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Fedloan lates removal?

Frequent Contributor

Fedloan lates removal?

Has anyone ever had any luck getting lates removed on fedloan via goodwill letter or any other method?

As of 6/30/2017 - EQ:598 TU:589 EX:645 GOAL:750 All around the board
In the Garden since 12/16/2016~ Gardening until 7/1/2018

"You will receive better cards as your profile improves and any baddies fall off. It's just a process like climbing stairs. As your profile improves, you are able to go to the next level of cards. - baller4life
5 REPLIES
Established Contributor

Re: Fedloan lates removal?

Some have, but others have not.  This is definitely a YMMV situation.

 

Here are a couple of suggestions.  Were the lates during a period where you may have been in school and there should have been a deferment?  Did they happen during a period that may qualify you for a forebearance, i.e. lost job, collection financial assistance from the state, etc?  These may be some options that if true, could help get the late removed as no payment would have been due during that time.

 

If it doesn't fall into the deferment or forebearance category, I would still try the goodwill letter.  The only thing they can do is say no, and you are no worse off than you are now.  But don't be discouraged.  While the late will hurt for a little while, it will continue to impact your score less and less as it ages and is replaced with an ontime payment history.


Starting Score: Eq: 662 Tu: 532 (03/02/2011) CH7BK 01/12/2009 Discharge
Current Score: Eq: 712 (02/03/2017) Tu: 717 (04/03/2013)
Goal Score: Eq: 760 Tu: 760

Wallet: PenFed Power Cash 25k | AMEX Blue Cash (AU) 49.5k | Cap One QSMC 26.5k | AMEX Platinum NPSL | LFCU Visa 10k
Message 2 of 6
Frequent Contributor

Re: Fedloan lates removal?

Thank you!!. ill keep trying. I think I will try the Saturation Method and see how that works for me

As of 6/30/2017 - EQ:598 TU:589 EX:645 GOAL:750 All around the board
In the Garden since 12/16/2016~ Gardening until 7/1/2018

"You will receive better cards as your profile improves and any baddies fall off. It's just a process like climbing stairs. As your profile improves, you are able to go to the next level of cards. - baller4life
Message 3 of 6
Frequent Contributor

Re: Fedloan lates removal?


Tazman81 wrote:

Some have, but others have not.  This is definitely a YMMV situation.

 

Here are a couple of suggestions.  Were the lates during a period where you may have been in school and there should have been a deferment?  Did they happen during a period that may qualify you for a forebearance, i.e. lost job, collection financial assistance from the state, etc?  These may be some options that if true, could help get the late removed as no payment would have been due during that time.

 

If it doesn't fall into the deferment or forebearance category, I would still try the goodwill letter.  The only thing they can do is say no, and you are no worse off than you are now.  But don't be discouraged.  While the late will hurt for a little while, it will continue to impact your score less and less as it ages and is replaced with an ontime payment history.



Thank you!!. ill keep trying. I think I will try the Saturation Method and see how that works for me

As of 6/30/2017 - EQ:598 TU:589 EX:645 GOAL:750 All around the board
In the Garden since 12/16/2016~ Gardening until 7/1/2018

"You will receive better cards as your profile improves and any baddies fall off. It's just a process like climbing stairs. As your profile improves, you are able to go to the next level of cards. - baller4life
Message 4 of 6
New Member

Re: Fedloan lates removal?

Hey! 

 

Have you had any luck since then? I am starting the process and any advice would be awesome! 

 

Good luck Smiley Happy 

Message 5 of 6
Frequent Contributor

Re: Fedloan lates removal?

If Navient or Sallie Mae service the loans they are pretty forgiving after 12 on time payments. You just have to get the right person on the phone or by GW'ing them. I talked to someone when I was fixing my credit and 12 months later after paying on time, they followed through and removed the negative months from my credit reports. Blank months are better than bad months. 

 

@misterdarci


Starting Score-(01/2017): FICO ||EX:575--EQ:549--TU:588||
Current Score--(04/2018): FICO ||EX:686--EQ:697--TU:715||




Message 6 of 6