Student Loan wrong on Equifax

[mstrublvr]

How do I fix this? My student loan was updated and is now deferred. TU and Ex show it correctly but Equifax not only shows the correct deferrment but still shows the collections. Can I get the collections removed?

 

Correct: (Suntrust Bank)

Condtion: Open

Balance: $3315

Type: Educational

Past Status: Current

Past Due: $0

Opened: 01/2004

Reported: 06/2009

 

Incorrect: (Collection account showing)

CLC

Condition: Derogatory

Balance: $0

Past due: Late 120 days

Balance: $3350

Open: 01/2004

Reported: 10/2007

Defaulted loan - claim filed against guarantor

[Saria]

This should be asked in the SL forum. We need more info to help. How did you get out of default status? Did you rehab it? Consolidate?

[mstrublvr]

I am back in school, so my previous loans are now deferred until I am out of school again.

[Saria]

I understand that you're in a deferment period now, but it looks like your loan went into default in 2007. If that's the case, it might actually be reporting accurately and that's why I'm asking for more info. How did you get it out of default?

[mstrublvr]

It was a govt backed Stafford loan. I was able to move it back to deferred status offered to students when I went back to school. Just to verify, it only went into default because I thought it was an automatic change when you re-enroll so I stopped sending payments. I didn't realize I had to redo the promissory note, etc. It took a few months to clear up, it went into default but was then deferred by the govt. Does that help?

Edited July 1, 2009 by mstrublvr

[Saria]

Hmm. What you're describing almost sounds like a retroactive deferment, but as far as I know that's never an option once a loan goes into default status. That also wouldn't explain why you have two different lenders reporting. CLC isn't a CA. They were a lender.

 

If I had to guess, I'd say they probably had you consolidate to get you out of default so you would qualify for an in-school deferment. Do you still have any papers you signed? If that's the case, the CLC TL looks accurate to me. If it is, and you dispute it, you run the risk of having it show up on your other two reports as well.

 

I'll submit a mod alert to have this moved to the SL forum so others can take a look.

[LynnInMN]

It was a govt backed Stafford loan. I was able to move it back to deferred status offered to students when I went back to school. Just to verify, it only went into default because I thought it was an automatic change when you re-enroll so I stopped sending payments. I didn't realize I had to redo the promissory note, etc. It took a few months to clear up, it went into default but was then deferred by the govt. Does that help?

 

Then the tradeline is reporting correctly. You either rehabbed it or consolidated it. You cannot just get a deferment after you default, regardless of going back to school.