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Student Loan - Rehabed
Posted 01 October 2003 - 01:49 PM
Surely "rehabed" loan on my CR can't be good for my score right?
Posted 01 October 2003 - 01:58 PM
I have 5 TL's on my CR concerning SL's. One is for the original big amount that says collection acct, then the 4 loan accounts. I was wondering if the first one would be taken off too.
Posted 01 October 2003 - 02:11 PM
I hate the way they report defaulted loans...they don't just do it once, its like you said...the full amount and then each sep. loan has its own trade line...negative of course.
I am thinking having all that crap removed should be good for anyones score. I have been told before that the student loans were hurting my credit pretty bad because of the way they have listed them on my CR. I wonder if you could make them delete all the ones except for the one amount (total loan amount) I mean wouldn't the others be considered repeats?
Posted 01 October 2003 - 02:19 PM
Posted 01 October 2003 - 02:24 PM
Posted 01 October 2003 - 02:29 PM
I have one TL that says Student Loan, collection account, amount owed 0, high balance 13K or so.
Then I have 4 TL's for the various loans that are anywhere form 2-3K each.
I was under the impression that all the loans will be "rehabilitated" and therefore I will have 4 new loans. If the "date opened" stays the same, there will be 4 loans that are 3 years old with no derogs. That would be better than consolidating them and only having 1 TL if I understand everything correctly.
Posted 01 October 2003 - 03:40 PM
Posted 01 October 2003 - 03:43 PM
Posted 01 October 2003 - 03:48 PM
Posted 01 October 2003 - 03:50 PM
All they have to remove is the 'defaulted student loan' from the TL - they can leave all of the late pays -- its all up to the lender you have and what they will do.
They have it listed as paid collection. 13 entires. It's killing my score.
Posted 01 October 2003 - 04:11 PM
Word to the wise; PAY YOUR STUDENT LOANS, It will come back and bite you in the - I enjoy tormenting Admin -, and leave scars.
Posted 02 October 2003 - 01:07 PM
My loans are Federal. I would hope they would delete the whole TL and start over, but now I'm worried I may get screwed. Right now they all say 120+ days late, collection account.
Posted 08 November 2003 - 06:23 PM
What could I do? What is a good letter I could send? :?
Posted 09 November 2003 - 09:20 AM
ON EQ they deleted the entire first loan and made a new TL (original date too'96) and it's now never late/open.
If anyone is in default ( i was for YEARS) and have a chance to rehab, I suggest it...it's really helped out my credit.
Hope this helps.
Mine is through Great Lakes Higher Education by the way.
Posted 09 November 2003 - 11:10 AM
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