Jump to content

Student Loans Removal


Recommended Posts


  • Admin

Welcome to Creditboards!

We hope that you find what you're looking for here.

Some helpful tips:

  • Your post may not get a reply right away. Don't be discouraged, this is a very busy board. If it falls off of the first page, feel free to reply to your post yourself, with the word *bump* in the text. This will *bump* your post back up to the top of the board.
  • If you haven't yet, take a peek at out Newbies Section. Everything that you need to know is in that forum, for the most part. It's a lot of reading, we know, but this credit stuff can have a steep learning curve. In no time, you'll be posting like the pros!
  • If you find that someone is discourteous to you, use the REPORT button at the top right of every post - that will ensure that a moderator or admin looks at the post and decides if it is against the TOS.
  • Off -topic posts should go in the General Forum.

 

Again, welcome to the CreditBoards family!

 CB Admin:  Pam, MarvBear, radi8, LKH & 😇breeze😇

 

Link to post
Share on other sites

Ae these federal or private loans?

 

If federal, they can be rehabilitated after 9 months of on time payments. Call the CA handling your loan(s) and indicate that you want to rehab them. Important to note: this is a one shot deal. If you don't follow through on the agreed plan, this opportunity won't come around again.

Link to post
Share on other sites
19 hours ago, Jakay26 said:

Hi! Ive had some student loans go into collections unfortunately. Has anyone had success in rehabilitating student loans once they go to collections?

As long as you have never been through the rehab process, it is (or at least used to be) relatively simple.  You had the discussion via phone with them, made the required payments and then you were free to consolidate elsewhere with the old derogatory data being removed. 

 

Oh, and not all defaulted loans actually go to a traditional third-party.  Some still remain with the agency that originally underwrote the loans...

Link to post
Share on other sites

Yes, they’re all Federal loans. I’ve never been through a rehab process either. Ive noticed that I have racked up several, several late payments on the accounts, like 14 total accounts. Once rehabilitated, will the late payments and/or other negative information be removed?

 

Link to post
Share on other sites

from the FSA website:

Benefits of Loan Rehabilitation

When your loan is rehabilitated, the default status will be removed from your loan, and collection of payments through wage garnishment or Treasury offset will stop. You’ll regain eligibility for benefits that were available on the loan before you defaulted, such as deferment, forbearance, a choice of repayment plans, and loan forgiveness, and you’ll be eligible to receive federal student aid. Also, the record of default on the rehabilitated loan will be removed from your credit history. However, your credit history will still show late payments that were reported by your loan holder before the loan went into default.

Link to post
Share on other sites
  • 2 months later...
On 10/29/2020 at 8:48 AM, Aliiy said:

Yes I am requesting assistance for relief of outlet from student loans on my credit report from 9 years ago that's holding me back from acquiring  my dream house and car.

Hey, I know of a program that helped me and I was able to get my house. I have all the details if you want it?

Link to post
Share on other sites
  • Admin
3 hours ago, Joelle13 said:

Hey, I know of a program that helped me and I was able to get my house. I have all the details if you want it?

Post them publicly.  Don't hide useful information behind the scenes.  And more importantly, do not promote any CRO.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Member Statistics

    • Total Members
      180,189
    • Most Online
      2,046

    Newest Member
    Elamarrj72
    Joined
×
×
  • Create New...

Important Information

Guidelines