No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Ok as I think I am fully rehabbed I will make this post my last in this thread, and hope it inspires some. Here is the short on my student loan rehab with great lakes higher ed:
started with:555 tu, 563 ex, 549 eq
was on rehab filed bk Jan. 2012, didn't know that would halt rehab.
Rehab picked back up may 2012, they graciously let me start the 9 mos over again.
Started credit clean up may 2012
completed last payment on rehab Feb. 2013. Loan picked up right away great lakes is still servicer, now lender is sun trust was key bank at default
did some hard core clean up (online disputes) in march as well expecting I could understand it better after loans cleared up
today, 5/12/2013
685 TU, 684 ex, 687 eq
on my way. Just apped Barclay got the 0 balance transfer and 0 yearly fee with a decent limit and poised for 720 and a mortgage April 29th 2014.....but whose counting.
this thread is a wealth of hope and I hope and wish you all the best
Thanks for all of your sharing on the thread and great luck ahead! Indeed you're on your way. This is complicated and painful stuff...so now that you're done with it, I suspect that you will be enjoying some better peace of mind, so enjoy and move forward
@MaddMatter70 wrote:Ok as I think I am fully rehabbed I will make this post my last in this thread, and hope it inspires some. Here is the short on my student loan rehab with great lakes higher ed:
started with:555 tu, 563 ex, 549 eq
was on rehab filed bk Jan. 2012, didn't know that would halt rehab.
Rehab picked back up may 2012, they graciously let me start the 9 mos over again.
Started credit clean up may 2012
completed last payment on rehab Feb. 2013. Loan picked up right away great lakes is still servicer, now lender is sun trust was key bank at default
did some hard core clean up (online disputes) in march as well expecting I could understand it better after loans cleared up
today, 5/12/2013
685 TU, 684 ex, 687 eq
on my way. Just apped Barclay got the 0 balance transfer and 0 yearly fee with a decent limit and poised for 720 and a mortgage April 29th 2014.....but whose counting.
this thread is a wealth of hope and I hope and wish you all the best
Update:
So I called the dept of education on Friday because nothing had updated on my account. I was informed that even though my last payment was on March 30, that since FedLoan didn't pick up my loan until April 1st that they hadn't updated the credit bureaus until May 1st. Funny enough, the next day all of my Dep of Educations dropped off my report. I got a 63 point increase. Now I'm waiting on FedLoan to update their information because as long as they are showing default, I cannot get a home loan. I plan on giving them a call today.
Ak19,
Not sure about GRC or how they do things. In my case, the Dept of Ed updated everything right away. In fact, they sent the updated info 5 days after I paid my last rehab payment. Sallie Mae won't help you in this regard. They will simply create new tradelines for you for your account with them. Most places report at the end of the month to the CRA's. What you could do is ask GRC to fax you the same data they send to the CRA's and have your lender do a rapid re-score. However, that could take up to 14 days being there is such a high volume right now.
60 and 90 days is too long. It will update faster than that. Most updates are published on the 9th or 10th of each month.
A letter saying you completed rehab will do nothing from the lender point of view. They need to see no collections on the credit report. Just call CRG again and confirm info. Ask to talk to a supervisor. How much in a hurry are you? Is the default the only bad thing on your report? If so, you should expect a 40-50 point score increase. You need a 640 (middle score) to get a FHA or USDA loan.
If you haven't, sign up for score watch on myFico. Great info there and that score will match the score your lender pulls for EQ. Lenders use Beacon 5 and that is what is ued here. Good luck!!
Cardsman,
Are you showing "default" on the CC for FedLoan Servicing or does it say "permantly assingned to govt; claim filed with government"? Cause if literally doesn't show the word "default" than FedLoan servicing won't help you at all, they don't remove the other wording even though it clearly means default. I had to contact ombudsman office and I have case worker who is looking into it to get it removed because even she says that is history of default that should be removed but FedLoan Servicing isn't complying to my requests. If your says what mine says FedLoans will not help you, don't waste your time and go directly to ombudsman.
I initiated a dispute after two end of month closing dates. Figured since the new loan was already reporting something had to give. The collection account TLs were deleted on Experian and I think Equifax too since I got a point bump. I initiated a dispute with TransUnion but they were reporting in a different way so I disputed all three of the TLs that were reporting so fingers crossed.
Ak19,
If that's the only badie, then you should get a good jump. The new tradeline created will help with the score too. If you don't get the huge jump you need, you will still be very close and in a month or two after that, you will be there. Just keep calling. The squeeky wheel gets the oil.
If 599 is your middle score, then I assume you will jump enough. My EQ jumped 52 points when the 4 "in collection" tradelines were deleted. This time next year I will be in the 700 club!!!!
If all goes well, I will close on the house at the end of next month!!!!!!!
@Ak19 wrote:
Help please!?
I completed rehabbing my student loans (4 tradelines) with General Revenue Corp. at the end of April. Sallie Mae is my new lender-which I found out thanks to this board. I contacted them and got my 1st payment in right away so it will be recorded for May instead of June. I spoke with GRC and they told me that it would take 30-60 days to update the credit reports and gave me a post-claims phone # to call that would be able to answer my questions as to dates. This is what i've been told by post-claims. They have not sent up the info to the credit agencies. They told me they send up info at the end of the month. I asked what date they received my info and it was May 2. I asked if that meant it would be reported at the end of May and she said not necessarily. They take up to 90 days to send the info to the CRA. I have the paperwork from GRC stating it would be reflected within 60 days. Who do I talk to about this GRC? Sallie Mae? They also aren't able to give me a letter saying I completed the rehab (either company) and I am waiting on this to clear so I can get per-approved for a mortgage. I need the points and the default status gone. This is my last big baddie and has been the most frustrating one! I was figuring 30-60 days, but 90?!?!?! Thank you for any advice (and for reading this rant!)
Hi Ak... First, yeah, I've read about that 90-day maximum timeframe for reporting the new tradeliens/loans. But I'm wondering who your servicer is because I think many times it's the servicer, not the new lender who does the credit reporting. You got the servicer who collects payments, deals with deferments, and who usually does the credit reporting, all on behalf of the lender. Then you got the guarantor...the place who pays the lender in case of default. Many times the guarantor is the same as the servicer....guarantor is probably never the lender. So Sallie May probably aren't the ones to talk to....sounds like GRC has remained your servicer and they are most likely the ones who will be doing the reporting. Just my thoughts. This stuff is a huge web of multiple players...we gotta first figure out what's what and get the facts. Phew.