Late payments noted on student loan

[jcs0527]

I have been trying get some serious late notations off my Credit report.

I realize this is a lost cause because even though I feel they shouldn't be there KHELSC feels equally strong that they should be there.

 

I show as 180 + days late with the last one being in 2003. But there are 30 days, 60, 90 and 120 days also showing late on those accounts.

 

I realize that the account is scheduled to go into positive status in 2010, but what sort of impact are thse lates (spread across six loans) having on my score?

 

I also realize when they drop I will lose the age so it will hurt me too I think.

[Cynic]

Student loans are required to report accurately. Your feelings do not matter.

 

No one who pays late is entitled to the same reporting as someone who pays on time,

end of story,

period.

 

I'm sure you're not eager to apply for a job with a company that has a documented history of not paying their employees on time, and I'm sure that's how potential lenders may feel about you. Your FICO score should reflect that.

[jcs0527]

Student loans are required to report accurately. Your feelings do not matter.

 

No one who pays late is entitled to the same reporting as someone who pays on time,

end of story,

period.

 

I'm sure you're not eager to apply for a job with a company that has a documented history of not paying their employees on time, and I'm sure that's how potential lenders may feel about you. Your FICO score should reflect that.

 

First, you didn't answer the question and second you do not know all the facts. I sent the forbearance and appartently they didn't receive it. As soon as they called my mother house and left a message I contacted them fixed the issue and went from there.

Over that year that I was supposed to be in forbearance I was in the hospital for a lot of time and very sick for the rest of that time. This is why I now have so many medical bills and issues that I had to file bankruptcy.

And quite honestly, I almost died so thinking that student loan was taken care of, I didn't worry about it until they called my mom. Then I immediately dealt with it.

 

My question is now that the late notations are 4 plus years old, how much are they hurting my score.

 

So before you decide to be nasty to someone on the board you should please try to remember that a person is on the other end reading what you type. You also may not have all the facts.

So it isn't my feelings that are the issues. It was my honest belief the loans were taken care of and in forbearance. I sent the letter in but they didn't get it or it was lost or whatever....

 

But hey, I could have died and then my credit report wouldn't matter. But I have chosen to be a survivor.

[cacoffer]

I realize this is a lost cause because even though I feel they shouldn't be there KHELSC feels equally strong that they should be there.

 

I had some 60 day lates with KHELSC and wrote them goodwill letters. I probably wrote about 4 to different locations and even included some of the higher-ups. I got the standard reply that we report acurately, yada yada, yada... But, a couple of weeks later, all the lates were removed! I had four separate loans with them - all of them reporting now as "never been late."

 

Keep trying. If you want, PM me and I'll send you the addresses and to whom I sent the letters to.

 

Best of luck!

[Cynic]

First, you didn't answer the question and second you do not know all the facts. I sent the forbearance and appartently they didn't receive it.

 

I've heard that one a bajillion times. Your responsibility to confirm forbearance granted before failing to make payments. Valid delinquency. That's it and don't bother with excuses that they didn't beat that into your head hard enough. They shouldn't even have to tell you that- read you promissory note next time.

 

As soon as they called my mother house and left a message I contacted them fixed the issue and went from there.

 

In other words, you failed to provide them with your phone number (a violation of your p-note BTW) so they called the last one on file. You resolved your delinquency after their collections department got your mommy on your case about it.

 

Over that year that I was supposed to be in forbearance I was in the hospital for a lot of time and very sick for the rest of that time. This is why I now have so many medical bills and issues that I had to file bankruptcy.

 

And quite honestly, I almost died so thinking that student loan was taken care of, I didn't worry about it until they called my mom.

 

Of course not. That was the problem. If you call and ask for a manager you might talk to me, and it's a definite that you'll talk to someone who has been through what I have. You haven't said anything I haven't heard, and quite frankly all the excuses and sob stories in the world got old ages ago. It's still your fault, how you feel still doesn't matter, and it's truly, honestly funny that you imagined your sob story would make me feel sorry for you. The emotional manipulative guilt-trip crap doesn't usually work on anyone who has serviced student loans for even a month. Others have said much less and gotten much further with me. I actually got a defaulted loan repurchased and the default (and collection costs) reversed earlier this week.

 

Then I immediately dealt with it.

 

My question is now that the late notations are 4 plus years old, how much are they hurting my score.

 

Again, a documented history of not paying on time is not an incentive to lend you money. The formula for your score is still a trade secret. 180+ days late on a loan that is far more collectible, and far more flexible in a hardship situation then anything any lender pulling your credit might give you is terrible.

