Date of First Delinquency

[Anonymous]

So I was going through my report to see when my closed Nelnet loans would fall off which to my knowledge is DoFD. They have this date as 1/2015. However looking at the payment history, it shows 10/2012 as the first reported late then NR (not reported) straight through to 2015 where it pops up late again. 

Is there anything I can do to get the date bumped back? Based on this these should fall off this year unless I am mistaken? Am I just overthinking this?

[Anonymous]

What kind if lates?
I ask this because it wouldn't be unusual for you to have had a late in 2012, deferred (or they're just not reporting payments for this time period, ) l then for the account to be late again in 2015. It's not necessary the beginning and end of the string.
I would get copies of my bills and find out what's in the blank spots first.

[RobertEG]

In addition to the comments made by Sabii, which state that reporting NR in intervening months does not establish anything regardng whether the account was returned to pays as agreed, good standing, and then a new chain of delinquency began, the additional issue is whether the loan is even subject to the credit report exclusion provisions of the FCRA, such as 7 years for monthly delinquencies.

The Higher Education Act exempts the normal credit report exclusion provisions set forth under the FCRA for certain types of federal student loans until the loan is totally paid.

First, it must be determined whether the exclusion of derogs provisions of the FCRA even apply to your loan......

[Anonymous]

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@RobertEG wrote:

In addition to the comments made by Sabii, which state that reporting NR in intervening months does not establish anything regardng whether the account was returned to pays as agreed, good standing, and then a new chain of delinquency began, the additional issue is whether the loan is even subject to the credit report exclusion provisions of the FCRA, such as 7 years for monthly delinquencies.

The Higher Education Act exempts the normal credit report exclusion provisions set forth under the FCRA for certain types of federal student loans until the loan is totally paid.

First, it must be determined whether the exclusion of derogs provisions of the FCRA even apply to your loan......

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Well, the loan is closed as I eventually rehabbed and moved to another loan servicer.

[Anonymous]

The loan is listed as closed, paid off?

From memory if you only rehabbed (not consolidated) it would be transferred to another servicer. In that case, I'm not sure the loan would be paid off and the above would therefore still apply? Could be wrong...

[Anonymous]

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@Anonymous wrote:
The loan is listed as closed, paid off?

From memory if you only rehabbed (not consolidated) it would be transferred to another servicer. In that case, I'm not sure the loan would be paid off and the above would therefore still apply? Could be wrong...

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It shows closed - transferred to another lender.

[Anonymous]

Then my understanding would be the account is just transferred to another servicer, but the loan remains. In that case, what Robert says applies. It could stay 10 years or until it's paid off.
Maybe someone can weigh in with clarification.

[Anonymous]

I guess my issue is all the other loans that closed due to that rehab show as paid and report positively but nelnet has refused to report theirs in that way. It's more of an annoyance.

[Anonymous]

They are reporting correctly.
It is a mistaken belief that rehabbing guarantees removal of lates. Now some servicers do it anyway, or they can be removed by disputing (though again, not by any right to have them removed), but if they stick they are there until they fall off.
The only thing rehabbing guarantees, unlike consolidation, is the removal of the default. You can check other threads on this and people have the same experience. You either luck out or you don't.

[Anonymous]

Yeah, I'm aware. Like I said it's more of an annoyance. They're old so I'm not super concerned but I'm sure they still impact my overall score in some way so it is what it is. I'm assuming they should stay for 7 rather than 10 though since they are closed, reporting a 0 or no balance depending on the bureau.