Credit reports after successful rehab

[dan_greenberg1500]

After completing rehab, I know that the student loans are taken out of default status and shows as a current account. Isn't it true though that all negative marks are also removed? I was just checking out my credit report and it shows my account status as OK but under payment history it mentions that I was more than 90 days late on 20 different ocassions.

[LynnInMN]

After completing rehab, I know that the student loans are taken out of default status and shows as a current account. Isn't it true though that all negative marks are also removed? I was just checking out my credit report and it shows my account status as OK but under payment history it mentions that I was more than 90 days late on 20 different ocassions.

 

Your guarantor is the only tradeline that will remove the negative tradelines and by have up to 90 days to make these changes.

The original lender/servicer is under no obligation to remove any of their negative info.

[dan_greenberg1500]

Thanks again Lynn for your help.

[Credithater]

Once I was done, the collection company removed all the negative and the score jumped up pretty good.. I still have all the old lates from the real account..

[ChrisAZ]

My score on EX went up approx 50-60 points. YMMV I am still awaiting the score change for EQ, as they are reporting the default as rolling lates, so there should be an even higher score change on that bureau.

[Stryker]

My score on EX went up approx 50-60 points. YMMV I am still awaiting the score change for EQ, as they are reporting the default as rolling lates, so there should be an even higher score change on that bureau.

About the same for me.

 

I was very, very fortunate. My OC cleaned up all the lates as well.

[ChrisAZ]

My score on EX went up approx 50-60 points. YMMV I am still awaiting the score change for EQ, as they are reporting the default as rolling lates, so there should be an even higher score change on that bureau.

About the same for me.

 

I was very, very fortunate. My OC cleaned up all the lates as well.

 

That's good to know.

[citygirl8]

I'm reviewing some recent reports, and it appears that one YEAR after I rehabbed my loans the Dept. of Ed. reported newly opened accounts that are all current.

 

The old accounts were not removed, but closed and reported "Current Status" as 'OK' and 'Never late'. Except one. My TU is reported as 'never late' but also as "unrated or bankruptcy'. Clearly that can't be helping me.

 

Although I'm not thrilled about the year later part, the old accounts are reported as okay and so they give me some good length of credit history.

 

I'm going to try to get the creditor to correct the reporting on the TU report, but otherwise, I'll have to go for removal.

 

I thought this had all been taken care of ages ago, so I'll have to look up my old CRA reports and see what happened.

 

Keep in mind, that although Dept of Ed isn't going to fight you on rehabbing your credit reports, they're also not going to try very hard to get it right and they are a huge bureaucracy. Just because it seems easy, doesn't mean that its going to be right, and you'll have to keep on top of it.

[helcat]

After completing rehab, I know that the student loans are taken out of default status and shows as a current account. Isn't it true though that all negative marks are also removed? I was just checking out my credit report and it shows my account status as OK but under payment history it mentions that I was more than 90 days late on 20 different ocassions.

 

Dan, did you see a score increase yet?

[dan_greenberg1500]

A few days after my original post, I signed up for a Fico score alert. It looks as if my Equifax score jumped up about 45 points. As far as the other credit bureaus, I am going to wait a few more weeks to check since I have other things on my reports that I am disputing.

 

I'll keep you updated.