 

So before you decide to be nasty to someone on the board you should please try to remember that a person is on the other end reading what you type. You also may not have all the facts.

 

Trust me I know. There have been many, many, many persons sobbing, screaming, begging, babbling, cursing, trying to cross-examine, lying, and trying to sweet-talk in my ear about this very topic. I still don't have all the facts, but I knew you original post was all about this game/story. Foreshadowing was clear.

 

So it isn't my feelings that are the issues. It was my honest belief the loans were taken care of and in forbearance. I sent the letter in but they didn't get it or it was lost or whatever....

 

Yep. Since you sent a letter it was taken care of. What planet are you from? You were NOT entitled to a forbearance (since you weren't dead, in bankruptcy, deployed, in DOD repayment program, awaiting teachers loan forgiveness, in excessive title IV burden, in internship or residency, or serving in Americorps) and outside of those circumstances they never have to give you a forbearance. They can give one if they choose, but even if you were entitled under law it would still be your responsibility to ensure they had received your application, that it was complete and valid, and that the supporting docs you included were sufficient before you just stopped paying.

 

All I'm hearing is emotion, ignorance, and outrageously overused, unoriginal, lame excuses that do more to prove you own negligence then anything else.

 

But hey, I could have died and then my credit report wouldn't matter. But I have chosen to be a survivor.

 

Your blindness to the triteness and transparency of your emotional manipulation attempt is highly amusing.

[jcs0527]

Thank you for your prospective. I actually haven't talked to anyone on the phone. I just emailed them through the site and explained the situation.

 

I actually have told you more than I told them because I just was making an effort to see if they would consider some grace.

 

Back then they were very nice when I called and we got everything in line and trust me I followed up to make sure everything was taken care of in the received department. Lesson learned.

 

Now I am taking my lumps because I realize I did have responsibilities.

 

I had zero income and explained that and they did pull it out of default and removed the collection costs. I wish now I had tried to wait until I got a job and rehabbed it.

Seems like that would be better now, but hind sight is 20/20.

 

I still think you can get your point across without being what I perceive as snide and hateful.

 

If I didn't have a phone, I couildn't very well provide one. I admit my mistake in not updating my address. I thought that was taken care of by forwarding. Again lesson learned.

 

 

I do not under any circumstance want any other consideration except how much this is effecting my score.

 

I feel as if you are calling me names and insulting me when you don't even know me.

It may be unoriginal but it is true and I can document it if that was all that was necessary.

 

Again aside from my feeling that I was degraded, I truly appreciate your input.

[jm1981]

 

First, you didn't answer the question and second you do not know all the facts. I sent the forbearance and appartently they didn't receive it.

 

I've heard that one a bajillion times. Your responsibility to confirm forbearance granted before failing to make payments. Valid delinquency. That's it and don't bother with excuses that they didn't beat that into your head hard enough. They shouldn't even have to tell you that- read you promissory note next time.

 

As soon as they called my mother house and left a message I contacted them fixed the issue and went from there.

 

In other words, you failed to provide them with your phone number (a violation of your p-note BTW) so they called the last one on file. You resolved your delinquency after their collections department got your mommy on your case about it.

 

Over that year that I was supposed to be in forbearance I was in the hospital for a lot of time and very sick for the rest of that time. This is why I now have so many medical bills and issues that I had to file bankruptcy.

 

And quite honestly, I almost died so thinking that student loan was taken care of, I didn't worry about it until they called my mom.

 

Of course not. That was the problem. If you call and ask for a manager you might talk to me, and it's a definite that you'll talk to someone who has been through what I have. You haven't said anything I haven't heard, and quite frankly all the excuses and sob stories in the world got old ages ago. It's still your fault, how you feel still doesn't matter, and it's truly, honestly funny that you imagined your sob story would make me feel sorry for you. The emotional manipulative guilt-trip crap doesn't usually work on anyone who has serviced student loans for even a month. Others have said much less and gotten much further with me. I actually got a defaulted loan repurchased and the default (and collection costs) reversed earlier this week.

 

Then I immediately dealt with it.

 

My question is now that the late notations are 4 plus years old, how much are they hurting my score.

 

Again, a documented history of not paying on time is not an incentive to lend you money. The formula for your score is still a trade secret. 180+ days late on a loan that is far more collectible, and far more flexible in a hardship situation then anything any lender pulling your credit might give you is terrible.

 

So before you decide to be nasty to someone on the board you should please try to remember that a person is on the other end reading what you type. You also may not have all the facts.

