My Student Loan Rehab Success Story

[Anonymous]

Congratulations! Glad you're doing well. Take care.

[Anonymous]

Very awesome, stay the course, see you on the other side.

[quikj9]

My timeline is as follows:

8/26-  Final rehab payment made thanks to CARES Act

9/9- Loans transferred to Great Lakes

9/14- US Dept of ED collection accounts are removed from my credit reports

Still waiting for my now current student loans to start reporting to the CRAs. Anyone have any information on when I should expect that to happen? I don't have any current installment loans on my reports and these student loans are my oldest accounts at ~7 years old, so I'm hoping for a bit of a score boost. 

[quikj9]

I guess I just needed to wait one more day. How's that for timing?

10/8- Great Lakes reports my backdated current loan to Experian

EX got bumped up 11 points from 634 to 645. 

[SedimentaryRock]

Nice! So between having the missed payments removed due to the rehab, is this 11 points the total bump you got from rehabing your loans. Congratulations!!!!!!

[quikj9]

@SedimentaryRock I think the 11 points is just from satisfying my credit mix and increasing my average age of open accounts. Since I've completed rehab my scores have gone up nearly 60 points on EX, from a 586 to a 645.

EQ and TU still show the old closed Fedloan accounts including the lates, but EX does not. None show the Dept of ED collection accounts. I'm just gonna count my blessings that EX is the bureau I got lucky with and move forward. 

[SedimentaryRock]

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@quikj9 wrote:

@SedimentaryRock I think the 11 points is just from satisfying my credit mix and increasing my average age of open accounts. Since I've completed rehab my scores have gone up nearly 60 points on EX, from a 586 to a 645.

EQ and TU still show the old closed Fedloan accounts including the lates, but EX does not. None show the Dept of ED collection accounts. I'm just gonna count my blessings that EX is the bureau I got lucky with and move forward. 

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Got it. Thanks. Well, yeah good work and just move forward. You reminded that I'll have one Old, closed one too with the lates but oh well. I'll be happy to have the rest resolved and my credit issues behind me after my last rehab payment in February.