Has anyone had success rehabing a sl?

[jilliep80]

I have been in rehab for 5 months. Next month I am going to call the guy who is handling my reha to see if we can start finding a lender so that when 9 months is here I don't have to worry about it.

Has anyone had success rehabing their sl? I have like 6 TLs from my loans that are negative. Anyone have their negative TL removed? I read a lot abut people with no success on rehabing just looking for some opposite responses>

Thanks in advance,

Jillie

[LynnInMN]

You do not have to do anything....the guarantor takes care of all that.

[AboveAverage]

I am still waiting for my rehab. My guarantor tells me they will get rid of it by this month (but no set date). I have made 10 payments and I'm above $500.

I'm hoping someone takes it so I can pay it all in one (probably 2) shot(s).

[Cynic]

With your balance below 1k don't hold your breath.

[AboveAverage]

With your balance below 1k don't hold your breath.

I lived up to my half of the bargain. They should live up to theirs. $500 was the minimum balance I needed to qualify for rehab. I won't hold my breath hopefully for very long.

[Cynic]

Actually, if you had lived up to your end of the bargain you wouldn't be in default.

[AboveAverage]

Actually, if you had lived up to your end of the bargain you wouldn't be in default.

I won't take your condescending attitude, mister. Leave your editorials in the toilet where it belongs. If my life was so perfect like yours, I wouldn't even be here reading, writing and responding to you.

[Cynic]

It's not your money, and your p-note is not something you can bargain about.

You can refuse to accept reality until the cows come home, but the truth is that your feelings, your beliefs, and your self-indulgent perception of what is fair mean absolutely nothing.

Federal regulations are not subject to individual negotiation. You don't have a balance of 1k, and therefore no one is legally compelled to sell (or repurchase) your loan.

/solo violin

QQ

[AboveAverage]

You guys definitely say the correct thing...I can't take that away from you.

But I will not object or cry if either one of you get smacked in the face very hard for the way you speak to folks.

I guess one has to balance if it's important to hear useful information in a smartass, rude tone, or would rather hear nothing at all if it meant the person's nice. Still though, I suspect that both of you get a kick out of going to debtor boards and kicking folks while they are down under the guise of giving folks what are at times very useful information in the way federal loans work.

No matter to me though. I'll know by Friday what the deal concerning my loan.

[AboveAverage]

Hey I spoke the rules, not rudely. Maybe is time that REALITY bites you in the a$$.

Trust me, lady, it has.

You both speak with a tone that outside of the comfort of the Internet really upsets people to the point where bodily harm would definitely be warranted. I won't be the first or last person to ever say so.

Credit repair is a very emotional thing for many people. Myself included. There were issues that I was going through that prevented me from honoring my original promissory note. Honestly, does that make me evil? You and Cynic would seem to think so on tone alone. I don't need either of you to make me feel like s--t...I already do a fine job of that by myself because of the mess I made. I would never tell you to have sympathy or empathy where none exists, but at the same time, "If you have nothing nice to say..."

Now I am trying to correct my past [credit] wrongs. And while I may not have worked in the Financial Aid industry...I will be able to counsel folks both here and in real life to avoid a student loan default like you would avoid AIDS.....

[newbie7069]

Actually, if you had lived up to your end of the bargain you wouldn't be in default.

This comment is completely uncalled for and inflammatory. Please limit your posts to actually answering the questions presented without judgment.

[Cynic]

This comment is completely uncalled for and inflammatory. Please limit your posts to actually answering the questions presented without judgment.

No, they opened the door by making the assertion that they had "kept their end of the bargain". I find that statement to be inflammatory, since it's a blatant lie per OPs own account of what has transpired.

Stating a fact (or pointing out an obvious conclusion based on what OP has stated that does not contradict everything else they said) is not passing a judgment

[AboveAverage]

No, they opened the door by making the assertion that they had "kept their end of the bargain". I find that statement to be inflammatory, since it's a blatant lie per OPs own account of what has transpired.