 

Trust me I know. There have been many, many, many persons sobbing, screaming, begging, babbling, cursing, trying to cross-examine, lying, and trying to sweet-talk in my ear about this very topic. I still don't have all the facts, but I knew you original post was all about this game/story. Foreshadowing was clear.

 

So it isn't my feelings that are the issues. It was my honest belief the loans were taken care of and in forbearance. I sent the letter in but they didn't get it or it was lost or whatever....

 

Yep. Since you sent a letter it was taken care of. What planet are you from? You were NOT entitled to a forbearance (since you weren't dead, in bankruptcy, deployed, in DOD repayment program, awaiting teachers loan forgiveness, in excessive title IV burden, in internship or residency, or serving in Americorps) and outside of those circumstances they never have to give you a forbearance. They can give one if they choose, but even if you were entitled under law it would still be your responsibility to ensure they had received your application, that it was complete and valid, and that the supporting docs you included were sufficient before you just stopped paying.

 

All I'm hearing is emotion, ignorance, and outrageously overused, unoriginal, lame excuses that do more to prove you own negligence then anything else.

 

But hey, I could have died and then my credit report wouldn't matter. But I have chosen to be a survivor.

 

Your blindness to the triteness and transparency of your emotional manipulation attempt is highly amusing.

 

Cynic, it's nice to know that you are perfect, but there is a way to get your point across without being a completely insensitive jerk.

[pryan67]

Cynic-

 

two words for you

 

 

BACK OFF...

 

 

 

one more and you get an official warning

[LKH]

I say the hell with a warning. One more *Admin removes vulgarity*ed up post talking to any member here like that will be the end. I am NOT goint to put up with this kind of crap anymore. Explain yourself in a nonjudgmental manner or don't do it at all.

[jcs0527]

And all this time I was thinking it was me...

 

Geeze.. anyone know just how really bad these lates are hurting my scores though?

[Cynic]

I say the hell with a warning. One more *Admin removes vulgarity*ed up post talking to any member here like that will be the end. I am NOT goint to put up with this kind of crap anymore. Explain yourself in a nonjudgmental manner or don't do it at all.

 

It's your site. Thanks for what you've done here. I respect your feelings. I personally feel that judgmental trash-talking is allowed here as long as it's against the banks, CAs, lenders, etc. I wonder if I had a siggy like yours but directed at debtors and consumers how long it would last...

 

Thanks for having me, and good-bye. Please disable my account.

[LKH]

I say the hell with a warning. One more *Admin removes vulgarity*ed up post talking to any member here like that will be the end. I am NOT goint to put up with this kind of crap anymore. Explain yourself in a nonjudgmental manner or don't do it at all.

 

It's your site. Thanks for what you've done here. I respect your feelings. I personally feel that judgmental trash-talking is allowed here as long as it's against the banks, CAs, lenders, etc. I wonder if I had a siggy like yours but directed at debtors and consumers how long it would last...

 

Thanks for having me, and good-bye. Please disable my account.

 

Well Cynic, apparently you don't understand that this is a PRO CONSUMER board. It isn't a "let anyone come here and bash those that are in trouble and asking for help" site. I don't know why you can't express yourself without trying to insult and demean those you are posting to. I'm not going to disable your account because you'll just register under another name. So I'll leave it and give you time to ponder whether you wish to be a helpful member here or not.

[TxQuiltGirl]

I say the hell with a warning. One more *Admin removes vulgarity*ed up post talking to any member here like that will be the end. I am NOT goint to put up with this kind of crap anymore. Explain yourself in a nonjudgmental manner or don't do it at all.

 

 

 

 

It's about time someone slapped Cynic.

 

 

 

OP - these lates are .. what? Four years old? Yeah, they are hurting you some, but they aren't doing huge damage unless this is the very last baddie you have on your CR. As old as they are, you can try a goodwill letter. Just be aware that there have been cases where additional lates have been added when someone disputed SL lates.

 

Additionally - Cynic was WRONG in his holier-than-thou ramblings. You were definitely eligible for deferment at the very least - though I do believe you would have been eligible for forbearance as well.

 

 

http://www.fafsa.com/deferments.htm

 

A deferment means there are no payments required on your student loan during an approved period. For subsidized Stafford Loans, there is no interest that accrues during a deferment period. There is no pre-payment penalty, however, at any time. For Federal Stafford/Direct Loans made after July 1, 1993, there are three types of deferments:

 

In-school Deferment - As long as the student borrower is enrolled at least half-time (as defined by the school, normally six units for undergraduates and 4 units for graduate students), no interest accrues and no payments are required until after a six-month grace period after the student ceases to be enrolled at least half-time. An in-school deferment form completed by your school's registrar staff may be required to verify your enrollment unless your school is a participant in the National Clearinghouse where enrollment data is electronically transmitted to this agency who then notifies lenders, loan servicers, and guaranty agencies.

