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Struggling with a Sallie Mae 90d that is 23 months old...
I was in grad school at that time (I was self paying), so I had applied for a deferment. The deferment was suppose to be to July 2012 when I finished, but went to March 2012. I received a phone call from a Sallie Mae agent on June 26 telling me I was nearing 90 days past due. I aksed her if I could get the deferment to the July timeframe. She said "yes", but it would not get approved until after the 90 day mark, set for July 1. It was $357 due to avoid that so I just paid it that day on the phone and was assured it would go through that day. Since there it was almost July and I paid it, I did not pursue the additional deferment. My next payment would not be due until August 2012 anyway.

Three months later I realized that my credit dropped 135 points to 550. I went back to the payment and it was not processed until July 5th and was reported 90 days late. UGH!

I called Sallie Mae and they said according to their documents payments can take up to 5 business days to post. They said I had no dispute. They do not report for anything under 90 the 90 day just showed up.

Two questions: 1) If this worthy of a dispute as it was not intentional and I can show I was in grad school at the time and 2) If it is not disputable (or winnable), then when will the impact be removed from credit. I have heard it lessens after 24 months (which will be June 2014), but was not sure. I had past rough credit from over 5 years ago, but worked myself up to a 685 before this. SInce I had one 30 day late on a CC (not sure how I missed that) from 18 months ago, a few medical collections this past year for 50 and 70 dollars. My score on CK is 636 right now, on Equifax 3 in 1 is: 657 Equifax, 647 Experian, and 638 TRU. I thought I bought their FICO product, but think now in looking at it, it is EQU own score. I do not want to spend more for the FICO score since already spending $20 something on that.

I have 1977 CL on three cards, 24% utilization, and all other payments on time for 3.5 years. Will the 90 day (which I assume is killing the score) have a lower impact to score after 24 months past past with the FICO formula? I understand that if not disputed, it will stay for 7 years, but hoped the impact lessened after 24 months as far as scoring. My average credit lengths are around 8 years. I am not sure why.

I am paying my CC utilization down to 9% this month and wondering what else I can do. I need a 680 by August for a home loan. The simulators basically do not give me over a 640 (CK) regardless of what I do on utilization.

Any advice?

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