Stating a fact (or pointing out an obvious conclusion based on what OP has stated that does not contradict everything else they said) is not passing a judgment

What I had meant was that I had "kept my end of the bargain" moving forward in terms of making 10 on-time payments since my student loan was in default and then moving forward expected to have the SL "rehabbed". I don't know about the OP, but I did not lie about that.

Did I allow my SL to default due to personal financial difficulty? Yes I did. Am I sorry (which really is irrelevant)? I am, truly.

Would I go into default again? No, I won't for I really did learn my lesson.

One thing you need to understand (and mind you, just understand, not necessarily like), is that not everything is so black and white. Yes there is a promissary note that you sign when you get a loan, and yeah the terms are clear. But it could be a decision between eating one day, or paying your note off. I made terrible choices as many of us had. I can't change what I did yesterday, but I can make a choice to better myself today and going forward to make sure I don't make those same bad choices again. I am sure others feel the same way.

[jilliep80]

I have been in rehab for 5 months. Next month I am going to call the guy who is handling my reha to see if we can start finding a lender so that when 9 months is here I don't have to worry about it.

Has anyone had success rehabing their sl? I have like 6 TLs from my loans that are negative. Anyone have their negative TL removed? I read a lot abut people with no success on rehabing just looking for some opposite responses>

Thanks in advance,

Jillie

No, they opened the door by making the assertion that they had "kept their end of the bargain". I find that statement to be inflammatory, since it's a blatant lie per OPs own account of what has transpired.

Stating a fact (or pointing out an obvious conclusion based on what OP has stated that does not contradict everything else they said) is not passing a judgment

What I had meant was that I had "kept my end of the bargain" moving forward in terms of making 10 on-time payments since my student loan was in default and then moving forward expected to have the SL "rehabbed". I don't know about the OP, but I did not lie about that.

Did I allow my SL to default due to personal financial difficulty? Yes I did. Am I sorry (which really is irrelevant)? I am, truly.

Would I go into default again? No, I won't for I really did learn my lesson.

One thing you need to understand (and mind you, just understand, not necessarily like), is that not everything is so black and white. Yes there is a promissary note that you sign when you get a loan, and yeah the terms are clear. But it could be a decision between eating one day, or paying your note off. I made terrible choices as many of us had. I can't change what I did yesterday, but I can make a choice to better myself today and going forward to make sure I don't make those same bad choices again. I am sure others feel the same way.

I just asked a simple question. Cynic, you obviously didn't read what I posted. All I asked was if anyone had success rehabing a loan.

[AboveAverage]

I just asked a simple question. Cynic, you obviously didn't read what I posted. All I asked was if anyone had success rehabing a loan.

Jill, you will get a letter similar to the one below after your rehab is done. It was a mental pain in the butt, but I finally got through it. Time really seemed to go slow...but I made it out ok. I got my default removed, and my next payment is in the end of May. They have me down for 11 payments of 50 bucks and 1 payment of 43 and some change...I might actually do that, instead of paying it off quick as student loan debt is "good" debt. It depends on how I feel though. Anyway, here it is below:

Dear AboveAverage,

We would like to advise you that since you have successfully completed the rehabilitation program with NJHESAA, your loan listed below has been transferred to AES for servicing on behalf of the current holder of your loan, NJHESAA.

Stafford Loan, Principal balance $570.66, Interest Rate 8% Loan Status Repayment

[jilliep80]

Thanks Above Average,

Heres my next question, My student loans are not reporting on TU. Did this happen to you? I was surprised. Actually none of my baddies are reporting on TU at all, hence TU is my best report.

Anywho...On my EQ report I have 4 tls from AES two are CO's and two are collections. On EX I have only two TLs for AES and these are reporting as key derog. not as a co though.

Do you think they will remove all 4 on EQ or at least make them look pretty or will I have 2 good ones and 2 bad ones?

Thanks,

[AboveAverage]

Thanks Above Average,

Heres my next question, My student loans are not reporting on TU. Did this happen to you? I was surprised. Actually none of my baddies are reporting on TU at all, hence TU is my best report.

