Good job. If you were in the federal student loan rehab program during the pandemic, no collection actions and credit reporting took place. Therefore, there should be no derogatory marks on your credit report doing this time, whether you made payments or not.
Congrats on the house.
Yes, all 3 credit bureaus have since updated.
My FICO credit is now 111 points higher.
Went from 566 in May to now a 677.
Again, my credit file is super thin so any changes causes big swings in my scores. Other than the student loans, I only have 1 car and 1 credit card. Once we close on our house, I plan to add on more accounts slowly to builder a bigger credit file.
That's correct. But once you graduate rehab, those accounts get updated to current status and remove the derogatory flag. Once that happened my credit skyrocketed 111 points within a month.
Gotcha. I've really appreciated your updates as my rehab timeline is about 13 days behind yours.
Crazy your TL was so soon. I made my final payment in July and no change has been made on my credit. I haven't received anything in the mail as far as a welcome packet either. FH Cann is who I did my rehab through.
@buybi were they federal student loans or private?
I called all 4 parties every other day after I made my last rehab payment letting them know it was urgent I had my information updated ASAP as we are in processing of closing on a house.
1. Coasthills Prof (collection agency I went under rehab program with)
2. Myeddebt (portal used to track default balances/payment)
3. Studentaid (main portal to track all student loans)
4. Great Lakes (new loan servicer)
Like I said, everytime one of them would cast blame on another and the process wasn't very clear, so it may not have gotten me answers but it may have sped up their processing time. IDK. Hopefully the timeline I provided will give you an idea on the order of milestones.