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Son did not make student loan payment and has now ruined our credit
My son did not make his student loan payments and I am the co-signor. I found out about it when I checked my credit score on this site. As there were 4 loans they reported negatively a total of 8 times for 60 days against my credit. Once I found out about it, I brought it up to date am now am making the payments. They refuse to remove the negative reporting. My credit score went from 750 to 657. Is there a way to remove this negative information?
Asked by
rulesabre
1 year ago
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yes, if it is through the gvt then he can do loan rehabiliation. expect 6-9 months minimum, then he will need to consilidate when loans are current and they will remove derogs.
nbirnbaum2 1 year ago
if it is private student loans your SOL
nbirnbaum2 1 year ago
What about sallie mai?
sugarbearchandler 11 months ago
It has been a few months since you posted this question, by now you should see your credit score going back up as long as the payments are consistently made on time. If you co-sign for a loan, expect to monitor the payments as they report the same on your credit report as your son's. The loan company should be sending monthly statements to your address as well as his. Check to be sure they have your current address so you can make sure that the payments are being made once he starts making them again (and you stop paying them). It is unlikely that you can get the 60 days past due payments removed from your report, as they were indeed past due, but with a little time and on-time payments, your score will recover.
tekayla40 9 months ago
I sent a 13 page document outlining dates, times and to whom I spoke with at Sallie Mae while I was working with them to straighten this out and take over the payments. All indications, they were not putting this on my credit report. Official response back from Sallie Mae; NO Knowledge of any of this activity even though they say they record all this in your personal file when you call in. Credit score now back only to 681 after 10 months.
rulesabre 4 months ago