Hi all, hope this isn't a dumb question.

I defaulted on my loans a few years back. Well, I went through and completed rehab for my loans and they are now out of default and being paid back as if nothing ever happened. I was told my credit report would reflect this. Well...Equifax has updated some of them to current and a few are showing as delinquent. Transunion is showing them all still seriously derogatory and Experian doesn't seem to have some of them listed. Also, TU and Equifax also show previous collections attempts, even though the loan is no longer their problem and again, is being paid and is considered current. I've tried disputing but so far I've seen spotty results.

Help!

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I would contact your lender

How would contacting my lender help? When a loan finishes rehab it's then purchased by a new lender, although in my case it's the original lender. However, it's been through two CAs...one directly employed by the lender and then a second agency.

There's some very good info on this in the student loan forum, go take a look if you haven't already. Some of the stickies there deal with what happens in terms of reporting once you go through rehab. The student loan forum gets less traffic but this is the kind of question that usually gets a helpful answer there.

How long since the loans were rehabbed, and are they FFELP loans? I think the time frame on reporting the change is 60 days, but I'm not positive--it might be 90 days.

Let's see, they came out of default at the end of December. There was a little confusion on this at first--I went through the agreed (signed and all) terms and then I was told they'd made a mistake and not charged me enough per month to qualify for a rehab, I told them where to put it and received notice that my loans were now current and back in repayment. I've made three early payments, January, February and March. The loans are partially updated, but some of them are showing current lender, late payments and I still have some of the CA claims showing up.

They were federal loans.

Moving to the Student Loan forum.

Just to be clear, in whose name are the notations on your credit report? Only the notations of the guarantor are made clean, AFAIK.

Here are two concerns I have about these loans...

The whole story is that the loans were from nine years ago and earlier. I had deferred them successfully up until 2004. I lost my job, didn't fill out the paperwork (yes, this was stupid) and they went into default. I started the rehab process in 2005, made all but the last payment. I was in the process of moving four hours away from my previous home and apparently was short about $3 and change in my bank account and bounced my last payment. My bank didn't have any kind of overdraft service. I realize this was my fault and after some negotiation (and wage garnishment) I entered into another rehab.

The original loans were subsidized Stafford loans. The default was handled first by Finance Authority of Maine and then General Revenue (a CA). They are now being handled by Nelnet. I've paid three months, all early, and on my credit reports I'm seeing some positive changes. TU is showing the Finance Authority reports of deliquent. Experian is showing 7 Nelnet deliquent charges (there were six loans...) and Equifax is showing several loans current and showing four or so more (also Nelnet) as deliquent.

My question, and I have been reading through the information here on this site and am not finding the answer (so if someone can point me to the rehab info I keep hearing about I'd be grateful) is that what is the timeframe for the Nelnet loans to show up as current. I was also told by General Revenue and FAME that if I went through the rehab program successfully my defaults would come off my credit reports. How does this work? I did learn from the boards here that some facts can't be removed, and that's okay, but I'd just like to know what to expect.

I'm working hard to improve my credit--I have a good job would like to buy the house I live in now--and my loans are the biggest black mark I have right now.

First of all, don't beat yourself up too hard. Your situation is almost a carbon copy of mine. I went through just about everything you went through, and made the same mistakes. I know how it feels to have an insurmountable SL TL stand between you and owning your home.

First, kudos to you for completing rehab. Again, having been there, I know the sacrifices that you made. As you know, technically, the OC defaults won't come off. Whoever had the loan after default (the second set of baddies) is the entity that will remove their bad notations.

It can take a while -- some folks have reported 90 days. You could dispute the negatives off early... this may not expedite it however (though it did work for me and a few others on the boards.

Also, I was blessed enough to convince the OC to do the impossible and delete the bad notations from my reports, so all the bad is positive now. So don't toss goodwill out the door.

So, don't fret. Take the time to read some posts on here, and you'll find some great strategies. Also, Lynn will be on sonner or later to correct any mistakes I may have made.

Keep us posted on your progress.