Anywho...On my EQ report I have 4 tls from AES two are CO's and two are collections. On EX I have only two TLs for AES and these are reporting as key derog. not as a co though.

Do you think they will remove all 4 on EQ or at least make them look pretty or will I have 2 good ones and 2 bad ones?

Thanks,

The only baddie as it relates to my Student Loan comes from AES and they are only on EX. Not on EQ and not on TU. I do have a Positive AES from my smaller AES loan (the one I have never talked about.....but prior to the bad loan in question, I did make good on my $875 loan I took out. I paid that with two checks and it's been showing as paid/never late closed). But EX only has my one bad loan. My HESAA default TL is gone...

Now here is the bad news. The default is gone, but based on what other folks have told me, the original bad loan from AES is still there and can remain there for 10 years (for me, it's supposed to go away at 2010). Now what I might do is see if AES can hook me up by kissing some behind (i.e. a Goodwill Letter), or just disputing it outright and hope EX makes it fall off. But the deal is for just the Default, not the original baddies. To get rid of the original baddies, it might have to be regular disputes. Does that make sense?

[jilliep80]

Yeah That makes sense. I guess I will have to wait and see what happens in Aug/sept. I wish they aere only reporting on my EX!! Oh well at least they are not on TU.

Did your tl's update already? (after your rehab period that is?) Also were you paying DCS? That is who I am working with. At first the guy was a real prick, but now he seems ok!!

[AboveAverage]

Yeah That makes sense. I guess I will have to wait and see what happens in Aug/sept. I wish they aere only reporting on my EX!! Oh well at least they are not on TU.

Did your tl's update already? (after your rehab period that is?) Also were you paying DCS? That is who I am working with. At first the guy was a real prick, but now he seems ok!!

The default TL is gone, but the original baddie is still there and my new TL did not show up yet. My first payment is set for end of May for $50, and I already set up a payment with my bank's bill pay to occur a week before (in case there is some problem but AES has been setup with my bank to receive my money next day delivery). Then it's 4 weeks from that payment. I have 11 $50 payments and then my last one is $40 something. I'm gonna do it like that for a while until I see some extra money coming in then I will just pay it off...I keep going back and forth as to pay it all in one shot or pay it monthly. AES is who I am dealing with from now on and I have my account number with them and everything.

[Magdalen77]

Thanks Above Average,

Heres my next question, My student loans are not reporting on TU. Did this happen to you? I was surprised. Actually none of my baddies are reporting on TU at all, hence TU is my best report.

Anywho...On my EQ report I have 4 tls from AES two are CO's and two are collections. On EX I have only two TLs for AES and these are reporting as key derog. not as a co though.

Do you think they will remove all 4 on EQ or at least make them look pretty or will I have 2 good ones and 2 bad ones?

Thanks,

The way AES is reporting for me I have four good ones and two bad ones on EX. EQ has none and TU has one closed good TL. The four good TLs on EX are the two new good ones from rehab and two old closed, pre-consolidation TLs. The two bad ones are my pre-rehab accounts. The two old pre-consolidation TLs were just recently changed from charged off/bad status to closed/never late. (if you remember my previous posts, AA, yep, they finally fixed it).

[AboveAverage]

The way AES is reporting for me I have four good ones and two bad ones on EX. EQ has none and TU has one closed good TL. The four good TLs on EX are the two new good ones from rehab and two old closed, pre-consolidation TLs. The two bad ones are my pre-rehab accounts. The two old pre-consolidation TLs were just recently changed from charged off/bad status to closed/never late. (if you remember my previous posts, AA, yep, they finally fixed it).

So if I read what you are saying correctly, Mag, if I contact AES and talk to them about my bad TL on EX, they would make it never late like they did with you? I had called AES and asked about the form and they said they weren't familiar with one?

I would really like that TL to be fixed to be never late. I didn't think it was possible because it's accurate reporting, but do you think they'd hook a brother up?

[Cynic]

Grats Mag!