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My Student Loan Rehab Success Story

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Established Member

Re: My Student Loan Rehab Success Story

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

Message 21 of 27
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Established Member

Re: My Student Loan Rehab Success Story

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

Message 22 of 27
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Regular Contributor

Re: My Student Loan Rehab Success Story

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. 




Message 23 of 27
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Regular Contributor

Re: My Student Loan Rehab Success Story

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. 




Message 24 of 27
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Contributor

Re: My Student Loan Rehab Success Story

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!!!!!!


FICO8
April 2020 EQ 541 TU 575 EXP 545
Sept 2020 EQ 627 TU 651 EXP 629
Goal Score 800
GARDENING until 6/20/2021
Message 25 of 27
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Regular Contributor

Re: My Student Loan Rehab Success Story

@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. 




Message 26 of 27
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Contributor

Re: My Student Loan Rehab Success Story


@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. 


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.


FICO8
April 2020 EQ 541 TU 575 EXP 545
Sept 2020 EQ 627 TU 651 EXP 629
Goal Score 800
GARDENING until 6/20/2021
Message 27 of 27
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