 

Unemployed Deferment - Student borrowers may be eligible for an unemployment deferment for up to three years after leaving school. A special deferment form will be required each year.

 

Economic Hardship Deferment - If the student borrower is not eligible for one of the above two deferments, he or she may be eligible for this deferment. A borrower can not have earnings beyond the low standard of living as determined by the Bureau of Labor Statistics (BLS).

 

Deferment provisions are different for Stafford Loans borrowed before July 1, 1993. Contact your lender or loan servicer for more information about deferment and forbearance provisions. Sallie Mae and EDFUND offer excellent resources about student and parent loans.

 

and

 

A forbearance is another excellent way to manage your student loan. A forbearance permits a student borrower a temporary period of time in which he or she may not make any payments on his or her loan, pay interest only, or make a payment for less than the normal repayment amount. A forbearance must be requested from your lender or loan servicer and a forbearance form must normally be completed.

 

While it is not guaranteed, most lenders or loan servicers will try to accommodate your request so you don't go into default or have a delinquent loan repayment. The only bad thing about a forbearance is that, unlike a deferment where the government pays the interest for you, interest continues to accumulate. So if you can't make interest payments, you will end up paying "interest-on-interest."

 

With the deferment and forbearance options listed above along with the more flexible loan repayment options, there is no reason why a student borrower should fall into delinquency or default on his or her student loan. Student borrowers are strongly encouraged to maintain an organized file of all student loan records and documents and to regularly stay in contact with his or her lender or loan servicer to protect their credit rating.

 

 

Illness would certainly be a good reason to be granted either forbearance or deferment. Your terminology may not have been exactly right, but if you had spoken with your lender, they would have been able to ascertain what you needed to do. And don't let others' comments fool you - there has been more than one case of a lender making a mistake and messing up a deferment/forbearance request.

 

I hope that this answers your question. In short, it would not be a bad idea to request goodwill, for after the amount of time that's passed, you may get lucky and have the lates deleted - just don't be surprised or disappointed if they don't.

 

Good luck!

[jcs0527]

I say the hell with a warning. One more *Admin removes vulgarity*ed up post talking to any member here like that will be the end. I am NOT goint to put up with this kind of crap anymore. Explain yourself in a nonjudgmental manner or don't do it at all.

 

 

 

 

It's about time someone slapped Cynic.

 

 

 

OP - these lates are .. what? Four years old? Yeah, they are hurting you some, but they aren't doing huge damage unless this is the very last baddie you have on your CR. As old as they are, you can try a goodwill letter. Just be aware that there have been cases where additional lates have been added when someone disputed SL lates.

 

Additionally - Cynic was WRONG in his holier-than-thou ramblings. You were definitely eligible for deferment at the very least - though I do believe you would have been eligible for forbearance as well.

 

 

http://www.fafsa.com/deferments.htm

 

A deferment means there are no payments required on your student loan during an approved period. For subsidized Stafford Loans, there is no interest that accrues during a deferment period. There is no pre-payment penalty, however, at any time. For Federal Stafford/Direct Loans made after July 1, 1993, there are three types of deferments:

 

In-school Deferment - As long as the student borrower is enrolled at least half-time (as defined by the school, normally six units for undergraduates and 4 units for graduate students), no interest accrues and no payments are required until after a six-month grace period after the student ceases to be enrolled at least half-time. An in-school deferment form completed by your school's registrar staff may be required to verify your enrollment unless your school is a participant in the National Clearinghouse where enrollment data is electronically transmitted to this agency who then notifies lenders, loan servicers, and guaranty agencies.

 

Unemployed Deferment - Student borrowers may be eligible for an unemployment deferment for up to three years after leaving school. A special deferment form will be required each year.

 

Economic Hardship Deferment - If the student borrower is not eligible for one of the above two deferments, he or she may be eligible for this deferment. A borrower can not have earnings beyond the low standard of living as determined by the Bureau of Labor Statistics (BLS).

 

Deferment provisions are different for Stafford Loans borrowed before July 1, 1993. Contact your lender or loan servicer for more information about deferment and forbearance provisions. Sallie Mae and EDFUND offer excellent resources about student and parent loans.

