Completed Student Loan Rehab, but Sallie Mae didn't delete original negative marks

[Anonymous]

Quick question. I completed my student loan rehab and am now enrolled with ACS to pay off my loan. OCAP (Oklahoma College Assistance Program) deleted my negative marks off of my credit (as per the rehab agreement) and they told me the Sallie Mae marks should come off with it. Well this was last month, and they still haven't come off. Should I send a Goodwill delete letter? Has anyone had a similar issue?

[coluccim]

Everyone that had Sallie Mae as guarantor has this problem.  Sallie Mae will not budge.  But, don't let this discourage you from trying.  Someone has to get lucky, right?

[Anonymous]

Yea I've never had much luck with them. They've got 4 loans listed, when I only had 2. I called them, I disputed it, and it remains. But I think that if the terms of loan rehabilition are that all negative marks would come off "like it never happened" (quote from OCAP) then legally Sallie Mae should cooperate with that. Guess not.

[Anonymous]

So I just got off the phone with OCAP (Oklahoma College Assistance Program) and they told me that legally Sallie Mae has to take it off as part of the loan rehab progam. She said to check my report again at the first of the year and if it's still on there to contact OCAP and they will send the information and have them delete it!!!

[coluccim]

The rehab wording states that they only must remove the default status from the reports, which they do. They get to keep all the lates.

Sallie Mae sticks to this - and sticks it to us.

http://www2.ed.gov/offices/OSFAP/DCS/rehabilitation.html

Your rehab paperwork will only mention the deletion of default status also.

[princessornurse]

Yeah, I have that issue with Sallie Mae too. Sucks.

[currentlywinning]

Any updates as of the first of the new year?

[wisher131]

Any updates on this?? I am in the same situation and have disputed multiple times.  I busted my butt paying out almost 600/month for Student Loan rehab, and now I feel it hasn't helped in anyway. The rehab was completed 4 months ago and I have not seen even a 1 point increase in my score.  Help!! Any advice would be greatly appreciated.

Thank you!

[e0je]

I rehabbed my loan in 2006 and all the late payments for Sallie Mae stuck like glue. I then disputed with Ex/Eq/Tr to no avail in 2006/2008/2010, I attempted to call a few times but Sallie Mae had no real answers.

I've been really upset for a long time with the lies and misrepresentation of this program, for one I opted to rehab because it would clean up my credit and as a business owner good credit is very important however in doing so I had to consolidate my loans with the late fees however if I opted to just consolidate without taking advantage of rehab benefits my balance would be 20k compared to 30k with the rehab that includes 10k in penalties.

Since 2006 my loans have been paid on time and my credit is strong but i paid dearly with high interest rates and high deposits. 

Surprisingly in Feb 2012 Ex/Tr removed the late payments from their reports now my fico is 761/726 and Equifax is 676 because the history stayed with Equifax. I have disputed twice w/ Equifax since Feb and just found out an hour ago Equifax payment history is sticking. Upside the negative remarks fall off this year sequentially in Sept, Oct, Nov, Dec (7years)

However there was no point in rehabbing my loan because i still paid dearly to obtain credit. If anyone considers Student Loan Rehabilitation I would think twice if you have a loan through Sallie Mae just consolidate and wait seven years for those negatives to fall off. Oh if you just consolidate you cannot obtain another student loan (needs to be verified).

If anyone is interested and has the wherewithal to file a class action suit for damages let me know i would even be will to assist in funding a case against Sallie Mae with a competent attorney.

[webhopper]

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@e0je wrote:

I rehabbed my loan in 2006 and all the late payments for Sallie Mae stuck like glue. I then disputed with Ex/Eq/Tr to no avail in 2006/2008/2010, I attempted to call a few times but Sallie Mae had no real answers.

I've been really upset for a long time with the lies and misrepresentation of this program, for one I opted to rehab because it would clean up my credit and as a business owner good credit is very important however in doing so I had to consolidate my loans with the late fees however if I opted to just consolidate without taking advantage of rehab benefits my balance would be 20k compared to 30k with the rehab that includes 10k in penalties.

Since 2006 my loans have been paid on time and my credit is strong but i paid dearly with high interest rates and high deposits. 

Surprisingly in Feb 2012 Ex/Tr removed the late payments from their reports now my fico is 761/726 and Equifax is 676 because the history stayed with Equifax. I have disputed twice w/ Equifax since Feb and just found out an hour ago Equifax payment history is sticking. Upside the negative remarks fall off this year sequentially in Sept, Oct, Nov, Dec (7years)

However there was no point in rehabbing my loan because i still paid dearly to obtain credit. If anyone considers Student Loan Rehabilitation I would think twice if you have a loan through Sallie Mae just consolidate and wait seven years for those negatives to fall off. Oh if you just consolidate you cannot obtain another student loan (needs to be verified).

If anyone is interested and has the wherewithal to file a class action suit for damages let me know i would even be will to assist in funding a case against Sallie Mae with a competent attorney.

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Wow it seems that someone needs to file suit... seems like a deceptive busiess practice to me. Claiming one thing and then doing another.