I have been visiting this site for a month or so, and I have found the information invaluable! I was hoping to get some advise pertaining to my particular situation...
My dilemma is as follows:
I have a student loan with quite a bit of late payment history on it! My "Account History" can be read as seven months late at 90+ days, or literally;
150 days as of Nov 05, Oct 05, Jun 04
120 days as of Sep 05, May 04
90 days as of Aug 05, Apr 04
Although following this history; I paid on time every month for two years! (From Jan 06 to Jan 08)... My account is now considered Paid,Closed/Current.
I want to attempt to have the late payments removed through a letter requesting a "goodwill adjustment"
Yet, I do not want this account completely removed from my report! I fear having it completely removed from my report would seriously hurt my "credit history length" since this is basically the only account on my report!
I plan on opening a new student loan in the near future, and would like it to be with the same creditor. I wondered if that and the fact that I payed as agreed for two years straight, would have any baring on their decision to accept my plea for help.
Basically I just want to know if any of this is even possible? I also read somewhere that; "Negotiation Letters Will NOT work on Student Loans because student loan creditors are required by law to report accurate information to credit agencies, and the record will remain on your credit report for 7 years." If this is true, then I may have got my hopes up for nothing!
If anyone can offer an answer or advise, it would be extremely appreciated!
Thank you for your time,