Suspected CR Error Concerning Lates...PLEASE HELP!

[Anonymous]

That's (partially) good news Yelikb! lol  I'm surprised you got that worked out over the phone. 

I will add this though, it takes more than 4 years for lates to drop off your credit reports. It's somewhere between 7-7.5 years.

Maybe a GW wouldn't be bad idea in the leadup to your mortgage search?

Best of luck moving forward!

[Anonymous]

Lates fall off at 7 years. However I have read from several internet sources the impact on scores drop significantly at 4 years. Not sure if it's true.

Good luck.

[InvincibleSummer3]

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@Anonymous wrote:

Lates fall off at 7 years. However I have read from several internet sources the impact on scores drop significantly at 4 years. Not sure if it's true.

Good luck.

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That is true, and a good point. Something I hadn't thought of, too: the longer the late, the more it dings your score. A 60 day late is more detrimental to a FICO score than a 30 day, for example. So it seems like even trying to get that timeline figured out might help somewhat. Maybe not a gigantic increase but still. A good score is worth fighting for, to paraphrase that song from Mulan

[Anonymous]

I wanted to update everyone here that I was able to get Fedloan to remove the negative credit reporting!!! I got this emailed to me last week:

"Our records indicate a request was submitted January 30, 2017 to review the negative credit reporting on your account , for May and June of 2013. After further review, the negative credit reporting for May and June of 2013 has been removed and now reflects as current."

RECAP:

After finally realizing (years later) this was on my CRs and how much it was effecting my scores, I started looking into it. I recalled sending in a deferement request around May 2013 and it being a run around for months to be approved. I don't think this would've worked w/o a legitimate claim. This wasn't a goodwill situation. 

IMPORTANT:

Ask Fedloan for all correspondence you sent them. I did this with my deferment application, and they sent me a stack of paper from 2013 during the months I was trying to get approved for the deferment. 

Even if Fedloan doesn't budge, this can be used as proof for the Ombudsman Office. (A step I thankfully didn't have to take)

ADVICE:

#1. Talk to a Supervisor: Don't even waste your time with a regular rep. I spoke to a few just trying to get an update on my many requested reviews, and they gave wildly differing answers. They cannot help you with matters like these.

#2. BE NICE(!):  I legitimately think that me being nice to the right rep is the reason this happened. 

#3. Ask for supervisors ID# and contact info: I asked multiple supervisors and one said he couldn't give me his contact # b/c his line wasn't working... (I don't buy it!). Meanwhile the woman who eventually really helped me, gave me her ID# and her contact info. I think this action alone shows they are serious, and want you to succeed. Eventually though, it wasn't even this woman who signed off on it. She still had to send it to an internal department for review. They don't have a number for that department. At that point, it's just luck. 

That being said, best of luck to everyone!!!