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FedLoan late Payment


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5 replies to this topic

#1 touchgirl

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Posted 14 September 2017 - 09:35 AM

I have 11 small student loans all with FedLoan.  Every month I would receive the bill via email and set up the payment for a date 1-2 weeks in the future (always before the due date).  For some reason one payment did not go through, which resulted in my account going 90 days late times the 11 accounts.  The result was a 155 point drop in my credit score.  yes, a 155 point drop.

 

Since that time (and before that time) I had never been late. 

 

I have written 2 different good faith letters (1 year apart) to FedLoan requesting they remove the late payments, explaining the above and how it was hurting my score.  Both times they have responded with "It is our duty to report correct information and this information is correct".  I also disputed it directly with the CRA's with no results.

 

Do you have any other suggestions?  I read somewhere that another poster had received a forebearance which covered the late payments, but my lates go back to the middle of 2015.  Should I request a forebearance? 


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#2 tiggerlgh

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Posted 14 September 2017 - 09:13 PM

How did one missed payment make you 90 days late?

Were you running 60 days late constantly then the additional late payment causes the account to go 90 days late? It's not uncommon for student loans to not to report the 30 and sometimes 60 Day lates but will when seriously delinquent at 90.

As for getting rid of them if accurate is near to impossible.
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#3 touchgirl

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Posted 20 September 2017 - 09:22 AM

How did one missed payment make you 90 days late?

Were you running 60 days late constantly then the additional late payment causes the account to go 90 days late? It's not uncommon for student loans to not to report the 30 and sometimes 60 Day lates but will when seriously delinquent at 90.

As for getting rid of them if accurate is near to impossible.

I just pulled out my credit report and confirmed all three reports ONLY show 1 90 day late.  No 30 day, no 60 day, just one 90 day.


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#4 tiggerlgh

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Posted 20 September 2017 - 12:06 PM

How did one missed payment make you 90 days late?

Were you running 60 days late constantly then the additional late payment causes the account to go 90 days late? It's not uncommon for student loans to not to report the 30 and sometimes 60 Day lates but will when seriously delinquent at 90.

As for getting rid of them if accurate is near to impossible.

I just pulled out my credit report and confirmed all three reports ONLY show 1 90 day late.  No 30 day, no 60 day, just one 90 day.

Yes that is what I was saying they will sometimes give you a grace period on reporting late so the early defaults don't show. Were you continually running behind? What do your statements show?
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#5 bama

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Posted 23 September 2017 - 08:46 PM

That's common with Fedloan. Mine shows 90 day with no 30 or 60. And I've taken it all the way to the Ombudsmans with no luck, even thought they back dated a deferment and I have the back date in writing. They still one remove it because technically it WAS 90 days late then, even if it shouldn't be considered that way now.  Mine went out of deferment and I didn't realize it. I got a financial hardship deferment in place that COVERS those dates and still no dice. 


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#6 touchgirl

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Posted 28 September 2017 - 10:21 AM

That's common with Fedloan. Mine shows 90 day with no 30 or 60. And I've taken it all the way to the Ombudsmans with no luck, even thought they back dated a deferment and I have the back date in writing. They still one remove it because technically it WAS 90 days late then, even if it shouldn't be considered that way now.  Mine went out of deferment and I didn't realize it. I got a financial hardship deferment in place that COVERS those dates and still no dice.

can you share how you got to an Ombudsman? I once again disputed it and they again sent me a form to complete. This time I stated the loans were in deferment and I pay according to the invoices they sent me, so I couldn't be late. I do believe this to be possible. Let's see what happens
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