Credit File Confusion

[Miss Bliss]

i pulled my equifax credit file (minus my score, i'll check that out this week though)....i'm confused and need a little clarity. i'm in a rehabilitation program....my 9th month is in May, i'm trying to figure out upon completing my rehabilitation what drops off, what stays, what's reported and why do i have the 2 entries from Direct Loans and DOE for diff amounts no less. I drew the conclusion because my loans are Stafford Loans....that Direct Loans was the originator of the loans and when i went into default, DOE is collecting on them (because they are gov't loans) (Van Ru is collecting on behalf). I want to make sure i'm understanding what's on my report and the changes that will occur. This is like reading chinese to me

 

on my report i have two entries from Direct Loans as follows:

 

account number:(i'm omitting)

balance due: $0

amount past due: $0

current status: collection account

account owner: individual account

high credit: $49,343 (close to what NSLDS reports as outstanding principal)

type of account: installment

term duration: 157 months

scheduled payment amount: $294

date of last activity: n/a

months reviewed: 14

charge off amount: $0

credit limit: $0

type of loan: education loan

comments: collection account

 

account number:(i'm omitting)

balance: $0

amount past due: $0

current status: collection account

account owner: individual account

high credit: $14,859 (is this the collection charges tacked on)

type of account: installment

term duration: 172 months

scheduled payment amount: $79

date of last activity: n/a

months reviewed: 18

charge off amount: $0

credit limit: $0

type of loan: education loan

comments: collection account

 

and i have 2 entries from US Department of Education

 

account number:(i'm omitting)

balance: $23418 (i'm thinking this is the direct consolidated unsubsidized loan amt.)

amount past due: $23418

current status: collection account

account owner: individual account

high credit: $22,926

type of account: installment

term duration: 36 months

scheduled payment amount: $23418

date of last payment: 2/2007

actual payment amount: $0

date of last activity: n/a

months reviewed: 2

charge off amount: $0

credit limit: $0

type of loan: education loan

comments: collection account

 

account number:(i'm omitting)

balance: $26973 (i'm thinking this is the direct consolidated subsidized loan amt.)

amount past due: $26973

current status: collection account

account owner: individual account

high credit: $26406

type of account: installment

term duration: 36 months

scheduled payment amount: $26973

date of last payment: 2/2007

actual payment amount: $0

date of last activity: n/a

charge off amount: $0

months reviewed: 13

credit limit: $0

type of loan: education loan

comments: collection account

 

total: 50,391

 

i went to the NSLDS site and pulled up my aid summary and this is what's on it.

 

1. direct consolidated unsubsidized

loan amount: $22937

loan date: 9/20/2004

disbursed amount: $22926

canceled amount: $0

outstanding principal: $22926

outstanding interest: $642

 

2. direct consolidated subsidized

loan amount: $26,406

loan date: 9/20/04

disbursed amount: $26406

canceled amount: $0

outstanding principal: $ 26406

outstanding interest: $739

 

total: 50,722 (principal + interest) pretty close to what's reported on my report under DOE total

 

i have other loans listed on here, but i consolidated my loans back in 2004 so they just show in the loan amount column and the disbursed amount, but $0 shows up in the canceled amount, outstanding principal and outstanding interest.

Edited March 25, 2007 by Miss Bliss

[skdigi]

yes, you will find that the original creditor...or Direct Loans in this case will report as well as the collection agency they gave your account too. the listings that have $0 balance...that would be the original loan and the listings that have a balance should be the collection accounts. you could try disputing things, see if anything falls off but i don't know about striking a deal for account deletion with an agency that has your student loan account...prol wouldn't happen

 

anyone else have a sl go into collections? luckily i've stayed on top of mine..phew.