matt2402 Posted May 8, 2003 Report Share Posted May 8, 2003 My equifax FICO is 619. How bad is that? Sorry for the ignorance here...I'm new to the board.Thanks? Link to comment Share on other sites More sharing options...
kb9tbq Posted May 8, 2003 Report Share Posted May 8, 2003 You are in a do able range; but higher is better Scores usually range between 300 - 900. 680 will put you real good & 720 will set you for best rates possible.So there is your goal; shoot for 700's since this scores you see will differ from lender; better to be safe than sorry when the score you see can be 20 - 50 points off from what the lender sees. Link to comment Share on other sites More sharing options...
matt2402 Posted May 8, 2003 Author Report Share Posted May 8, 2003 Thanks for your message, I appreciate it. I also just completed a student loan rehab, I'm hoping when that info goes to my credit report, my FICO will increase at least a little. Do you have any experience here? Thanks so much for your reply! Link to comment Share on other sites More sharing options...
Shawnimal Posted May 8, 2003 Report Share Posted May 8, 2003 I've read that helps a lot. I'm in rehab now. 4 months down, 8 to go. Link to comment Share on other sites More sharing options...
matt2402 Posted May 8, 2003 Author Report Share Posted May 8, 2003 Good luck on the rehab. I did mine through American Student Assistance. I'm really hoping it raises my FICO...at least a little. Good luck on yours! Link to comment Share on other sites More sharing options...
Georgia Posted May 9, 2003 Report Share Posted May 9, 2003 I did a student loan rehab a few years ago. It was one of the best things I ever did. It never is reported on my credit reports at all now. They must have done full deletion everywhere. So, that was good for me! Good luck Link to comment Share on other sites More sharing options...
willow Posted May 9, 2003 Report Share Posted May 9, 2003 Can you explain what a "student loan rehab" is? My loan has $2500 left but lots of 30/60/90 day lates from two years ago.Thanks,Willow Link to comment Share on other sites More sharing options...
techgoddess Posted May 9, 2003 Report Share Posted May 9, 2003 Student loan rehab is when you set up arrangements to make payments on your defaulted student loan. After a year of on-time payments, they agree to remove all of the derogotory entries from your credit report. Link to comment Share on other sites More sharing options...
willow Posted May 9, 2003 Report Share Posted May 9, 2003 Ah...thank you. I self-rehabbed so I am going to attempt a goodwill letter.Willow Link to comment Share on other sites More sharing options...
Shawnimal Posted May 9, 2003 Report Share Posted May 9, 2003 I don't think you can "self-rehab." It's like a test they grade you on. You have to call and say, "okay, test me...." then they see if you make the 12 months of on-time payments of the amount they designate.You can just pay it off, or make 6 double-size payments, etc... they're particular.I doubt a goodwill will work... student loans are TOUGH. Rehab (or wait 7 years) is one of the only ways to go. Link to comment Share on other sites More sharing options...
kb9tbq Posted May 9, 2003 Report Share Posted May 9, 2003 Good will is worth a try; there have been others prior that have succeeded with these. Yes they are hard ones to deal with. Link to comment Share on other sites More sharing options...
Recommended Posts