Good Afternoon Ladies & Gentlemen,
This is for everyone considering Student Loan Rehab or they are already doing it and wondering about the future! I feel so blessed right now! I just received notice that my Experian FICO score has increased 88 points! It increased from 560 to 648. I have been moved up from "Poor" to "Fair" status! I did not have to dispute anything! Allow me to write this in bullet points as that's how I read best when searching through forums:
- I Had 6 Defaulted Student Loans Showing As Negative, Not-In-Good-Standing Accounts
- I Entered The Rehab Program With National Recoveries Inc.
- I Made 9 Consecutive Payments, During Which Time The Negative Items Changed To Closed Accounts. To Me, This Period Felt Like Such A Long Amount Of Time! And It Is! But Keep Faith, This Story Has A Great Ending, And Hopefully Yours Does Too!
- December 10th, 2018 Was My Last Payment
- I Called National Recoveries, US Dept Of Ed, And Navient To Verify I Was Finished And My Loans Were Transferred To Navient
- I Was Able To Create An Account On Navient's Website Immediately And See All My Loan Information
- Navient Confirmed That They Automatically Allow The Same Low Monththly Payment For The First Month Or Two, And Then At Which Point It Will Be Going Up To A More Normal Loan Payment
- Navient Or US Dept Of Ed (Can't Remember Specifically Which) Told Me The Old Negative Accounts On My Credit Report Will Be Automatically Removed And The New Good Standing Ones Will Show Up, And If They Don't Get Removed, That I Simply Need To Request Their Department's Version Of Their Credit Dispute Removal Form And Send It To The Bureaus
- There Was A Brief Period Of A Couple Weeks Where My Credit Report Showed Both The New (Positive) Loans And The Old (Negative) Loans, Which Created A Short-Term FICO Score Decrease
- Today, On January 12th, 2019, My Experian.com FICO Score/Report (Which I'm Using Temporarily Because I Froze My MyFico.com Account Until February To Save A Little Money) Received Notification That My FICO Score Increased 88 Points. The Report No Longer Shows My Defaulted Student Loans! It Only Shows The New Good Standing Loans!
- My Experian.com Account Hadn't Updated When My Report Had Both The Positive And Negative Loans, So In Net Effect, Without Any Fluctuation, The 6 Negative Loans Fell Off, And The 6 Positive Loans Shows Up, And My FICO Score Increased 88 Points From 560 To 648!
I am very happily surprised that, not only did I NOT HAVE TO DISPUTE THE OLD NEGATIVE LOANS, but that THEY WERE REMOVED IN A TIMELY MANNER, WITHIN ABOUT A MONTH! I wish these same results happen to everyone else!
Once My MyFico.com Unfreezes Next Month (February), I Will Post An Update With My MyFico.com Official Scores & Reports!