What is the best way to fight student loans handed to different collectors? I originally started with 3 student loans from BTI Serv on my Exp rep these got deleted and they handed all 3 to Off Stu Fin/FLA and they passed it on to Nelnet loans and they even added a fourth neg acct. They all have the same acct # just different opening dates. So I started with 3 and I disputed them and now I have 7 please help
I just completed the Student Loan Rehab program (12 consec mthly payments, never a day late) and it removed my student loan from default status. Gradually, all the previous lenders are dropping their derogs, YAY! My advice would be to jump into a Loan Rehab program immediately, no it is not a quick fix, requires 12 reg pmts, but is a sound shift in mindset to eventually drop all the derogs. I have *heard* that sometimes a student loan lender will let you make 12 regular payments, only two weeks between each payment, so that way you are rehabbed in 6mos instead of 12. Anyways, other than that I dont have a lot of advice. I tried the normal dispute as 'not mine' etc with the CRAs and never got anywhere. Now I am disputing as 'Rehabbed through company xxxxx, please remove all derogs' and it is working! The BIGGEST derogs should be coming off in the next couple of weeks and I cant wait for that. I sympathize with the pain of seeing one student loan 'multiply' and completely trash your CR, but over time you can DEFINITELY get back to where you were before, with one loan, minus the derogs.
I am very new to this and it sounds great but how do I get started who do I contact? What kind of payments are you making? Please help, sorry for the ignorance.
The question here is, have your loans been consolidated? If they have not, you can consolidate the loans, have them taken out of default and rehab, and they won't look so bad on your reports. Add to that the fact that you can request forebearance on the loans as well when they are consolidated. Check here: http://www.loanconsolidation.ed.gov/borrower/beligible.shtml
Actually, I knew nothing about the Loan Rehab program until I had completed it! LMAO The lender (NYHESC) asked me to start making $100/mo payments. (The loan had been wittled down to only $5,000). So I made payments for 12 months straight. Then I noticed that NYHESC had started calling my house (Caller ID). Then I got a letter from them telling me that if I signed the Loan Rehab App, I had already made sufficient payments to mark it as COMPLETE. Needless to say, I copied it, signed it, copied it again LOL, faxed it, and followed up so that it went as FAST AS POSSIBLE. 2-3 weeks later, I got a letter from NELNET introducing themselves as the new loan owner. I got additional paperwork, got NYHESC to send me a letter confirming I had satisfied my agreement with them, and started my disputes, and now derogs are coming off. If I had known about the Loan Rehab program, I would have signed up a LOOOONG time ago. I am not sure what qualifies for this program. Mine was a fed'l loan (Stafford), if that helps. It is my understanding you can contact your current lender and ask to be in the program. Anybody else have info?
Why rehab when you can consolidate? When you are in rehab you can't request forbearance or deferment (if you are in school and qualify). I didn't know about consolidation until AFTER I was in rehab. "So, Mr. Lender, let me get this right. If I consolidate with you, you'll drop my interest, drop the default status, take me out of rehab, and let me get a forebearance which defers my payments for a year?" Needless to say, I consolidated ;-)
this is odd. i checked my CR again (as i do all the time) and nelnet has pulled a soft on my EXP. i do have student loans but they are all up to date. oh well, they have some 'slaining to do because i sent them a non-PP.
Conso doesn't necessarily remove previous derogs from reports. It reports as a new tradeline. Do you have insight on how to get the old accounts off my report. 30ft
Re: Re: student loans passing hands Mine dropped after disputing. I had SIX that were in default (6x3 CRA reports ain't good), and disputing made them disappear within 3-4 months. Talk about a score bumper!!!
Re: Re: student loans passing hands nope....it was citibank. and then i consolidated them (never any lateness), but no nelnet. i've never heard of them until yesterday.
Does your credit determine whether you can consolidate student loans? What if the credit report lists : Claim filed with government in the status line. When you consolidate does it immediately turn into a good report or does it take 12 months and do the other neg items come off?
Re: Re: student loans passing hands matter of fact, they pulled it 2 times (once in march and once in july). i wished i had noticed that before i sent my letter.
Re: Re: student loans passing hands Dispute!!!! It might have been sold from CitiBank, but nonetheless, they should have told you that already ;-)
Re: Re: student loans passing hands Not determined by credit, done by the government. They don't pull your report, they just require that you have a student loan that qualifies. Follow the link that I put above for more information on the qualifications. The consolidation takes your loans out of default. When my consolidation happened, the originating bank reported the loans as "paid", but on two reports it was "paid/late" I9. So, I disputed, and disputed again until it was gone. Now they've all gone bye bye, and the current consolidated loan shows on only one report as "paid as agreed, never late" although I've been in forebearance since I consolidated (2.5 years now).
Re: Re: student loans passing hands in my non-PP to nelnet, i demanded that they remove the inquiry. should i dispute it with EXP simultaneously?
