Student Loan Rehab

Anonymous · ‎05-23-2019

I completed my SL rehab and ALL 6 accounts were completely removed from report, (2 on each bureau), which is AWESOME! My question is..... Navient is the new lender. My paperwork for new loans say that the disbursement date is 3/2014. Does this mean that when the new loans post that the AAOA, will reflect 5 years payment history in good standing and on time? Thanks in advance!

Queen_Etherea · ‎05-23-2019

In my personal experience, no. I rehabbed 1 of my student loans with Navient as well and when I look at my reports, it only shows good payment history from when I started the rehab. I'm actually surprised because I KNOW I missed some payments with them at first, but it shows "no data" for those 2 months and I have no late payments from it.

Wait... actually the age of the account DOES transfer over! Navient is listed as my oldest account (2006 - 12 years, 5 months) and I only rehabbed it a few years ago. However, I can only see payment history from the past 2 years, so I assumed the payment history wasn't affected.

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.

Wells Fargo Platinum: 3/17 : $1,900 (Unsecured 12/1/2018 w/CLI)

American Express Blue Cash Everyday: 9/18 : $2,000

American Express Blue Cash Preferred: 12/18 : $10,000

American Express Everyday Preferred: 1/19 : CLOSED

PayPal MC 2% : 09/18 : Closed by Synchony

PenFed Power Cash Rewards : 10/18 : (Merged with Gold) $16,000

Synchrony – Amazon Prime Store Card : 9/18 : Closed by Synchrony

Synchrony – PayPal Credit : Closed by Synchrony

Comenity – Ulta Beauty Store Card : 3/19 : $5,000

Comenity – Express Next Store Card : $5,000 [AU]

Goldman Sachs – Apple Card : 08/19 : $15,000

Wells Fargo PLOC: 3/19 : PAID OFF $5,000

Honda Financial Services : 10/18 : $15K 7.35%

Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)

Anonymous · ‎05-23-2019

Awesome! Congrats! So basically it goes back to a positive account going back to disbursement date, but payment history starts from date of new tradeline?

Anonymous · ‎05-23-2019

Federal student Loans typically only report lates once they are 90 days late or more. It can work in your favor if you get back on track before then.

I would say wait a few months after and see how things look after they settle. Each servicer seems to have their own way of doing things. I might look through some old rehab posts. When mine were similarly transferred, it didn't show the past payment history. Hopefully the old account stays off your reports and the new tradelines don't show your lates.

Anonymous · ‎05-23-2019

Well it's a new servicer, so I wouldn't think they would be able to report any negative. My old defaulted loans went as follows.... Sallie May - US Department of Education - Alltran. The 2 negative defaulted loans on each report were 120 days late each, and read as collections through US Department of Education. Those all completely came off. Navient is new and not reported yet.