Jump to content

AnnaSunshine

Student Loans mid-Rehab

Recommended Posts

So I went through WhyChat's methods to clear up all of my credit reports of unknown medical bills, and now just have this left. I'm in the rehab program with 3 months left, but still get denied even secured cards based on the delinquincies showing. The new ones all show closed and delinquent with both Navient and the DoE now. Any advice on getting the old ones removed, as that seems to be the only things on the report, besides two positive AU cards.

 

 

Update: Only things showing are student loans and my AU cards. One set of SL is the initial ones with DoE/Navient....all showing closed with $0 balances. Mid-rehab, 3 months left, other set has appeared with full balances showing just DoE (But still showing closed).

 

However, credit score took a big hit with the new ones' appearance, as they were up (on CCT) to low 600s, and then dropped:

 

Current scores: Experian: 533, TU 527, EQ 567

 

Two AU credit cards showing - BofA and Chase - I had applied for a secured card with NFCU, but they declined it with reason "Loan ratio to balances too high" so the SLs are likely defeating that. I haven't called for any sort of recon yet, as it says I have to receive the letter in the mail.

 

One factor all 3 list on CCT is "No credit card activity" but both those cards are used, and even allowed to report small balances for the purposes of boosting my score, so I'm not sure of that, unless it's just CCT is unreliable for such factors. What should my next step be? I'm guessing to get the old 120 day later set of SLs off, which I'm hoping will happen with the plan. Is there a solid card I can get to add to my only-AU list? Nothing's coming in as far as pre-selected offers yet.

JNNwqE9.png

Edited by AnnaSunshine

Share this post


Link to post
Share on other sites

I had similar issues, actually much worse. Numerous defaulted student loans, no revolvers, and only 1 positive tradeline. Right after I consolidated, I applied for a Cap1 secured, and was approved. I would just be patient, wait until your rehab is finished, your loans are picked up by a servicer, and start to report. You can probably get approved for cap1 secured now, maybe Discover IT secured. After rehab, better chances of approval, maybe even Cap1s quicksilver 1, or platinum.

 

Sent from my LG-M150 using Tapatalk

Share this post


Link to post
Share on other sites

As far as getting the negatives off, have patience, and wait until your completely done with rehab. Some of the derogs might fall off on their own, some might not. With Navient, not likely. When your rehab is done and the new loans are reporting, update on here with what is still being reported, and we'll start from there.

 

Sent from my LG-M150 using Tapatalk

Share this post


Link to post
Share on other sites

I'd actually made my 9th payment (presumably completed rehab) earlier this month, but haven't heard from DoE, so I'll try to give the lady who handled my rehab a call tomorrow if possible and find out what the next step is, because I need to setup in the Income based repayment plans asap to hopefully have the others fall off. I was denied for a CapOne secured, and an IT card...as well as NFCU's secured card, and they pointed to the delinquencies in loans when I spoke to them about it. My local CU said they go off EX's FICO 08, and needs a minimum 620 for their secured card. So it seems like a wait and hope for clearing at this point. I'll try to have patience, because that's about all I can do, haha. Thank you for the insight, tralston3838.

Share this post


Link to post
Share on other sites

I apologize for not replying sooner, so some of the following info might be moot at this point.

 

With rehab, don't stop making the payments, even though you've already made the 9. Sometimes, it can take awhile for a new servicer to pick up the loan. Also, after a new servicer picks up the loan, and starts reporting, I would give it 2-3 months to see how the negatives update. They like to take their time.

 

Given that is been a few weeks, any updates?

 

Sent from my LG-M150 using Tapatalk

Share this post


Link to post
Share on other sites

Just to update since she's been too frustrated to do much recently. The 'agreement' over phone and filling out the thing by mail seems to have been for naught. They claim she never submitted proof of income, when she doesn't have income, and sent a letter stating such...So they sent her a new form, and are saying the 9-month period would have to start all over. The lawyer handling her case says that even though she sent that to them with tracking, if they need further proof like bank statements (even though they didn't ask) that she would need to provide that, and redo the 9 months.

Share this post


Link to post
Share on other sites

Hi again, update time.

 

First, tralston3838:  Thank you for your message.  It's been a trying time, and after pushing through it, the rehab is completed, apparently without any notice to me.  It looks like they've been assigned to Great Lakes, but I haven't received anything from them or the DoE.  Next payment should be coming due next week, but it's not available to be paid on the DoE's website anymore, so I'll have to call them Monday.  CK shows a large consolidated SL now, along with the pile of Navients still there, unfortunately.  

 

So...I know I need to contact GL regarding being setup for IBR with them also if I understand correctly.  What is the next best step for getting the Navients removed as far as disputing method, since it doesn't seem I was lucky enough for all of them to fall off?

 

As to the SSI update, lawyer has now sent it off to request a hearing, so hopefully that long process is coming to a close, and soon.  Thank you all for your patience and help along the way.  I think sometimes my kids will be out of high school before this is over.

Share this post


Link to post
Share on other sites

GL seemed to be already setup with the IBR plan, as my payments are still set to the $5.  I sent them a mail to confirm if/when I'll need to reset those.  I did manage to get approved for a Discover IT card, even if only a $700 line, that's huge. An actual rewards card!  I about fell out my chair when I saw it was approved.  Though I hit the wrong color, so it will be lovely pink to remind me that it's not as good as it can be yet.

 

Should I just send a general request on the Navient as duplicate, or?  I've read that the "Don't recognize" can lock in a SL, is that the case here?

Share this post


Link to post
Share on other sites

Congrats! You're on the right path. Of you have no income, you can contact GL about getting on an IBR payment plan paying 0 a month. They should also let you know when you have to fill out the paperwork to "renew" the payment plan. Usually, once a year. This will also give you some piece of mind while trying to get the SSI and such to go through.
I would give it another month or so before disputing Navient. If it's still showing on your reports at that time, post what it says on your CR (personal info omitted), so we can offer suggestions on how to dispute it.

Sent from my LG-M150 using Tapatalk

Share this post


Link to post
Share on other sites

tralston,

 

Thanks for the encouraging words.  I'll keep an eye out for the renewal, because it's been almost a year now from when I started the process with the DoEd.  I'll put for new paper reports shortly so that I can get exact wording off of them for the Navis.

 

On other bright news, I got a pre-approved offer from NFCU in the mail, and so I figured why not, as I could use a 3rd card to start building up time, and wow!  Approved on their Cash Rewards Visa for 7900!!!  Beyond shocked to say the least, but that's 3 steady ones to keep reporting and growing.

 

1. CapOne Platinum: $500 limit

2. Discover IT:  $700 limit

3. NFCU CR: $7900 limit

Still listed as an AU on a 2.5 year old Chase card with $5000 limit.

 

The FAKO from CK is up to a 669 on both though, so I'm quite happy about that.  And that's before the NFCU card has started its reporting.  Thank you all so much for your help!

 

Anna

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Today's Birthdays

    1. keys2anulife
      keys2anulife
      Age: 53
  • Member Statistics

    • Total Members
      174,837
    • Most Online
      1,528

    Newest Member
    TheRoyalCoach
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×

Important Information

Guidelines