Student Loans 120 Day late

[Zetoclan4]

Like many of you, I had my loans in deferrement until the beginning of the year, I was able to call them and get it reestablished but the lates are still showing on my credit report for 120 days late. I didnt realize it until I started to pull my credit to prepare for a mortgage next year and these lates DESTROYED my credit. What can I do? Could I reach out to them about a good will update? They are all federal loans. 

[Patient957]

Federal student loans aren't eligible for goodwill until they are fully paid off, and even then YMMV.  I had success with Nelnet/Sloan once my loan had been PIF for 6 months.

Who is the loan servicer and how long do you have left until the loans are PIF?

[JoeRockhead]

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@Zetoclan4 wrote:

Like many of you, I had my loans in deferrement until the beginning of the year, I was able to call them and get it reestablished but the lates are still showing on my credit report for 120 days late. I didnt realize it until I started to pull my credit to prepare for a mortgage next year and these lates DESTROYED my credit. What can I do? Could I reach out to them about a good will update? They are all federal loans. 

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If the late payments are accurate, the only option you have is to contact the loan servicer and ask for a goodwill adjustment to their reporting.  Federal loan servicers are not known to be very accommodating with goodwill deletion requests.  If you had extenuating circumstances that led to the late payments, it might be worth it to politely ask for goodwill consideration while conveying your circumstances, past, present and future.

I would also caution you in regards to disputing the late payments with the credit bureaus.  Disputing accurate information has proved time and again to have unwanted consequences. 

[Zetoclan4]

they are with the same group but I am not in a place I can pay them off right now. I guess I will have to let the late marks stand and hope that with time it falls off. 

[Realist]

I'm sorry to be the bearer of bad news, but this will have to be chalked up be an expensive lesson in life.

Everything you do matters, whether you decide to take a federal student loan, versus a private student loan.  Both are not the same.  Additionally, student loans are usually the one loan type that doesn't discharge through bankruptcy (think federal), so they are the least likely loans in life you ever want to miss payment on no matter what.  There are so many ways to destroy your credit by alternating the terms, or payments from the original agreed upon arrangement.

Get current, keep current.  Don't let any payment go late again.