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Hi There,
I did not understand and thought my loan paymnts were paused until Sept. 1, 2023. I have three loans with Navient that are 96% paid off. In June/July 2023 Navient reported them as 90 days delinquent to all 3 bureaus. I brought them current in August 2023. My credit took a tank as they reported all three loans as separate delinquencies. I am trying to buy a house next year as a single mom and now these will stay on my credit until 2030 which is so depressing. I've already paid the May 24th payment in advance as well.
These are the loans I have:
I think your only option, unfortunately, is to let the lates age. You're correct that the likelihood of a goodwill on a student loan late is basically 0, and I don't believe FFELP loans are part of the ramp-up moratorium on late payment reporting.
ok thank you for the feedback. Do you think there is anything good that would come from disputing or noting something on the credit report? The worst part is that I have three separate dings because they are seperate loans even though tis one payment so its showing 3 delinquencies until 2030 it's going to cost me a lot of money for a long time.
If the lates are accurate, it would just be frivolous disputing to dispute them. Nothing would change in the reporting. You can add a consumer statement that says pretty much anything to your credit report, so you could add one about the circumstances of the lates, but that doesn't really accomplish much since it won't affect your score and lenders will basically ignore it. Unfortunately, once a student loan payment has gone 90D or more, there's not much you can do other than wait out the late.
The severity of the penalty for 90Ds does lessen somewhat over time, so, all other things being equal, you will see back some of what you lost before the 7 years are up. When my wife and I got our mortgage, she had a lot more than three 90D's on her student loans, but they were all four or more years old and we qualified just fine.