Need help on how to read this SL Info on DH's report

[Faelynn V]

The worst things on my husband's credit report are his defaulted student loans. We tried to access the NSLDS, but had problems getting his pin, so he had to apply for a new one to be sent to his email within the next 3 days. In the meantime, this is what his credit report displays. Is it safe to assume that he had 3 separate loans, and all three were taken over by DOE?

 

 

SALLIE MAE SERVICING

 

Address:

1002 ARTHUR DR

LYNN HAVEN, FL 32444

No phone number available

 

Status: Transferred,closed/Claim filed with government.

Date Opened:

03/2003

Type:

Installment

Reported Since:

06/2004 Terms:

120 Months

Date of Status:

01/2006

Monthly Payment:

$0

Last Reported:

01/2006

Responsibility:

Individual

Credit Limit/Original Amount:

$2,625

High Balance:

NA

Recent Balance:

NA

Recent Payment:

NA

Creditor's statement: Debt being paid through insurance.

Account History:

Claim filed with the government as of Jan 2006, Nov 2005

180 days as of Jun 2005 to Oct 2005

150 days as of May 2005

120 days as of Apr 2005

90 days as of Mar 2005

 

 

SALLIE MAE SERVICING

 

Address:

1002 ARTHUR DR

LYNN HAVEN, FL 32444

No phone number available

 

Status: Transferred,closed/Claim filed with government.

Date Opened:

03/2003

Type:

Installment

Reported Since:

06/2004 Terms:

120 Months

Date of Status:

01/2006

Monthly Payment:

$0

Last Reported:

01/2006

Responsibility:

Individual

Credit Limit/Original Amount:

$4,000

High Balance:

NA

Recent Balance:

NA

Recent Payment:

NA

Creditor's statement: Debt being paid through insurance.

Account History:

Claim filed with the government as of Jan 2006, Nov 2005

180 days as of Jun 2005 to Oct 2005

150 days as of May 2005

120 days as of Apr 2005

90 days as of Mar 2005

 

 

TN STUDENT ASSISTANCE CO*

 

Address:

6420 SOUTHPOINT PKWY

JACKSONVILLE, FL 32216

No phone number available

 

Status: Account charged off. $7,025 written off.

Status Details: This account is scheduled to continue on record until Sep 2012.

Date Opened:

12/2005

Type:

Installment

Reported Since:

04/2006 Terms:

NA

Date of Status:

04/2006

Monthly Payment:

$0

Last Reported:

04/2006

Responsibility:

Individual

Credit Limit/Original Amount:

$7,025

High Balance:

NA

Recent Balance:

$7,148 as of 04/2006

Recent Payment:

$0

Account History:

Charge Off as of Apr 2006

 

 

U S DEPT OF ED/FISL/CHI

 

Address:

P O BOX 8422

CHICAGO, IL 60605

No phone number available

 

Status: Collection account. $2,946 past due as of Mar 2007.

Status Details: This account is scheduled to continue on record until May 2012.

Date Opened:

08/2003

Type:

Installment

Reported Since:

01/2006 Terms:

36 Months

Date of Status:

01/2006

Monthly Payment:

$0

Last Reported:

03/2007

Responsibility:

Individual

Credit Limit/Original Amount:

$2,665

High Balance:

NA

Recent Balance:

$2,946 as of 03/2007

Recent Payment:

$0

Account History:

Collection as of Mar 2007, Feb 2007, Dec 2006, Jan 2006 to Nov 2006

 

 

U S DEPT OF ED/FISL/CHI

 

Address:

P O BOX 8422

CHICAGO, IL 60605

No phone number available

Status: Collection account. $4,615 past due as of Mar 2007.

Status Details: This account is scheduled to continue on record until May 2012.

Date Opened:

08/2003

Type:

Installment

Reported Since:

01/2006 Terms:

36 Months

Date of Status:

01/2006

Monthly Payment:

$0

Last Reported:

03/2007

Responsibility:

Individual

Credit Limit/Original Amount:

$4,060

High Balance:

NA

Recent Balance:

$4,615 as of 03/2007

Recent Payment:

$0

Account History:

Collection as of Mar 2007, Feb 2007, Dec 2006, Jan 2006 to Nov 2006

 

 

 

 

 

US DEPT OF EDUCATION

 

Address:

501 BLEECKER ST

UTICA, NY 13501

No phone number available

Status: Collection account.

Status Details: This account is scheduled to continue on record until Apr 2012.

