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joshysway

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My score is 508 due to late Student Loan payments. What can I do?
I went about 4 months with out paying my student loan. I was under the impression I was in automatic payments, but I wasn't. Didn't find out till last month. I got taken care of the back payments, made last month's and this months payments on time. I checked my score today and it was 508. What can I do to help my score go up, and how long can this take?
I don't have any other debts or payments, nor do I have a credit card.

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After you build a history of regular, on- time payments (about a year) those late payments will matter less.  Keep up the payments (sounds like that was your intention with the automatic payment plan) and begin [increasing your credit portfolio by beginning with a secured credit card.  Believe me, it will help you.  If you haven't read the articles on this site, please do.  They really help!

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Depending on what kind of loan it is you can sign up for loan rehabilitation where if you make on time payments for 9 - 12 months the will remove your late payments from your credit report.

Or you can contact your loan provider and explain the situation. Point out that in the past you always made your payments on time, but there was a mix up this time alot of people get lates removed this way. They even have Goodwill letter templates you can use.

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