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FedLoan GW Advice?

Sandals26
New Member

FedLoan GW Advice?

Hi all! 

Happy Friday! Reaching out for some advice. I'm trying to goodwill a few late payments on my student loans. I was late 6 times (CRA show Jun - Dec 2016), but over 2 loans so a total of 12 lates. I finally obtained a copy of my retroactive forbearance letter from FedLoan. It states: 

 

Approved: Delinquency Forbearance 4/23/2016 - 10/02/2016

Approved: General Forbearance 10/03/2016 - 01/31/2017

 

My plan is to mail in a GW letter along with this forbearance letter to the CRAs. I'd like to get all removed or at least shoot for months Oct-Dec to be removed since those were under "general forbearance." 


Has anyone had success with GW lates with a similar letter? 
Any advice, feedback?

 

Thank you! Smiley Wink

Gardening since 2/2020

Starting Score: 598
Current Score: 701
Goal Score: 750


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beutiful5678
Frequent Contributor

Re: FedLoan GW Advice?

As a matter of law, no goodwill adjustments are made on federal student loans. I have them too and would love to get them removed but it's just not going to happen.



EX 8: Jun 2021 - 658 | EQ 8: Jun 2021 - 670 | TU 8: Jun 2021 - 675
EX 2: Jun 2021 - 682 | EQ 5: Jun 2021 - 701 | TU 4: Jun 2021 - 717
Message 2 of 4
dragontears
Valued Contributor

Re: FedLoan GW Advice?


@Sandals26 wrote:

Hi all! 

Happy Friday! Reaching out for some advice. I'm trying to goodwill a few late payments on my student loans. I was late 6 times (CRA show Jun - Dec 2016), but over 2 loans so a total of 12 lates. I finally obtained a copy of my retroactive forbearance letter from FedLoan. It states: 

 

Approved: Delinquency Forbearance 4/23/2016 - 10/02/2016

Approved: General Forbearance 10/03/2016 - 01/31/2017

 

My plan is to mail in a GW letter along with this forbearance letter to the CRAs. I'd like to get all removed or at least shoot for months Oct-Dec to be removed since those were under "general forbearance." 


Has anyone had success with GW lates with a similar letter? 
Any advice, feedback?

 

Thank you! Smiley Wink


1. Good will letters are sent to the lender NOT the CRA. The CRA are not able to do good will adjustments, they only keep the data the lender sends them, only the lender can change that data

2. Please prepare yourself to hear "no", the odds of getting a GW deletion from federal student loans is close to 0. 

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Message 3 of 4
calyx
Super Contributor

Re: FedLoan GW Advice?

As above - it's a matter of law not to goodwill (the HEA), however, some lenders have been known to do it.
I would STILL try to goodwill with the servicers and see what happens.   The worst is that you've wasted a few minutes and some stamps.

It could happen for you, it's just not very likely.

And yes, it's the servicers, not the CRAs.  The CRA just reports the data given to them by companies.   If you dispute with the CRA, they'll just ask the servicer "is this true?"  and report accordingly.



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