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Scoring question

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Drsgwld
Frequent Contributor

Scoring question

My Student Loan Lender is doing a correction from March-October. My payments since I found the lender has been on time and I pay 50% more than the amount due.

How much will this effect my score? My score is 607 (FICO) 618 Equifax 615 TU near 700 Exper.
Message 1 of 6
5 REPLIES 5
user5387
Valued Contributor

Re: Scoring question

Not sure what you're asking.

 

Are you referring to the payments being late in the past, but now on time?

 

Or are you asking about the effect of paying 50% extra?

 

Message 2 of 6
Drsgwld
Frequent Contributor

Re: Scoring question

I was 180+late because they were ONLY sending notifications to an old email address. It was not until I pulled my CR that I even discovered who was holding my student loan. Once I found out how much and who to pay, I haven't missed a payment. I pay at least 50% more than what is due.

The lender sent me a GW letter that will notify all bureaus to remove the late/delinquent payments.
Message 3 of 6
Drsgwld
Frequent Contributor

Re: Scoring question

I recently did a auto pay to lower my interest as well and I'm considering paying 100 more/month to get this loan paid off quicker. There is no penalty for early payoff.
Message 4 of 6
user5387
Valued Contributor

Re: Scoring question

If you have 180-day lates on your report, and they are removed, it should help you a lot, since these are major derogatories.

 

Message 5 of 6
Drsgwld
Frequent Contributor

Re: Scoring question

That is what I am hoping for! I have my fingers crossed and can't wait for this to be official. It's been a little over a week since my lender stated they are notifying the 3 bureaus.
Message 6 of 6
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