I have 4 student loans that I consolidated recently, they were charged off by chase manhattan bank. I was wondering how I could have them removed from my reports. any ideas?
After you have made 12 payments on the consolidated loan, send the proof to Chase and ask for them to update the their tradelines. In the meantime, you might begin disputing with the CRAs. Check out: http://www.carreonandassociates.com/stuloanrehabact.htm
leo, I would also suggest disputing the Chase lines on your credit report. I have had several student loans fall off from simple disputing. EdG
I am doing that also edg, it comes back updated as; sold/ 0 balance. but all the negative info is still there.
Hmmm... I thought you had an option to "rehab" or "consolidate" a loan and that "rehab" was the only way to get the negs to go away. I was told consolidation will bring it current BUT won't help in getting the negs to go away. Marci knows alot about this subject also.
Do the loans report with all 3 CRA's? When were they charged off? Another strategy I'm trying is to make the 12 consecutive on time payments on my loans after consolidation. Typically loan rehad is done before consolidation. I'm trying the reverse, who knows maybe it will work. I'll know in a few weeks. EdG
The Higher Education Act (HEA) says nothing about consolidated loans being ineligible for rehabilitation. If you read it, it seems that the law is on your side. Make your twelve on-time payments and be ready to fight if you have to.
I didn't rehab the loans before I did the consolidation. the charge offs report to all 3 cra's since 1999. I am in the process of disputing them. I wonder if I can pfb chase and ask them to remove the bad info. Anyway, the charge offs are scheduled to drop off my reports by the end of 2005. So thats only 3 years away. And also, I am actually talking about my girlfriends credit reports here. My credit is doing o.k. thanks to creditnet.
I disputed my paid past due student loans and got the tradelines deleted. I have one remaining and was thinking of adapting the "nutcase" letter to assist me in removing it.
