Is this true??????????

[tasha27]

I recently paid off my student loans with ECMC.  Last week they sent me a letter in the mail stating that negative infomation under law is to continue to stay on my CR seven years after the date that I paid them off.  I thought negative information is supposed to stay 7-7.5 yrs after the DOFD.  Is it different for student loans?

[LynnInMN]

It reports for 7 years from the time the default claim was paid....so the date that ECMC took over the account.  DOFD has no relevance in student loan reporting.

Message Edited by LynnInMN on 04-04-2009 09:07 AM

[PayingTheBills]

I have 6 student loans from Nelnet that went into default.  I graduated 04/06 and the DOFD listed on my Equifax report is 12/06.

Experian report says these accounts are "scheduled to continue on record until Sep 2013" which isn't even 7 full years from the DOFD.

[Anonymous]

You made a huge mistake that the loan people that so willingly that gave you a loan to pay your deafult won't tell you.

First, even if a loan is in default you can rehabilitate it. A rehabilitated loan will not show up on your report if you rehabilitate and then consolidate it after the rehab period or pay it off. It seems you just consolidated or took another loan to payit off..HUGE MISTAKE!

Second, if it was not a loan able to rehabilitated then you should have told and got it in writing that you will pay off the default loan if they will remove it from your report. People do this all the time and companies agree to it for all kinds of collection debts. They wnat their money and are really less concerned about your FICO score, while you should be concerned about your FICO score as priority one.

[PayingTheBills]

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@Anonymous wrote:

First, even if a loan is in default you can rehabilitate it. A rehabilitated loan will not show up on your report if you rehabilitate and then consolidate it after the rehab period or pay it off. 

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So, since I've rehabilitated my loans, if I consolidate them, Nelnet will delete the 6 negative TL's on my CR?

That doesn't sound right.

Right now I have 6 negative TL's on my CR from Nelnet and 6 positive TL's from Sallie Mae for the same loans.

My Nelnet loans are reporting as 120+ late (closed on TU and EX, open on EQ), and my Salllie Mae loans are reporting as "current/paying as agreed."