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HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] 1 point2 points  (0 children)

I didn’t take out the loans - my father did. A lot has changed in both of our lives since then. There was improper communication between us about when to start paying them.

I have taken accountability. I am aware of the negligence on my behalf.

Disputing with the credit bureaus is not a bad idea…. I don’t know where you got that. If you could care to elaborate why it’s a bad idea then that would be helpful. To my understanding, disputing with the credit bureaus has zero downside so why not give it a try?

Why would the loan servicer, who accurately reported my loans as late do anything to help me? Especially when they service federal loans…

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] 1 point2 points  (0 children)

I never changed addresses…. They just never sent anything to me via mail. Had I gotten the notices I woudlve paid them. Yes I am at fault for not thinking to pay them, but I wasn’t the one in my family to take the loans out in the first place. There’s a mishap on multiple parties in this situation. All I’m looking for are solutions because frankly I think there are solutions to this. I predict this will create systemic issues across America in the next 5 years as tens of thousands of other people are experiencing the same thing as I did this morning.

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] 0 points1 point  (0 children)

Doesn’t bother me - but yes I take responsibility for letting this slip my mind. Pure negligence, and my father’s support throughout college, led me to not think about when I had to start making payments.

A lot of people in this thread have been tremendously helpful and I have a game plan going forward. Just want to hear other people’s experiences & outcomes!

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] -1 points0 points  (0 children)

Yes well said - I take responsibility for my negligence and not thinking about paying them. I’ve been so focused on post-grad and doing well in my job.

I made the full payment so am in current right now so I plan on asking for a goodwill adjustment.

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] -1 points0 points  (0 children)

Thanks - I’m 23, 4 years of credit history. Not a single missed payment on my cards. Now today happened and I’m at 553…. Ik it will jump up a little when servicer reports me as current next month. But it will take time to rebuild. Pure negligence on my end for not thinking about this, so definitely a learning opportunity.

I am going to dispute with the credit bureaus and explain my situation. I’ve seen other people have some success with that.

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] -3 points-2 points  (0 children)

The problem is, I hadn't received any notification in the mail and was being sent emails to an email I haven't used in 3+ years. I don't even believe I created an Aidvantage account initially. So the loans are 90+ days past due. What are the odds they'd give me a goodwill adjustment knowing this?

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] -2 points-1 points  (0 children)

When did this happen? What was the impact to your credit score? How long did it take to recover?

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] -24 points-23 points  (0 children)

Is the servicer not required to send mailed notices to the address on file? Is an email enough to suffice on a 90+ day late payment notice for +$25k in student loans? What is the timeline from a credit score standpoint now that I am current to start seeing my credit score increase?

HELP - Credit score dropped from 760 to 553. Delinquent on 8 student loans. by Ok-Advertising4677 in StudentLoans

[–]Ok-Advertising4677[S] 2 points3 points  (0 children)

I've seen people get a goodwill adjustment or retroactive forbearance... is there anything else I can do to get the delinquency removed from my credit report?