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FedLoan Student Loan Late Payments

Ambherandr
New Member

FedLoan Student Loan Late Payments

Hello all. I started my journey to repair my credit a year ago and have made a lot of progress. The only thing holding me back are late payments for my Fedloan Student Loans. I have multiple and at one point, they were consolidated. However, I missed a few payments for one, in turn, those late payments are reflected for all of them. I have tried to dispute them but that ended up lowering my score since they update the comments. I am currently in school, so I am deferred for now. I have tried calling FedLoan directly but they haven't budged. 

 

I did speak with someone who repairs credit and they said they have been able to have the late payments removed, you just have to keep calling.

 

Has anyone had any success in removing late payments and if so, how did you go about it?



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4 REPLIES 4
thornback
Senior Contributor

Re: FedLoan Student Loan Late Payments


@Ambherandr wrote:

Hello all. I started my journey to repair my credit a year ago and have made a lot of progress. The only thing holding me back are late payments for my Fedloan Student Loans. I have multiple and at one point, they were consolidated. However, I missed a few payments for one, in turn, those late payments are reflected for all of them. I have tried to dispute them but that ended up lowering my score since they update the comments. I am currently in school, so I am deferred for now. I have tried calling FedLoan directly but they haven't budged. 

 

I did speak with someone who repairs credit and they said they have been able to have the late payments removed, you just have to keep calling.

 

Has anyone had any success in removing late payments and if so, how did you go about it?


Hi and welcome to the forums. 

 

For Federal Student Loans - unlikely.   Goodwill adjustment letters / requests don't usually work for federal student loans (due to HEA).  Those that have been able to remove late payments have done so for loans that have been paid off for a couple of years as HEA no longer applies at that point. 

 

Are the late payments on the old, closed tradelines (pre-consolidation) or the consolidated tradeline? 

 

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Message 2 of 5
Ambherandr
New Member

Re: FedLoan Student Loan Late Payments

Thanks for the info. There are late payments on both the pre-consolidated and the current ones. The most recent one is two years ago, but it still makes my credit look hideous 😩. I'm really hoping to get a house this fall.



Starting Score: 535
Current Score: 667
Goal Score: 750


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Message 3 of 5
thornback
Senior Contributor

Re: FedLoan Student Loan Late Payments


@Ambherandr wrote:

Thanks for the info. There are late payments on both the pre-consolidated and the current ones. The most recent one is two years ago, but it still makes my credit look hideous 😩. I'm really hoping to get a house this fall.


Maybe try to Goodwill the lates on the pre-consolidated loans?  It'd be worth a shot... you never know, you may be successful and a few less late notations would still be an improvement... even if the more recent ones remain.

Personal Aphorism:"Forget What You Feel, Remember What You Deserve"
Starting FICO 8s | 09/2017: EX 641 ✦ EQ 634 ✦ TU 647
Current FICO 8s | 04/2022: EX 796 ✦ EQ 793 ✦ TU 790
Current FICO 9s | 04/2022: EX 790 ✦ EQ 788 ✦ TU 782
2022 Goal Score | 800s

My AAoA:
4.6 years not incl. AU / 4.9 years incl. AU
My AoOA: 9.2 years not incl. AU / 11.2 years incl. AU
Inquiries: EX 0/12 ✦ EQ 0/12 ✦ TU 0/12
Report Status: Clean
Garden Status:  


Without patience, we will learn less in life. We will see less. We will feel less. We will hear less. Ironically, rush and more usually mean less.
Message 4 of 5
calyx
Super Contributor

Re: FedLoan Student Loan Late Payments

You definitely don't want to dispute accurate data - it does refresh the data (lowering score) and it can lead to being labeled as someone who disputes frivolously.

 

According to the HEA, they should not be deleting those lates.   They'll come off at 7y. 
Since they are closed lines, I think the best you could hope for is to have the entire lines removed from your credit report (not just the lates) if you went the goodwill route.   And I would never dissuade anyone from trying to get goodwill removals, but FedLoan/PHEAA is not known for budging.

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Message 5 of 5
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