cancel
Showing results for 
Search instead for 
Did you mean: 

How much is this affecting my score?????

AndySoCal
Valued Contributor

Re: How much is this affecting my score?????

@slowlyclimbing 

 

Here is an option you should consider and or investigate

 

https://www.nerdwallet.com/article/loans/student-loans/student-loan-rehabilitation 

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 11 of 14
slowlyclimbing
Established Member

Re: How much is this affecting my score?????

do you think my score could go down from paying it?  I'm just hoping that it won't be a negative effect.  I have to pay it for my mortgage approval, but hoping there isn't additional score dropping from paying it

Message 12 of 14
AndySoCal
Valued Contributor

Re: How much is this affecting my score?????

@slowlyclimbing 

Rehabbing the student loan is a way to possibly get the derogatory information removed and raise the score.  Check with the student loan provider and see what can be done that would meet your time frame

FICO 8 EX 794 TU 794 EF 805
Discover IT Opened 9/1990 CL 19,000, JC Penney Opened 10/2008 CL 4700, US Bank Cash Plus Opened 8/2010 CL 12000, Citibank Double Cash Opened 5/2015 CL 11,100, Chase Freedom Flex Opened 09/2020 CL 10,500
Message 13 of 14
LaHossBoss
Valued Contributor

Re: How much is this affecting my score?????


@AndySoCal wrote:

@slowlyclimbing 

Rehabbing the student loan is a way to possibly get the derogatory information removed and raise the score.  Check with the student loan provider and see what can be done that would meet your time frame


Wait, so the SLs are defaulted? I thought it was just a 90d late reported.

 

You cannot rehab SLs that are not in default. Also, rehab only removes the defaulted marks and the accompanying CAs. There is a small chance they will remove the lates, but I wouldn't count on it. That is when it definitely will not happen and there is no way to force them to remove them. People often mistaken "removal of default" means lates are removed. Technically the lates are to not be removed at all per the terms of the rehab agreement, but some get lucky and get the lates removed anyway (servicer's decision).




Starting Score: 2•20 | EQ 550 | TU 498 | EX 505
Current Score: 2•21 | EQ [F8 640] [F9 645] [EQ5 678] [VS3 651] | TU [F8 620] [F9 620] [TU4 683] [VS3 605] | EX [F8 612] [F9 651] [EX2 628] [VS3 589]
Goal Score: 670


Take the myFICO Fitness Challenge

SO Starting Score: 2•20 | EQ 502 | TU 484 | EX 521
SO Current Score: 2•21 | EQ [F8 665] [F9 659] [EQ5 657] [VS3 655] | TU [F8 676] [F9 659] [TU4 644] [VS3 674] [VS4 658] | EX [F8 659] [F9 664] [EX2 640] [VS3 680]
Goal Score: 670 [X] TU


Take the myFICO Fitness Challenge



Message 14 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.