When will it stop!?

[Anonymous]

Okay, so it is not that bad... but when will this stop affecting my credit score and credit report.

Date opened: 5.4.2012

Last Late: Sept. 2016

The account has been marked "Paid, Closed" as of Aug. 2017

Thank you for any information.

[Anonymous]

Hello,
When it was paid off was the account with a servicer or collections (defaulted)?
How many days late was the maximum late?
Once it falls off your credit report will your report have any other lates?

[Anonymous]

Hello, thank you for stopping by.

The loan had supposedly gone 150 days past due.

It was then refinanced and consolidated with all of my other student loans.

Nothing has been late since then, and nothing was late before then.

So no, I have nothing else late and or no other negatives on my credit report.

[Anonymous]

If it's worth it, got could always look into it to see if it's actually late or if it was an error. They should be able to send you the billing statements or something. Federal student loans are weird in that they don't often report until 90+ days late. I would look further into your though.
Since the loan is paid off, I believe the Higher Education Act says the delinquency should fall off after seven years. I'm not sure though.

[Anonymous]

Thank you for your information, you are correct. The first mark is a 90 day. Then after the 150 mark some how everything got brought up to date and shortly there after the loan consolidation took place.

I disputed it due to the fact that i do not have to start paying back student loans until 6 months after graduation.

Experian changed it from "refinanced, closed" to "paid, closed"

Like that makes any difference lol.

Finally, my last question, is it once the account with a derogatory mark is 7 years old, or the age of the derogatory mark on the account is 7 years old.

Thank you for your time and information in regards to this

[Anonymous]

You're welcome.
This came up before. Are you sure you were entitled to the grace period? Another borrow find out that the loan repayment only had a great period for a certain number of years. After that, repayment starts after graduation, no face period.
If it's an error, my advice that you can also dispute it directly with the servicer. Or I often turn in the dispute with any proof I have (that you were in your grace period, from your servicer) and a copy of regulations. Even if it's initially considered frivolous, new information may allow you to open a new dispute.
Other than that, I'd just file a CFPB complaint. You'll need a detailed narrative and uploadable copies of proof (bills, correspondence, credit report, etc). That should work.
It's 7 from the delinquency but as early as 6 months to can begin asking each CB for an early Exclusion.

[Anonymous]

This is great, I am going to look into this early exclusion thing. If that fails I will start going through the other suggestions 1 by 1

[Anonymous]

I meant to say it's as early as 6 months before deletion. You've got a few years to go.
The CFPB complaint is fairly easy, you just want to exhaust your other options first and create a paper trail.
Best of luck and feel free to ask more questions.

[Anonymous]

I see, and it's more of an OCD thing. Everytime I see my report it's the only negative thing on there.

But how student loans are setup typically there's more than one associated with the account.

So even though I was supposedly late through out this stretch of time once... it is showing up as 4 late payments, 90/120/150 and apparently another mark, but on 16 different student loans, all at the same da mn time.

So it says something like 78 late payments lmao

So that, teamed up with my "thin" file was giving chase a reason to decline my CLI shortly after activation.

Honestly, I think I was also applying for too many great (SUB) cards in too short of a time period, with too thin of a profile.

I got approved for all the cards I wanted through them... except for the Chase Ink Preferred

I think I'm going to wait a little while, let my payment history with them show a few on time payments, let my 2 amex cards show up with good payment history (they still haven't hit my report) ... and hopefully a 3X CLI @ 61+ days

Then I'm going to reapply for the CIP, maybe around November... after that, a CLI on my CSP to get ready for the product change to the CSR after my year is up!

I got plans!

Hopefully by then these student loans just disappear some how

Thanks again for all of your time and answers

[Anonymous]

It's not OCD. You should get a major boost on your report after it gets removed.
You mentioned 16 different tradelines. How many years were you in school? That situation I mentioned where you no longer get a grace period might have applied to you. The post was by Superawesomewow; theirs actually ended in default. If so, it's a very similar situation and servicers seem to mishandle it instead of telling borrowers the reason. You should have been getting bills in either case. It would be worth looking into whether your servicer has fault imo. Otherwise you'll be waiting quite a while for the lates to be removed. A bump in your score might also help your Ink Preferred application.
Whatever you decide, good luck on your CSP CLI and Ink. You might also want to check out the Amex 3x thread if you're not already on it. There are a lot of good tips I wish I had known earlier.