Date Opened:

08/2003

Type:

Installment

Reported Since:

12/2005 Terms:

119 Months

Date of Status:

12/2005

Monthly Payment:

$0

Last Reported:

12/2005

Responsibility:

Individual

Credit Limit/Original Amount:

$6,739

High Balance:

NA

Recent Balance:

$0 as of 12/2005

Recent Payment:

$0

Account History:

Collection as of Dec 2005

 

 

We are currently paying rehab payments in the amount of $105 for 9 months. The CA is Pioneer Credit and wow are they ever obnoxious - they wouldn't send my husband anything. The only thing we get now is the payment coupons. I just started on these forums and have spent probably 4 hours a day here just soaking up information.

 

So now someone can tell me if I got this correct... After the 9th rehab payment, the 3 DOE loans will no longer be reported as default, and the 3 charge offs by the OC will remain on his CR for until they are scheduled to be bumped off?

 

Thanks in advance for your replies.

 

Edit: *The TN Student Assistance Co is a Federal Guarantee agency; does this mean the loans went from here to Sallie May to DOE? Or is it a loan on top of the other 2 Sallie Mae's? Like I said, I don't know how to interpret this mess...

Edited May 27, 2007 by Faelynn V

[Cynic]

I am guessing the ED tradelines will go away after rehab. The guarantor "Student Assistance" and original lender (SLM) will stay until they age off.

[Faelynn V]

There's no info on the SM loans that say when they'll come off; would it be 3/2010 (7 years from when they were opened)?

[LynnInMN]

In looking at these tradelines, I would guess that the OP has both FFELP loans and Direct Loans. There is no way the DOE would subragate a loan defaulted in 12/05 ...that is just way too early. I get the impression that there were 2 loans originated with Sallie Mae in March 03 (sub and unsub) as the FFELP loans and then 2 Direct Loans were originated in Aug of 03. The DOE never reports for a FFELP lender so that leads me to believe that there are actually 4 loans total. Tennessee looks like they are reporting a combined total.

[Faelynn V]

In looking at these tradelines, I would guess that the OP has both FFELP loans and Direct Loans. There is no way the DOE would subragate a loan defaulted in 12/05 ...that is just way too early. I get the impression that there were 2 loans originated with Sallie Mae in March 03 (sub and unsub) as the FFELP loans and then 2 Direct Loans were originated in Aug of 03. The DOE never reports for a FFELP lender so that leads me to believe that there are actually 4 loans total. Tennessee looks like they are reporting a combined total.

 

Eek, 4? That's not good. What would be my first step in getting these out of default? Is there a way to find out exactly which loans were handed over to DOE and are now being rehabbed? The payment coupon lists 2 separate accounts, and their balances are right around the balances of those SMs.. I just assumed that what they are.

 

How do I tackle the other 2?

[LynnInMN]

In looking at these tradelines, I would guess that the OP has both FFELP loans and Direct Loans. There is no way the DOE would subragate a loan defaulted in 12/05 ...that is just way too early. I get the impression that there were 2 loans originated with Sallie Mae in March 03 (sub and unsub) as the FFELP loans and then 2 Direct Loans were originated in Aug of 03. The DOE never reports for a FFELP lender so that leads me to believe that there are actually 4 loans total. Tennessee looks like they are reporting a combined total.

 

Eek, 4? That's not good. What would be my first step in getting these out of default? Is there a way to find out exactly which loans were handed over to DOE and are now being rehabbed? The payment coupon lists 2 separate accounts, and their balances are right around the balances of those SMs.. I just assumed that what they are.

 

How do I tackle the other 2?

 

 

The way I am reading it, the DOE loans were never turned over to the DOE, they originated there. Totally seperate from Salimae. Does you DH remember when he took loans out?? Did he go to more than one school?

[Faelynn V]

Eek, 4? That's not good. What would be my first step in getting these out of default? Is there a way to find out exactly which loans were handed over to DOE and are now being rehabbed? The payment coupon lists 2 separate accounts, and their balances are right around the balances of those SMs.. I just assumed that what they are.

 

How do I tackle the other 2?

 

 

The way I am reading it, the DOE loans were never turned over to the DOE, they originated there. Totally seperate from Salimae. Does you DH remember when he took loans out?? Did he go to more than one school?

 

Ok, I think I'm understanding this a bit better. The 2 Sallie Mae's were turned over to the Tennessee Student Assistant Co. The 3 DOE's are separate loans. I know he went to 2 schools, one in TN, and one in AL. Unfortunately, he doesn't remember what loans he took out and how much they were for (no flames please, I already gave him hell for this lol). Hopefully the new PIN will come to his email soon so we can sort this out.

[LynnInMN]

Now who is Pioneer collecting for?? DOE or Tennessee?? Either way, looks like you have a second rehab to get set up.

[Faelynn V]

Now who is Pioneer collecting for?? DOE or Tennessee?? Either way, looks like you have a second rehab to get set up.

