Student Loan 90 Day Lates

[dbjohnson039]

Hi All,

A little about my situation -- I have student loans from two servicers (currently FedLoan and Navient) -- I am in Public Service BUT also in deferment as im still trying to get through my final batch of classes to grab that degree (Trust me I might even do a song and dance when it's all done). Back in 2017, before I went back to finish, I made a dumb mistake and allowed my multiple FedLoan accounts to pile up into a 90 day late situation before I finally took action and sought deferment to fix it. Well obviously it fixed things retroactively but I'm sure my credit scores are still feeling the wrath. My question is will those 90 day lates be removed after seven years or is there anything I can do to work them off earlier? I did try to argue before that FedLoan approved a retroactive deference but that did nothing to help.

I want to say this was totally my error and I accept full responsibility for my ignorance and mistake especially after filing Ch7 in 2015. I have since applied to begin PSLF but because I'm an in school deferment situation, nothing will be applied until I start making payments. I did go ahead and make sure all of my accounts were eligible for deferment and applied for income driven repayment but again....in school deferment is pushing that off.

I should have done much more before now but I know I need to rip the bandaid off and try to get things under control so your thoughts and expertise would be graciously appreciated.

Thanks in advance!

[Adkins]

My question is will those 90 day lates be removed after seven years

Yes. You can ask for early exclusion from TU and EX. I wouldn't bother EQ though.

or is there anything I can do to work them off earlier?

No, unfortunately.

I did try to argue before that FedLoan approved a retroactive deference but that did nothing to help.

Yeah, they aren't inclined to remove the lates. I've tried for mine, too. 

I screwed up years ago, and I actually don't even remember what happened. 🤷🤦🤦 My 90 lates are due to age off next year, and I'll be asking for early exclusions when I can (usually 3-6 months out). I'd just keep going as you are and just be patient, they won't be there forever! 

[calyx]

Retroactive forebearance doesn't remove the reported lates.  Some people have tried using that route with the CRAs, but it rarely works.

They'll age off at 7y.    The CRAs also don't usually EE for lates, so I would just wait and let them age off, rather than temp fate.   TU would be the safest to try with (at 6months early0, but EQ and EX can get weird if you attempt.

[dbjohnson039]

Yeah I don't know how on earth I let myself screw up and end up in a 90 day late situation but since it happened on my watch, I have no one to blame but myself. I am trying to practice some patience but I hate seeing it staring me in the face each time I look at my credit report. 😔 - Basically I will need to wait until June 2024 - it just seems like forever from now. 😂

[calyx]

I've been in the situation of staring down a credit report for time, so I totally get you.   The good news is how excited you'll feel when those age up and you get the huge boost!  

[iced]

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@dbjohnson039 wrote:

Hi All,

A little about my situation -- I have student loans from two servicers (currently FedLoan and Navient) -- I am in Public Service BUT also in deferment as im still trying to get through my final batch of classes to grab that degree (Trust me I might even do a song and dance when it's all done). Back in 2017, before I went back to finish, I made a dumb mistake and allowed my multiple FedLoan accounts to pile up into a 90 day late situation before I finally took action and sought deferment to fix it. Well obviously it fixed things retroactively but I'm sure my credit scores are still feeling the wrath. My question is will those 90 day lates be removed after seven years or is there anything I can do to work them off earlier? I did try to argue before that FedLoan approved a retroactive deference but that did nothing to help.

I want to say this was totally my error and I accept full responsibility for my ignorance and mistake especially after filing Ch7 in 2015. I have since applied to begin PSLF but because I'm an in school deferment situation, nothing will be applied until I start making payments. I did go ahead and make sure all of my accounts were eligible for deferment and applied for income driven repayment but again....in school deferment is pushing that off.

I should have done much more before now but I know I need to rip the bandaid off and try to get things under control so your thoughts and expertise would be graciously appreciated.

Thanks in advance!

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I can't speak for FedLoan, but my Navient lates (also 90 day) stayed the full 7 years. Even after paying off the loans early, Navient would not agree to delete from my report. They did go away after 7 years (from first delinquent).