payments-since » Mortgage and Insurance

I am new to this site and could use some advice.Â I have aÂ creditline account with a $10,000 balance that is currently showing 30 and 60 day late payments since July of 2010 and my credit score took a nosedive.Â I have been trying to work out a payment schedule for the past year to bring this account current, and they are finally reviewing it to see if they will move the past-due amount to the back end of the loan and bring the accountÂ current, but they will not budge on removing the late payments thatÂ have beenÂ reported.Â I made a double payment in August of 2010 and have been making monthly payments since October 2010, but have not been able to bring it to current.Â

I have received a small inheretance that will enable me to pay this in full.Â My dilema is that I have a daughter starting college this fall and will either need this money to help pay for college, or pay off this loan and bring my credit score high enough to qualify forÂ a student loan. Â My current score is 539.Â If I offer to PIF and ask the OC to delete this account from my credit, will it increase my score enough to make a difference?Â Or, if they bring my account to currentÂ should I just continue to make the payments and live with the 6 months of late payments on my credit report?

January 24, 2011
Posted by admin at 8:18 pm
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Rebuilding Credit
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Hello wonderful forum members

Anyone care to guess as to if this situation will cause a change in score?Â Â Its Experian so I won’t know unless I have a lender pull the report again which won’t happen until December.Â At last pull the FICO score was 612 (as of 9-14)Â Â up from a 602 in June but then this happened probably w/in the last week or so:

I have a student loan whos original balance was 12KÂ back in 2001.Â In 2004 I hit a 60 day late and then I had filed chapter 13 BK.Â Â Now since BK just pays on it (doesn’t reduce it or wipe it out) Its shown perfect payments since then and is in deferment until next Sept due to another Student loan obligation.Â Balance is at 10K now.Â

It was never listed on my Experian report before.Â Â I generally check my reports weekly because I want to check on updates.Â Â I’m looking todayÂ and there it is!Â on my EX report listed as an adverse account!Â Â Â I had that one 60 day late in early 2004 but since then have been 100% good.Â Â Â Â Â

Anyone care to guess if it will have some sort of score impact?Â Â Like I said, this hasn’t been on my EX report before and correct me if I’m wrong but that 60 day late will hit the 7 year point and should drop off in early 2011 correct?Â So at that point it should be removed from the “adverse accounts” section anyway right?

Of course i’m more concerned what its doing NOW even though my goal of obtaining a mortgage is still 2 years away–Â the higher i can get that score now the easier that wait will be lol.

Thanks April

Hi Forum,Â

My situation is I have a 120 day late with Sallie Mae while I was deployed in Afghanistan. I made the mistake of not enrolling to auto pay and wasn’t able to make any payments for the first few months while in theater. I recently read about the Heroes Act of 2003 and hope this might help my credit.

I was deployed from MAY 09 to NOV 09

Sallie Mae

90 Day Late JUN 09

120 Day Late JUL 09

Ive been on time with payments since then, making it over a year now. Does anyone know how Sallie Mae usually handle these cases?

I’m sure they will need my deployment orders which I should be able to get from S-1.

Related Blogs

Related Blogs on Sallie Mae – Heroes Act of 2003

August 30, 2010
Posted by admin at 1:00 am
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Student Loans
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Greetings,

Hubby has a default judgment on his Experian report (I disputed it with Transunion & Equifax and it was deleted) and this judgment is holding up our mortgage process.

Several months ago he sent in a letter askign if payment arrangements could be made & we began making payments since Equperian would not delete.

We have called the court house & this is a true judgment.

We were never properly served (we lived in another state at the time) & I’m now reading that we could have had this removed due to that fact.Â Is it too late to do anything about this?Â We aren’t trying to run away from the debt but it would sure be nice to remove this judgment.

June 30, 2010
Posted by admin at 11:59 am
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Rebuilding Credit
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Here’s my story.Â Georgia resident. SOL in GA is 6 years (I think). Sears card was opened back in 199X and was charged off in Dec.Â 2004. Sears is using the charge off date as DOLA. But I had made no payments since Oct. 2003 due to a bad divorce.Â DOLA should have beenÂ after 120 days (4 months) delinquent (March 2004). Recently received a letter from a lawyers office in Atlanta, GA on behalf of Gemini Capital Group, assignee of Sears.Â I sent them a DV letter with requests for several types of verification. They responded with an affidavit from a Gemini rep stating that they are assignees of Sears and I owe them and a Sears credit agreement. None of the information that I requested for verification was provided except that they are “authorized” (by the affidavit) to collect on the account.Â They are saying that if IÂ pay the balance in full within ten days that I will not be charged attorneys fees and that I should call to set up a repayment plan if I wish to avoid legal action. How do i respond? Do I tell them that it is past the SOL on the account?

April 15, 2010
Posted by admin at 5:01 pm
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Rebuilding Credit
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Mortgage and Insurance

will PIF or PFD improve my score

Anyone care to guess?

Sallie Mae – Heroes Act of 2003

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Unpaid default judgment

Past SOL on Sears card. CA is threatening legal action.

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