 

DOE, the ones that are about $2,000 and $4,000 - so the one that is $6,000 is not set up on rehab, and the status is "Collection since 2005". I'm not even sure who the CA is on this one, and why would they come after us for payment for 2 loans that succeeded this one?

 

Is it possible that the $6,000 one is really the two others combined?

[LynnInMN]

Now who is Pioneer collecting for?? DOE or Tennessee?? Either way, looks like you have a second rehab to get set up.

 

DOE, the ones that are about $2,000 and $4,000 - so the one that is $6,000 is not set up on rehab, and the status is "Collection since 2005". I'm not even sure who the CA is on this one, and why would they come after us for payment for 2 loans that succeeded this one?

 

Is it possible that the $6,000 one is really the two others combined?

 

 

I honestly believe he has 2 different sets of loans based on origination dates and guarntors. Then when you said he went to to different schools in different states, that kind of confirmed it.

 

You can also call 1-800-4FEDAID to get loan location information.

[Faelynn V]

Finally got the PIN and was able to log on to NSLDS.. Here's what it reads:

 

Type of Loan Loan Amount Loan Date Disbursed Amount Canceled Amount Outstanding

1 DIRECT STAFFORD UNSUBSIDIZED Defaulted $4,000 08/26/2003 $4,060 $0 $4,174 $362

2 DIRECT STAFFORD SUBSIDIZED Defaulted $2,625 08/26/2003 $2,665 $0 $2,665 $231

3 STAFFORD UNSUBSIDIZED Defaulted $4,000 03/14/2003 $4,000 $0 $4,406 $238

4 STAFFORD SUBSIDIZED Defaulted $2,625 03/14/2003 $2,625 $0 $2,760 $149

 

So there are only 4 loans - 2 are through DOE, 2 through Sallie Mae. We are in the rehab program w/DOE and Sallie Mae claims they have NO RECORD of my husband in their system, but they are listed as the current lender on the last 2 loans.

 

What do we do?

 

ETA:

Also, why would Experian be reporting a 3rd DOE loan when he doesn't have one? Should this be disputed?

Edited May 30, 2007 by Faelynn V

[LynnInMN]

Finally got the PIN and was able to log on to NSLDS.. Here's what it reads:

 

Type of Loan Loan Amount Loan Date Disbursed Amount Canceled Amount Outstanding

1 DIRECT STAFFORD UNSUBSIDIZED Defaulted $4,000 08/26/2003 $4,060 $0 $4,174 $362

2 DIRECT STAFFORD SUBSIDIZED Defaulted $2,625 08/26/2003 $2,665 $0 $2,665 $231

3 STAFFORD UNSUBSIDIZED Defaulted $4,000 03/14/2003 $4,000 $0 $4,406 $238

4 STAFFORD SUBSIDIZED Defaulted $2,625 03/14/2003 $2,625 $0 $2,760 $149

 

So there are only 4 loans - 2 are through DOE, 2 through Sallie Mae. We are in the rehab program w/DOE and Sallie Mae claims they have NO RECORD of my husband in their system, but they are listed as the current lender on the last 2 loans.

 

What do we do?

 

So you are trying to track own the loans from March 2003. What state did he go to school in? You could try Tn Student Assistance since they are the FFELP guarantor listed on his credit report!

 

Tennessee Student Assistance Corporation (TSAC), established 1974, is the designated state student loan guarantee agency in Tennessee. For more information, call 1-800-257-6526 (out of state) or 1-800-447-1523 (in state) or 1-615-741-1346, fax 1-615-741-6101, write to TSAC, 404 James Robertson Parkway, Suite 1950, Nashville, TN 37243-0820, or send email to TSAC.aidinfo@state.tn.us

Edited May 30, 2007 by LynnInMN

[Faelynn V]

Thanks Lynn, we are going to try that - they are open until 2:30pm Pacific on weekdays.

 

Should we update the address Sallie Mae has on file? They still have his old PO Box that I was unable to delete from his EX report.

[Faelynn V]

Can this record be disputed? EX and TU is reporting it separately, and in looking at my husband's record on NSLDS, he only has 4 loans. Do they create another for when the loans go into rehab? Or is this the entry for when the loans went to the CA?

 

US DEPT OF EDUCATION

 

Address:

501 BLEECKER ST

UTICA, NY 13501

No phone number available

Status: Collection account.

Status Details: This account is scheduled to continue on record until Apr 2012.

Date Opened:

08/2003

Type:

Installment

Reported Since:

12/2005 Terms:

119 Months

Date of Status:

12/2005

Monthly Payment:

$0

Last Reported:

12/2005

Responsibility:

Individual

Credit Limit/Original Amount:

$6,739

High Balance:

NA

Recent Balance:

$0 as of 12/2005

Recent Payment:

$0

Account History:

Collection as of Dec 2005