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What should we do?

Regular Contributor

What should we do?

I am working on my husband's credit report.  He has 17 tradelines that are all SLs serviced by Dept of Ed/Nelnet.  All are federal.  Of those TLs, 11 of them are showing the following lates:  

 

05/13 - 90d

06/13 - 120d

07/13 - 150d

08/13 - 180d

09/13 - 180d

10/13 - 180d

11/13 - 180d

 

We were both unemployed during that time.  I was in school FT in my Master's program and he had lost his job (for which we can provide proof to Nelnet).  My question is, what do we do with these now?  I know Nelnet doesn't GW (and I know about federal reporting requirements).  Can he call Nelnet and inquire about a backdated forbearance?  Or can we only wait them out for those lates to fall off his reports?  11 TLs showing 7 severe lates (totaling 77 late payments on his CRs) is brutal.   







Starting Score: 10/1/2017

Fico8 EQ 591 TU 578 EX 598
Mortgage: EQ 616 TU 632 EX 590

Current Score: 2/1/2018
Fico 8: EQ 608 TU 669 EX 632
Mortgage: EQ 629 TU 657 EX 657


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Message 1 of 5
4 REPLIES
Regular Contributor

Re: What should we do?

I think you will need to wait for them to fall off.

 

I doubt they will backdate a forberance 4+ years.  But, it can't hurt to try.



Message 2 of 5
Regular Contributor

Re: What should we do?

I think he may try for retroactive forbearance.  I know I was able to get a RF for some lates in 2011 with great lakes, also federal SLs.  I just dont know much about Nelnet and if they offer that type of thing.  







Starting Score: 10/1/2017

Fico8 EQ 591 TU 578 EX 598
Mortgage: EQ 616 TU 632 EX 590

Current Score: 2/1/2018
Fico 8: EQ 608 TU 669 EX 632
Mortgage: EQ 629 TU 657 EX 657


Goal Score:
700 Club


Take the myFICO Fitness Challenge
Message 3 of 5
Contributor

Re: What should we do?


@wrote:

I am working on my husband's credit report.  He has 17 tradelines that are all SLs serviced by Dept of Ed/Nelnet.  All are federal.  Of those TLs, 11 of them are showing the following lates:  

 

05/13 - 90d

06/13 - 120d

07/13 - 150d

08/13 - 180d

09/13 - 180d

10/13 - 180d

11/13 - 180d

 

We were both unemployed during that time.  I was in school FT in my Master's program and he had lost his job (for which we can provide proof to Nelnet).  My question is, what do we do with these now?  I know Nelnet doesn't GW (and I know about federal reporting requirements).  Can he call Nelnet and inquire about a backdated forbearance?  Or can we only wait them out for those lates to fall off his reports?  11 TLs showing 7 severe lates (totaling 77 late payments on his CRs) is brutal.   


I have Nelnet as my servicer too. In my experience, DW and I once had to call about doing forbearance on DWs loans, and they took care of it quickly and easily. Explained what would happen, and were really nice about it. I think your best bet is to just call in and explain the situation, and what you would like to do. They've always been really nice to me when I've called in for something. Good luck!

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Message 4 of 5
Regular Contributor

Re: What should we do?

Thanks!  He did end up calling on the day I made the original post.  No luck getting retroactive forbearance.  We are beginning GW letters soon in hopes one of them falls into the right hands and will grant the RF.







Starting Score: 10/1/2017

Fico8 EQ 591 TU 578 EX 598
Mortgage: EQ 616 TU 632 EX 590

Current Score: 2/1/2018
Fico 8: EQ 608 TU 669 EX 632
Mortgage: EQ 629 TU 657 EX 657


Goal Score:
700 Club


Take the myFICO Fitness Challenge
Message 5 of 5