Great site! This is my first post, but i have been lurking and reading lots and lots of posts on CB and have really gained a large sum of knowledge!

I have searched, and searched and just have not come across a post that specifically answers my question.

I know it is pretty much worthless, in fact possibly harmful to DV or send nutcase letters to Federally back student loans, however I was wondering if the same applied to private student loans?

My current situation has all my Federal Student loans consolidated and paying on-time for over a year. I took out some private student loans in college to help cover the gap between what the federal loans and myself could not cover for college, since unfortunately my parents could not financially help me out, at all, other than cosigning the private loans for me. I tried and tried but could not get my private loans consolidated, so in the end my parent's took out a home equity loan to consolidate the payments for me and now I am paying them almost $900 a month.

Back to my question, there was a period of time after graduation where I lost my job and it took me quite a while to catch up on my accts, some of which never got caught up until my parents took out the loan and paid them off in full. In the meantime none of them defaulted, but some are reporting as late as 90 days on my CR.

Basically my question is, if I try and send something like, or similar to a Goodwill/Nutcase letter to the private OC, do I have a shot or do I still run the same risks I do as if they were federal student loans and having them shot down and possibly reporting more negative info if they have any to the bureaus?

Any and all advice would be greatly appreciated!

Most of the private lenders also handle federal loans. They will pretty well follow the same policy for reporting private loans....reporting accurately for valid lates.

Somewhat...some of the bigger servicers (Sallie Mae, Citibank, Wells Fargo, Nelnet, etc) take payments and report for private loans from hundreds of different programs and each and every single program has its own servicing matrix, including credit reporting.

Generally speaking,
-private loan delinquency may be reported much sooner than federal.
-private loan reporting may be easier to remove than federal (not due to record keeping; per application of law)
-private and federal loans serviced by the same servicer may be delinquent for the exact same number of installments and reported differently.

-private loan reporting may be easier to remove than federal (not due to record keeping; per application of law)
Can you explain what you mean by this? I am confused.


Thanks!