SL Driving me nuts!

[whassamatta]

I rehabbed over a year ago and they're still reporting my tradelines incorrectly! They keep passing the buck and it's not the original loan people but the ones who bought the loan! It keeps saying government claim! Trying to get a mortgage with better scores, but no one is taking the blame on who's reporting what!

[MrsChambers]

oh no!

please don't tell me that you are dealing with PIONEER!?!?

 

I assume that you have already tried to dispute it with the CRA's??

[MrsChambers]

oh yeah.. from what I understand... after one year of rehab.. (actually I think it's more like 13 months) your loan then get's either picked up or sold to a "traditional" lender.

 

Has this happened with your rehabed loans yet?

[whassamatta]

The loans have been sold for over a year and I've been making steady payments. That tradeline of the sold loans are fine. What's not showing correctly are the ones that were bought (strange scenario). Everyone swears they're reporting it correctly. I've even faxed CR's to the lenders adn they claim they've fixed it - NOT! I left it alone thinking eventually it would fixe itself, but it hasn't.

[LynnInMN]

Who is reporting negatively?? The OC is not required to report current payments. Only the servicing agency is required to adjust your CR.

 

<< http://www.ed.gov/offices/OSFAP/DCS/rehabilitation.html

 

You may also be interested in participating in the loan rehabilitation program. After you have made 12 consecutive monthly payments that are both reasonable and affordable, we will agree to reinsure the loan. You will then be eligible to have the loan purchased by a lending institution. Once a loan is rehabilitated, it will be taken out of default, the credit bureau reports made by the servicing agency will be deleted, you will be able to repay the loan over a 9 year period, and you will again be eligible for additional Title IV student financial aid funds. >>

[whassamatta]

It's the servicing agency. The OC is cleared off my report, but the ones who bought it AES are not reporting correctly. They claim they are, but in truth, they are not.