 

and

 

A forbearance is another excellent way to manage your student loan. A forbearance permits a student borrower a temporary period of time in which he or she may not make any payments on his or her loan, pay interest only, or make a payment for less than the normal repayment amount. A forbearance must be requested from your lender or loan servicer and a forbearance form must normally be completed.

 

While it is not guaranteed, most lenders or loan servicers will try to accommodate your request so you don't go into default or have a delinquent loan repayment. The only bad thing about a forbearance is that, unlike a deferment where the government pays the interest for you, interest continues to accumulate. So if you can't make interest payments, you will end up paying "interest-on-interest."

 

With the deferment and forbearance options listed above along with the more flexible loan repayment options, there is no reason why a student borrower should fall into delinquency or default on his or her student loan. Student borrowers are strongly encouraged to maintain an organized file of all student loan records and documents and to regularly stay in contact with his or her lender or loan servicer to protect their credit rating.

 

 

Illness would certainly be a good reason to be granted either forbearance or deferment. Your terminology may not have been exactly right, but if you had spoken with your lender, they would have been able to ascertain what you needed to do. And don't let others' comments fool you - there has been more than one case of a lender making a mistake and messing up a deferment/forbearance request.

 

I hope that this answers your question. In short, it would not be a bad idea to request goodwill, for after the amount of time that's passed, you may get lucky and have the lates deleted - just don't be surprised or disappointed if they don't.

 

Good luck!

Thanks. I have another address that was PMed to me and I am going to use that. I I already disputed it with the CRA and actually it did take off some lates because they had marked some as still late after the forbearance was received. But this is a years worth of lates so I am probably out of luck. I spent a lot of time in the hospital and between my divorce and illness I wasn't much good for anything. But I went back to school and I am trying to fix it.

 

I just filed bankruptcy so I do have that baddie and I also will have the vehicle loan marked as in bankruptcy.

But there are no credit cards that I am bankrupting. I am reaffirming the two I have and their are no lates on those. Everything else I am filing on is either over 8 years old or medical bills that never reported to the credit bureau. So I didn't take out loans and credit cards that I couldn't pay while I wasn't working. I didn't even try... Someone took out some stuff but I have a police report on that and there should be no problem if those try to show up again. <crossing fingers>

So they are the baddies are hitting me pretty bad.. I can't get my score over 620 and that was BEFORE the bankruptcy... I am scared to pull it now...

[regainingcontrol1]

Also you mentioned that you were worried about losing age if you got the lates taken off. That isn't something to be concerned about because your student loan is still being listed. The age is indicative of the age of your account, not the age of your lates.

 

By getting those lates off it can only help you as long as the student loan tradeline remains on your report.

 

The other issue would be if you disputed the student loan and they deleted it. In that case you would lose age...even if it was a bad account. (this applies mostly to charge offs I think...CA accounts. I can't think of any other instances when you would want the tradeline removed.)

 

And as far as Cynic goes. OP I'm not sure what line of work you are in but imagine having a section of your customer population who you hate forming an anonymous message board. How awesome would it be to go on that anonymous board to trash them and degrade them and do all of those hateful things that you can't do to them at work because you would get in trouble...or even better, sued.

 

That is what is going on there. You just got caught up in all of it. Its not the first post where I've seen that poster step way over the line and it seemed to get really bad lately. Thanks for stepping up Mods and Admin!

Edited June 16, 2007 by regainingcontrol1

[jcs0527]

Also you mentioned that you were worried about losing age if you got the lates taken off. That isn't something to be concerned about because your student loan is still being listed. The age is indicative of the age of your account, not the age of your lates.

 

By getting those lates off it can only help you as long as the student loan tradeline remains on your report.

 

The other issue would be if you disputed the student loan and they deleted it. In that case you would lose age...even if it was a bad account. (this applies mostly to charge offs I think...CA accounts. I can't think of any other instances when you would want the tradeline removed.)

 

And as far as Cynic goes. OP I'm not sure what line of work you are in but imagine having a section of your customer population who you hate forming an anonymous message board. How awesome would it be to go on that anonymous board to trash them and degrade them and do all of those hateful things that you can't do to them at work because you would get in trouble...or even better, sued.

 

That is what is going on there. You just got caught up in all of it. Its not the first post where I've seen that poster step way over the line and it seemed to get really bad lately. Thanks for stepping up Mods and Admin!

LOL I have pretty thick skin... I just gave my what for somewhere else.

 

Anyway, If I consolidate the loans and they drop off because they are old then I would lose the age right? I will try a goodwill, but I am not hopeful.

If it happens great, if it doesn't well I will just wait three more years. By then my bankruptcy will have aged and hopefully other things will be worked out with new cards and such