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Rehab Agreement HELP

Senior Contributor

Re: Rehab Agreement HELP

@Marie8880 wrote:

@LaHossBoss wrote:

@Marie8880 well if only US Dept of ED is reporting, which should be reporting "CO" every month (which is not a new late, as "CO" is not a late), those should be deleted. If you already got the original loans removed, then you will have no lates, because you currently have no lates. What you have is a delinquency (different than a late, crazy, I know!) reporting every month because they are being updated monthly, so they keep your scores depressed with every update.


So, yes, if the original loans are gone, the US Dept of ED collection accounts will be removed entirely.


I hope that is a little clearer, but still about as clear as mud, I am sure. The intricacies are mind numbing!


Having *all* my defaulred SLs removed and new one's reporting gave my score an overall boost of 100+ pts, but I had much lower scores than yours, to start. It will be piecemeal, depending on a few factors like, were the SLs your oldest accounts or do you have older accounts? The increase of age of accounts was worth a tremendous amount of points once they started reporting, and the fact that I had zero open installment loans, so that helped there, too. Then losing the last default mark was also worth a boat load more points (70pts, in my case) bringing me over the 700 mark, finally, and only remaining baddies are 3 x collection accounts! So I feel strongly that I will have excellent scores once those collections are dead and gone by year's end!


It will defeintely be credit profile dependent, but wait until every thing is sadi and done (not only defaults being removed, but SLs reporting again) to see where you really stand because it can be an emotional roller-coaster watch the scores go up and down with each change the SL servicers make!


I am still waiting for the end result of my SO's SLs coming out of rehab and reporting (still only on 2 of 3 bureaus and only 1 set of loans, none from FedLoan, yet - again, rehab finished in Dec/Jan, depending who you ask). He saw a good boost too, but still has a couple baddies we are waiting out/working on, so no final result.


Good luck and please keep us posted on what happens because it will probably help other's in this situation currently or in the future!

yes you are correct it is reporting as a "CO" each month which seems like a late payment bc when I log on to my Experian account is falls under the "accounts ever late" category which is frustrating since I am technically making the required payment each month. But from what I understand you get 0 credit for the rehabilitation payments only credit once the process is completed


that is amazing you saw 100+ point increase!


I am not anticipating a credit boost that high I learned early on when I started repairing my credit not to get my hopes up! but I am looking forward to having the negative marks removed since this is the only delinquency on my credit profile. even with a decent credit score I get denied credit simply because I have had this negative account.

this account is not my oldest and I do have one other installment account on my profile.


do you know what the date opened is once the loan is transferred out to a different servicer?

does the loan go back to the original open date in my case 2012 or will it show an open date of when it was transferred which would be 2021?

curious what happened in your case.




Should be "opened" from when the loan was originally disbursed. Unless you consolidated, then it would be this year, but since you rehabbed, it should be backdated to the original date.

Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 4•21 | EQ [F8 651] [F9 651] [EQ5 684] [VS3 630] | TU [F8 717] [F9 692] [TU4 723] [VS3 639] | EX [F8 718] [F9 673] [EX2 681] [VS3 675]
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SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 4•21 | EQ [F8 661] [F9 622] [EQ5 677] [VS3 646] | TU [F8 705] [F9 673] [TU4 639] [VS3 627] [VS4 666] | EX [F8 719] [F9 708] [EX2 679] [VS3 665]
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Message 11 of 12
Established Member

Re: Rehab Agreement HELP

just a little update....

I successfully rehabbed my student loans and was patiently waiting for my credit reports to update and today was THE DAY!

my scores went up over 100 points so now I am over 800 with each of the credit bureaus!!!

The student loan tradline is still showing with the same open date of 2012 but all of the negative collection remarks are gone.


I just want everyone to know that this is a process that is worth it! i have worked so hard on my credit for a solid year and when I began my journey I had a score of 545. After cleaning up my credit reports and then rehabilitating my student loan I am over 800. 


If you are in the thick of this be patient and keep the end goal in mind!

Message 12 of 12
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