Lates after forbearance?

[MELDISHA]

i have 2 student loans, one with nelnet, and the other with dept. of education, both loans have reported 120 days late. (Reported 9/2003) Now they are in forbearance, will the late payments not show up and be reported as in forbearance or will the lates still be on there. Is there a way to get them off or am I stuck?

[kb9tbq]

I have seen student loans on credit reports that will show below them in the notation part:

Deferred: Start Date ....

Can't rightly remember on seeing the lates being reported... but my guess you might at least see the notation added.

[awolcott]

According to regulations put in place by the Department of Education a forbarance will no remove any past late reporting, but it will stop any further reprorting.
After that said....If you can qualify for a deferment such as economic hardship or unemployment (Which most companies do not require proff) during the time it was reported the lender has to remove these reportings. Anytime you can qualify for a deferment then your credit will be restored.
Let me know if you have any questions.

-Adam

[Ravenous Wolf]

According to regulations put in place by the Department of Education a forbarance will no remove any past late reporting, but it will stop any further reprorting.

AFSA told me that I needed to get a forebearance as soon as possible to stop what late payments could do to me (collections, etc...).

[multifoiled]

I'm in the exact same situation. I recieved a forb. retroactively with Nelnet (aka "numbnuts") but my reports still show late payments. Nelnet repeatedly lost my paperwork and pay stubs and finally admitted their mistake. I'm going to try disputing the late payment notations with the CRA's. If Nelnet verifies, I'll write them directly and ask nicely that they remove the notations. If they refuse, I'll write back and suggest they're ineptitude has caused me harm and I may sue. Not the best plan in the world, but if the office that reports to the CRA's is half as messed up as I think they are, they probably won't verify.

The Dept of Educ. is another story. They seem to be on the ball and will probably verify. My late pay status was due to a misunderstanding on my part, so I may be able to appeal to their sense of charity but I can't threaten them like Nelnet.

I'm a total newbie here (this is my first post) so I'm in no position to offer advice. But, perhaps you could dispute the late pay notations with the CRA's. If they get verified, maybe you could write to Nelnet and D.O.E. and grovel or remind them your financial success=money for them. If your credit is bad, you can't get certain jobs and apartments and you may never be financially stable enough to repay.

One more thing - be sure to submit your forms to Nelnet at least a month before you go into repayment. They lose anything that isn't a check! If you don't get a reply within a week or two, call and make sure your forb./def. has been approved.

Just a thought . . . good luck. I'm disputing my late pays next month, I'll tell you how it goes.

[Ravenous Wolf]

I'm in the exact same situation. I recieved a forb. retroactively with Nelnet (aka "numbnuts") but my reports still show late payments. Nelnet repeatedly lost my paperwork and pay stubs and finally admitted their mistake.

If can get them to admit to their mistakes in writing, then you might actually be on to something. Ask them to send you something in writing stating that mistakes were made on their part and that you need that letter right away. If you have to, make up some story that you need this letter right away to apply for more loans to go back to school, blah...blah...

The CRAs love supporting documentation. If you can get that in your hands, that will probably work a lot of faster on getting something corrected.

[DocDon]

You can also ask them to remove the lates. I've done this a couple times with Great Lakes. I asked them to make the forbearance retroactive from the time it went late and they updated the reporting for me. Worth a shot.