PHEAA/AES

[CreditJunkie917]

I have two SL that are currently in rehab. 3 total. The two I want to focus on and have questions about are my PHEAA/AES loans. They total $7800. PHEAA/AES were the OC and Account Control Tech. currently hold the collection duplicates that are being reported on my credit reports. My question is when my 9 month period of rehabbing is up, will they take on the loan again and be the provider? Or will another bank pick them up? Along with a couple of CO's that I'm disputing, my report is really clean. I'm just looking for some fidelity as to what I can expect later on this year. Also, my credit reports are noting that they will also fall off Aug of this year. Because I'm rehabbing, will that be updated or will they stay on. My understanding is that the DOFD is 6yrs 9mo, which would be right on par with the rehab.

[Anonymous]

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@CreditJunkie917 wrote:

I have two SL that are currently in rehab. 3 total. The two I want to focus on and have questions about are my PHEAA/AES loans. They total $7800. PHEAA/AES were the OC and Account Control Tech. currently hold the collection duplicates that are being reported on my credit reports. My question is when my 9 month period of rehabbing is up, will they take on the loan again and be the provider? Or will another bank pick them up? Along with a couple of CO's that I'm disputing, my report is really clean. I'm just looking for some fidelity as to what I can expect later on this year. Also, my credit reports are noting that they will also fall off Aug of this year. Because I'm rehabbing, will that be updated or will they stay on. My understanding is that the DOFD is 6yrs 9mo, which would be right on par with the rehab.

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I can't say for sure but here's my experience YMMV

I had 2 SLs through PHEAA/AES. I rehabbed through the CA which was Account Control. The original TLs for my loans were showing 11 straight months of 120 days late, closed, $0 balance. There were 2 additional TLs (duplicates) listed as collection accounts, still PHEAA/AES. I called AES during rehab to ask some questions and I was told by the default department that I would most likely stay with PHEAA/AES after rehab, that I would just go from the default department to regular customer service and Account Control would be out of the picture. That is exactly what happened. About 3 weeks after my 9th payment I got a letter from PHEAA/AES congratulating me on completing rehab. The collection account TLs were removed from my CR at the same time. My 9th payment was 3/15. It took awhile for my information to be updated on the AES website so I actually got a month off. My first payment post rehab is due to AES 5/15. There has been no further update to my CR. I called AES to ask what I can expect and when but the rep had no clue. He just kept telling me that the lates will not be removed. OK, I get it. But I'm curious if they are going to start new TLs for the loans or just update to the old ones. I defaulted in 5/2008 and there has been no change or activity on the account/TL since. So I'm anxiously waiting to see what is going to happen. 

Call AES. Just make sure you speak to the default department and make sure they understand that you know who is handling your account and you are in the process of rehab. A few times I tried to call in the beginning, they kept brushing me off and redirecting me to Account Control. I finally got the idea that as long as I explain that I am rehabbing through Account Control but I have some questions for AES about rehab and what to expect post rehab, they are willing to listen and help.

[Anonymous]

Also, check NSLDS (if you haven't already) see who is listed holding your loans. That should give you an idea. 

[CreditJunkie917]

Thanks. I really appreciate it. Sounds good!!