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How do I delete OLD student loan history after I consolidated???


krystalt313
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The last post in this topic was posted 3146 days ago. 

 

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Hello,

 

I am in desperate need of assistance with repairing my credit. Unfortunately, I CANNOT afford to pay a company $4,000 to clean up my credit, so I need some advice!

 

My credit score is in the low 500's mainly due to late from student loans. I recently decided to consolidate my student loans. However, the OLD student loans with negative history still show on my credit report.

 

How can I request to have the OLD STUDENT LOANS history removed from my credit report?

 

Does anyone have any sample letters they could provide? What wording should I use?

 

Please help I have over $80,000 in student loan debt, and I feel like my life is ruined due to this bad credit history.

 

What is the process?

 

 

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Do you have any documented proof that these lates should not exist? (i.e. payment made, active deferment or forbearance?) If not, then you are stuck with these lates as the federal loan servicers follow the fair credit reporting act and they will continue to report derogatory remarks for 7.5 years. Student loan lates are extremely difficult to remove.

 

Now, there are some members on this board who have successfully gotten their lates removed by being persistent and writing goodwill letters; however, there is absolutely no guarantee that it will work. Also, you are wasting time if you believe a "credit fixer" can actually fix your credit - they are scam companies and they will just empty your bank-account and you should be re-directing those funds to your student loan debt.

 

Why were YOU late in the first place? Are you currently making payments on your student loans and any other types of debt that you may or may not have? Are those payments up to date? Do you have lates elsewhere on your credit profile?

 

This board has excellent tools and resources for building or rebuilding credit!

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Hello,

 

Thanks for your response. Basically, I was late on my student loans, because I was going through financial problems. I had so many student loans that I could not keep track of them. I had over 10 different loans from bachelors to mba degree..crazy! I put them in deferrment for years, and then I ran out of deferments. The repayment amounts were ridicolous. One loan wanted me to pay $450 a month, which I could not afford. I consolidated my loans back in September, so now I only have 1 loan and it's in good standing. Unfortunately, the damage has already been done to my credit!

 

I was also late twice on a credit card. I have started to write goodwill letters, and I'm praying that helps some.

 

The credit clean up company claim they can delete the old student loan accounts since I consolidated my loans. I just want to know how they are able to do that. They claim it's legal.

 

I also have some medical bills on my credit. Most are under $1,000.

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  • 3 weeks later...

Hello,

You can monitor your credit report & credit score by TransUnion. It has the best credit report monitoring in my opinion, plus they include your credit score for free.You can also request for Goodwill adjustment. Creditors are happy to grant goodwill adjustments if your previous payment history is relatively good and you have established a good relationship with the creditor.The process involves writing the creditor a letter explaining your situation and asking that they forgive the late payment and adjust your credit report accordingly.

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