i just got out of rehab in march and i am wondering how long all this stuff takes to report to the cra's?? also, what types of score changes have you seen after going through rehab on these loans?? i imagine it should be a pretty hefty bounce, since you are going from four bad accounts to four good accounts...

I am in the same situation. I just made my 13th payment. Actually, my rehab date is April 4th, and they are going to report to the credit bureaus to delete the derog information on April 9th. I heard that it depends on what current tradelines you have. If you have some positive tradelines once the accounts are deleted, this makes a difference. I'm hoping to see a drastic jump in my score. My scores are in the low 600's right now. I'm hoping to reach the high 600's. I'm anxious as well! Good luck to you!

gotmike - generally it takes 30-60 days for the CRAs to update. It can take longer, so give it some time. I'm not even going to attempt to guess anybody's score, because it depends on so many other things in your credit profile.

Post back and let us know how long it took for the CRAs to update and how much your score increased. That will at least help others to know roughly what to expect.

Good luck!!

well, i finally got them removed from my experian report. four accounts came off and the new one hasn't started reporting yet. my score on experian's credit expert site, which they call a plus score, went from 607 up to 641. when my score was 607 on that site, my fico score was 636, so i hope my fico will go up 35pts as well...

How did you get it removed..did the company remove it or did you dispute?

gotmike that is excellent news!! Thank you very much for updating us.

they sent me a letter stating that they would instruct all bureaus to remove all mention of student loans from my records. i made copies, highlighted the area that said that, wrote a letter explaining the situation, sent it priority mail, and voila!! i only had to do this with one bureau (experian), as i was able to dispute them off the other two.

Thanks for the info gotmike. Dh is finished with his rehab and we have an appt to apply for a motgage next week. I went ahead and disputed the info hopefully it would come off quicker. If not I guess I just have to wait for them to take it off.

Do you by any chance have anything in writing that you've completed rehab? If you bring that with you, I wonder if that might help you in the mortgage process? If nothing else, maybe bringing a copy of the law that explains what rehab is and some sort of proof of your 12 payments might suffice as well. Of course, you may not have a problem at all, but just thinking out loud about options for you!

Good luck!!!

Thanks Ziggy,
I don't have a letter as yet saying that he completed rehab. When I do have is a letter that he got in Feb saying that the rehab is almost finished and to continuing making payments. It also states what the program is. I have everything is a folder ready to go. Hopefully all works out fine. Thanks

i got a mortgage before my rehab was finally over. all i needed to show was that i had been paying them and was in a rehab program.

DH scores aren't that great. Only negatives are the SLs and a collection that we have documentation stating they will delete. I'm hoping with these items removed he will gain at least 15-20 points.
If his scores were better I wouldn't be concerned..

Well I just received the letter in the mail from Sallie Mae stating they are now the lender.
Our payment before to the CA was $200.00 our new payment will be $115.34.
But it seems that the principal is still the same, did any money we paid to the CA go towards this loan?
Also I just checked NSLDS and it's still showing as defaulted, how soon should I expect this change?

Yeah, that's annoying, but true. When your payments for a SL are applied, they go first to penalties and fees, then toward interest, then toward principal. So, it's unlikely that you had made any dent in the principal while you were paying the CA (you were probably just paying toward penalties and fees - I know that was the case with mine).

I believe that they have 90 days. Keep on top of it, though, and make sure it gets done. It works out fine on its own in the vast majority of cases, but you'll just want to be sure that you're one of them!

Congrats with finishing rehab!! Good luck!!

Quick Update!

Juct checked online and all of the SL's except one have been deleted off of EXperian and TU
Can't access his CSC account online so I was able to dispute online..have to dispute CMRR..will do that tomorrow.
So far so goood...YEAH