Advice/Education Needed: FedLoan to remove derog. marks or does it fall off?

[Anonymous]

Hi there everyone,

I've been stalking these forums as I've been going through my credit rehab and it has been a HUGE help and influence on how I went about fixing and building a new foundation. I know that Students Loans never go away so it has to be paid but my question is on the credit reporting side. When your past mistakes stop haunting you.....

The ONE thing I cannot shake and it's haunting my report/credit history: FedLoan!!

They no longer handle the student loan debt as that has been transferred to GreatLakes and I've been paying that off consistently. In great standing with them actually as I am on time and even pay more than required. As of today, I have a spotless credit report with the exception of 5 FedLoan accounts (small increments of $1,000 each). I've hired specialty credit fixers, NOTHING. Lexington Law, NOPE. Specialty Credit Lawyers, TOUGH F'n LUCK. 

So, at this point I am at a lost. So, I was hoping if anyone can help me out with advice or some education on the following 2 questions:

1. Is there ANY WAY to get these 5 accounts removed or do I just have to wait until the 7 years mark for it to fall off?
2. If I do have to wait, at what point and START date does the 7 years ticker starts counting?

Below is a sample of one of the accounts.

Fed Loan Servicing CLOSED

	EQUIFAX	TRANSUNION	EXPERIAN
Last Updated	06/2019	02/2017	02/2017
Payment Status	At least 120 days or more than four payments past due	120 days past due	Account transferred to another office
Worst Delinquency	120+ days past due	120 days past due	180 days delinquent
Balance	$0	$0	–
Credit Limit	–	–	–

A bit of background on me:

• Went through rough patch in 2014 and lost my job.
• Unable to pay consistently since then
• Credit was at 580-620 as recent as 2015. 
• Started credit rehab at beginning of 2016 until now.
• EQ, TR, EX FICOs sitting in the 720-750 consistently as of Feb. 2020

I just want to prepare for buying a house thus I want to clean up ANYTHING that can damage that opportunity if possible or at least know when it's going to fall off.

Thank you in advance for the help.

[dragontears]

1. Most of the time there is nothing to do but wait for it to age off

2. To know when they will age off you need to find when they first went delinquent, the information you posted doesn't have that information 

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@Anonymous wrote:

Hi there everyone,

I've been stalking these forums as I've been going through my credit rehab and it has been a HUGE help and influence on how I went about fixing and building a new foundation. I know that Students Loans never go away so it has to be paid but my question is on the credit reporting side. When your past mistakes stop haunting you.....

The ONE thing I cannot shake and it's haunting my report/credit history: FedLoan!!

They no longer handle the student loan debt as that has been transferred to GreatLakes and I've been paying that off consistently. In great standing with them actually as I am on time and even pay more than required. As of today, I have a spotless credit report with the exception of 5 FedLoan accounts (small increments of $1,000 each). I've hired specialty credit fixers, NOTHING. Lexington Law, NOPE. Specialty Credit Lawyers, TOUGH F'n LUCK. 

So, at this point I am at a lost. So, I was hoping if anyone can help me out with advice or some education on the following 2 questions:

1. Is there ANY WAY to get these 5 accounts removed or do I just have to wait until the 7 years mark for it to fall off?
2. If I do have to wait, at what point and START date does the 7 years ticker starts counting?

Below is a sample of one of the accounts.

Fed Loan Servicing CLOSED

EQUIFAXTRANSUNIONEXPERIANLast UpdatedPayment StatusWorst DelinquencyBalanceCredit Limit

06/2019	02/2017	02/2017
At least 120 days or more than four payments past due	120 days past due	Account transferred to another office
120+ days past due	120 days past due	180 days delinquent
$0	$0	–
–	–	–

A bit of background on me:

• Went through rough patch in 2014 and lost my job.
• Unable to pay consistently since then
• Credit was at 580-620 as recent as 2015. 
• Started credit rehab at beginning of 2016 until now.
• EQ, TR, EX FICOs sitting in the 720-750 consistently as of Feb. 2020

I just want to prepare for buying a house thus I want to clean up ANYTHING that can damage that opportunity if possible or at least know when it's going to fall off.

Thank you in advance for the help.

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[Mookey67]

+1

[NimbusIII]

Although waiting is unfortunately the most likely option, as long as your current on your loans now they will not be weighed much in your mortgage evaluation outside of DTI.  As the lates age they also have less impact on your scoring. Hope this provides some encouragement and best wishes in achieving your goals.

[Anonymous]

Thank you for that and it's much informative. 

As for the date as to when it FIRST went delinquent, here is an example of that:

• EQ: oldest 90 days late is 5/2014
• TU: oldest 90 days late is 12/2013
• EX: oldest 90 days late is 05/2014

So am I assuming that its 7 years from those date?

 OLDER DEROGATORY EVENTS

	EQUIFAX	TRANSUNION	EXPERIAN
30 Days Late	–	–	–
60 Days Late	–	–	–
90 Days Late	11/2014, 10/2014, 05/2014	01/2017, 12/2016, 11/2016, 10/2016, 09/2016, 08/2016, 07/2016, 06/2016, 05/2016, 12/2015, 11/2015, 10/2015, 09/2015, 08/2015, 07/2015, 06/2015, 05/2015, 11/2014, 10/2014, 05/2014, 04/2014, 03/2014, 02/2014, 01/2014, 12/2013	01/2017, 12/2016, 11/2016, 10/2016, 09/2016, 08/2016, 07/2016, 06/2016, 05/2016, 12/2015, 11/2015, 10/2015, 09/2015, 08/2015, 07/2015, 06/2015, 05/2015, 05/2014

[Anonymous]

Thank you for your response and support. I just wanted to know the timeframe as to when it starts ticking so I can plan around that and be smart with my money until then.

[donkort]

I wonder if Early Exclusion could apply to student loan debt.  I would tend to doubt it...but why not research this option.

Seems like you're getting pretty close to 7 years.

Ive read you could apply for EE 6 months in advance for TransUnion, 2 months for Experian, and 1 month for Equifax. 

[Anonymous]

You will be followed by that last string of lates until May of 2023 the older lates from 2013 will fall off this year but every instance of delinquency will not fall off until 7 years from the date that particular string of lates occured, do not try to get them removed, they start digging up and investigating, i hired Lexington law to dispute mine due to a retroactive forbearance, and they dug up and tried to tell Equifax based on a manual adjustment they were going to be counting mine as late from September 2013 instead of October, which (this is bs) would have made my original date of delinquency December 2019, luckily I fired Lexington law and talked to a nice supervisor at fed loan and we agreed directly I wouldn't dispute any more and they would send me a re revision letter for Equifax stating the updated information was incorrect and the original date of delinquency was correct as October 2013. Disputing student loan lates is the worst idea ever, I learned from experience

[Anonymous]

Thank you for this. Exactly the kind of answer I was looking for. Seems like I cannot do anything but wait and let that **bleep** fall while continuing to keep my score high.

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@Anonymous wrote:

You will be followed by that last string of lates until May of 2023 the older lates from 2013 will fall off this year but every instance of delinquency will not fall off until 7 years from the date that particular string of lates occured, do not try to get them removed, they start digging up and investigating

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