Defaulted perkins loan then forebeared

[sherryaggie02]

Ok, I had all of my student loans through sallie mae in forebearance and I didn't realize I had to do the same thing with my perkins loan through my school. So I ended up defaulting it, and then I filled out paperwork to forebear the loan and that was that. 2 months later I consolodated all of my loans, including this perkins loan. So I'm wondering, since that loan will be paid off from the consolodation, does the school need to remove the default status from my report, even though I didn't make any payments or anything on the loan? I just forebeared it which put it back in good standing (but it still shows i had defaulted on it at one time) and then 2 months later, I consolodated the loan, so it's paid off on their side.

 

Thanks!

[Cheech]

Sherrie - as far as I know, consolidation or forbearance doesn't remove past default notations. Even rehab can be hit or miss as far as that goes. I know other posters here have had your same situation. They've tried either tradeline disputes or goodwill letters with varying degrees of success. Do a search in this forum and you will at least get an idea of what worked and what didn't. It's truly a YMMV situation.

[sherryaggie02]

I wish I could do something about it because it's one of the two accounts that are being reported as highly affecting 2 of my credit scores. I don't know WHAT'S going on with my equifax score because my fako equifax is 563.

[LynnInMN]

You cannot apply for forbearance on a defaulted account. You would have had to applied for a repurchase. With your consolidation, your balance will be zero but the default notations do not go away.

[cotterpin]

I wish I could do something about it because it's one of the two accounts that are being reported as highly affecting 2 of my credit scores.  I don't know WHAT'S going on with my equifax score because my fako equifax is 563.

<{POST_SNAPBACK}>

 

 

Try what Cheech suggested: Search to see if other had success with CRA disputes or Goodwill letters

 

And NEVER rely on FAKO's that's why we call them FAKO's, they're not wholly accurate

Edited March 25, 2005 by cotterpin

[sherryaggie02]

Just an update. I applied for forebearance on my defaulted student loan. It was granted. Then I consolodated the student loan a month later. My school said because I was granted forebearance on the loan, they would remove the negative information. They updated my account with the credit bureaus. My perkins loans shows up and there is no negative information. It shows paid in full and closed now that it was consolidated. YIPPEE!!!!!!!!!!!!!!!!!!!!

[ziggypop]

GREAT news!!! Thanks for the update -- it's always good to hear when someone gets a positive response; it gives the rest of us hope!