Confusing about SL loans reorting to CRA

[bonbonXO]

If you default on your student loans (SLS) and then pay them off in a pump sum 4 months later to the Guarantor, how should the Servicing Agent ( SM) be currently reporting your SL to the CRA?

I defaulted on SL with Sallie Mae 12/20/04

I paid ISAC (Guarantor) lump sum 5/2/04

how should SM being report my SL now?

Transferred or paid through insurance?

 

 

Should SM be reporting my loans astransferred or debt being PD thru insurance?

 

 

I would greatly appreciate some clarification on this,

Thanks in advance!

[LynnInMN]

You defaulted on Sallie Mae so it will report negatively, like paid thru Insurance or government claim filed. Even though you have now paid it off, the negative rating does not change.

[bonbonXO]

My loans are a mess, Thank God they are paid off. I have loans that were reported twice, At one point I had 17 Sl reporting when I only had seven. The one that are still dups are reporting paid or being by insurance while the 7 real ones report as transfered. I am just tying to understand this, before I started tying to get items corrected, since I have learned the hard way that SM is not very friendly, when it comes to disputes thru the CRA.

[OneStep]

By law, student loans have to report accurately. If you default on a student loan, that is when it is transferred to the guarantor, which makes it look like you have 2 negative accounts.