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Sallie Mae after BK

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Deltadog03
Established Contributor

Sallie Mae after BK

All my Sallie Mae Student loans are showing IIB on my CR, but I just got an updated statement from them, does that mean all of the negative flags, on my fico reports, will all be gone and start showing good? (paying on time)

EQ8: 646 EQ5: 652 V3.0: 665 **8/2015
TU8: 635 TU4: 700 V3.0 :663 **8/2015
EX8: 636 EX3: 670 V3.0: ? **8/2015
CCD Util 35%

Message 1 of 4
3 REPLIES 3
SCF
Valued Contributor

Re: Sallie Mae after BK

I would contact your bankruptcy attorney and ask how to proceed.  Student loans cannot be discharged in bankruptcy except under narrow and unusual circumstances, and it sounds like you did not attempt to include them since you are still paying them on time.  You may need to work with Sallie Mae to get the info updated, and your lawyer may be able to help you figure out what exactly to tell them to make it happen.

Message 2 of 4
Deltadog03
Established Contributor

Re: Sallie Mae after BK

Update:

 

I called Sallie Mae today and they told me that they update once a month (at the end of the month) to all the Credit Bureau's and that once a payment is made, which for me is 4/7/13 then they should all update from IIB back to Pays/Paid as Agreed and back to good standing.  I also confirmed that with Equifax (was on the phone with them for a seperate reason, but asked).  So, hopefully it will go back to good and paid as agreed and show balances again.  That is from Sallie Mae, so we shall see.....  Thank Yall!

EQ8: 646 EQ5: 652 V3.0: 665 **8/2015
TU8: 635 TU4: 700 V3.0 :663 **8/2015
EX8: 636 EX3: 670 V3.0: ? **8/2015
CCD Util 35%

Message 3 of 4
Deltadog03
Established Contributor

Re: Sallie Mae after BK

Bump.....

 

Sallie Mae has told me that they will report on the 8th of every month, and I just made my first payment after my BK....  ALL my (7 of them) show 0 balance and IIB...Obviously I know that they are not....So my question does anyone have exp with this, where they go from IIB and 0 balance to showing Pays as agreed??  Do they show up in new TL and the old get deleted?  Or do they just get updated and changed back from IIB to paid/pays as agree on my CR??

EQ8: 646 EQ5: 652 V3.0: 665 **8/2015
TU8: 635 TU4: 700 V3.0 :663 **8/2015
EX8: 636 EX3: 670 V3.0: ? **8/2015
CCD Util 35%

Message 4 of 4
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