaks is a private student loan. I only owe them $381 which I can pay but not sure it is going to help me not knowing if it will be removed from my report. They will report PIF and closed.

Message 4 of 5
Anonymous
Not applicable

Re: Student Loans Lates

I PIF the Peaks student loan. I have also disputed several items on my report that I wasnt aware were even there. There is a AFNI collection for AT&T for $1300 and I have never even had AT&T. Then Verizon is still reporting on my CR and they have sold the debt to Jefferson Capital so I have a deoble jeopardy going on there. I hope my disputes work and they remove these from my credit report.

Message 5 of 5
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