Scvbd99, my goal is to need to disagree with you. We finished rehabbing my loan in might and TU and EX have https://1hrtitleloans.com actually deleted the old tradelines totally (waiting on EQ). They certainly were changed by tradelines utilizing the brand new loan servicer dating back once again to once I originally took out of the federal figuratively speaking with a “pays as agreed” status with no late re re payments. They really show no re re payment history on it. My understanding is the fact that it isn’t really the outcome with everybody else (having the old tradelines removed), nevertheless the brand brand new tradelines will back date. Theoretically, all they need to do is eliminate any reviews showing that the loans had been ever in standard, however some do a lot more than that.
Absolutely nothing you said has any applicatiion to my reponse into the opening post.
I stated that unpaid student education loans remain on your credit history indefinitely, and I also’m maybe perhaps maybe not rendering it up. Your loans that are rehabbed stay unpaid will always be on your own credit history, right? The financial obligation does not disappear completely, and neither does reporting on that financial obligation on your credit history. After rehab, your debt simply gets a brand new servicer, as you stated.
Anyhow, the person i taken care of immediately said absolutely nothing about rehab.
In terms of that which you’re saying (which once again, has nothing at all to do with this thread) whenever you rehab that loan, all details about it ever having held it’s place in default is requried to disappear completely for legal reasons. Just about any deraugatories removed are 100% as much as the CA/servicer. Actually, I experienced 18 defaulted student loans that i rehabbed, and 15 of these had the belated payment history before default eliminated. The other 3 would not budge, and left my payment history that is late on. It absolutely was completely worth the rehab process, though.
And yes, of program you can get brand new tradelines for every single defaulted loan you can get rehabbed whenever it gets a brand new servicer. It is pretty awesome.
800+ for many 3 CRAs.
Took 4 years after rehabbing a number of defaulted student education loans, but completely worth every penny.
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I assumed you had been referencing the post above you that suggested rehabbing as a choice. My blunder.
FICO8 ratings at the time of 8/8/17: EQ-643 TU-644 EX-629
Current FICO8 ratings as of54/7/18: EQ-668 TU-651 EX-652
Current home loan ratings: EQ-681 TU-655 EX-648
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We really have no clue in the event that OP could be in a position to rehab te loan in concern. Whether or not it’s a qualifying loan kind, i’d bet as it had never defaulted before that he could so long. It is possible to just rehab a qualifying loan when.
800+ for several 3 CRAs.
Took 4 years after rehabbing a lot of defaulted student education loans, but completely worth every penny.
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Although some figuratively speaking (Stafford) can’t be reported after 7, they could tax intercept the hell away from you until it really is reduced.
They could also Tax Warrant (Lien and Levy) you too.
That literally means they could sieze your checking and savings reports, genuine home, an such like, in the event that you go too much time.
I happened to be significantly lucky, as 1 / 2 of my education loan 15 years back that I experienced deferred after which been payments that are making, had been forgiven because of the University being sued for fraud.
So my education loan reports reveal because paid as agreed (moved to a different working office) from the time they were forgiven.
They fall off quickly, so bye bye free low priced bump ever sold, but those had been Stafford and if I defaulted they could take all of the steps above including private collections until they were forgiven I kept getting annual notices that.
One other kinds of Federal Student Loans (Perkins) are resistant through the 7 12 months guideline and can appear literally forever because happens to be stated before.
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