Hi, I have some problem with student loan which in defaulted long ago. I did pay monthly to Granty Agency. Now I have $4000 to go. But after I called them asking that I am going to pay in full and asking them to remove my loan record. They said they can't do that, all they will only report Zero Balance and that record will show 7 yeras. I would like to know if it's true that they can't remove my loan record even I will pay in full?? Or is there other way to make it remove? Please advise. Thanks in advance.
According to the loan rehab rules I read, you must make 12 on-time monthly payments, no ifs ands or buts. I would like to pay my loan off, the balance is small, but I want it removed from my credit report so I am going to make 12 monthly payments of less than $100 to do it...
Thank you. I think I am going to ask for rehab program. Not sure if my agency will apply for this rule. Thanks again.
If it s a Federal Student Loan of any sort, I don't believe the agency has a choice. It is a program to rehab the loan. The account had to have been turned over from either a Univ. or lender. The agency that has my account is actually sending everything to the Univ., but payments in my case have to be made to the agency... very odd. Anyway, you can read more about the rehab program by going to www.ed.gov and look for a link about direct loans.
I just called the agency. They told me that I am consolidated already. I guess I have no choice to remove the loan record from my credit report.
