Good new and bad news I desperately need advice!

[InfamousNY]

Today I pulled a free scorewatch and my score went from 710 down to 636 it just didn't make sense. So I checked if there were any new changes to the reports. It showed a flag next to my Sallie Mae account that was opened in 2007 yet it states no new lates on it which is the truth. I had a late in 05 for another sallie mae account but that was taken care of. I don't know what to do. I pulled my TU and EX account both are high 730's. This is where my EQ score should be since they are all the same . Should I dispute this situation it doesn't list it havng any lates but has a flag. Please help me great heg, sg, trev, or any other smart credit pimps.

[InfamousNY]

This is exactly what the account states yet for some reason has a flag next to it for no reason.

 

Status as of [?] Apr, 2008

Date opened [?] Jul, 2007

Date of last activity [?] Apr, 2008

Date closed [?] Not Reported

Account number [?] XXXXXXXXXXXXXXXX0720

Loan type [?] Not Reported

Largest past balance [?] $44,774

Terms [?] Not Reported

Account Type [?] Installment

Account holder [?] Individual

Scheduled payment amount [?] $335

Account status [?] Account is Open

 

Descriptions [?]

Arrangement made with credit grantor to make partial payments

Student loan

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$43,970 Pays account as agreed Not Reported

 

Seven year payment history [?]

30 days late 0 times

60 days late 0 times

90+ days late 0 times

 

Worst Delinquency [?]

None Reported

[Jen23514]

hmmmmm.... maybe SW has a glitch?

[InfamousNY]

hmmmmm.... maybe SW has a glitch?

 

I also pulled the MYFICO report and EQ has the same result. It just doesn't make sense.

[InfamousNY]

Any ideas?

[haybreez02]

bump

[Jen23514]

This is exactly what the account states yet for some reason has a flag next to it for no reason.

 

Status as of [?] Apr, 2008

Date opened [?] Jul, 2007

Date of last activity [?] Apr, 2008

Date closed [?] Not Reported

Account number [?] XXXXXXXXXXXXXXXX0720

Loan type [?] Not Reported

Largest past balance [?] $44,774

Terms [?] Not Reported

Account Type [?] Installment

Account holder [?] Individual

Scheduled payment amount [?] $335

Account status [?] Account is Open

 

Descriptions [?]

Arrangement made with credit grantor to make partial payments

Student loan

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$43,970 Pays account as agreed Not Reported

 

Seven year payment history [?]

30 days late 0 times

60 days late 0 times

90+ days late 0 times

 

Worst Delinquency [?]

None Reported

 

maybe something to do with what is in red?

 

honestly, this is strange.

[InfamousNY]

This is exactly what the account states yet for some reason has a flag next to it for no reason.

 

Status as of [?] Apr, 2008

Date opened [?] Jul, 2007

Date of last activity [?] Apr, 2008

Date closed [?] Not Reported

Account number [?] XXXXXXXXXXXXXXXX0720

Loan type [?] Not Reported

Largest past balance [?] $44,774

Terms [?] Not Reported

Account Type [?] Installment

Account holder [?] Individual

Scheduled payment amount [?] $335

Account status [?] Account is Open

 

Descriptions [?]

Arrangement made with credit grantor to make partial payments

Student loan

No contact information provided by Equifax

Balance [?] Current Status [?] Past Due Amount [?]

$43,970 Pays account as agreed Not Reported

 

Seven year payment history [?]

30 days late 0 times

60 days late 0 times

90+ days late 0 times

 

Worst Delinquency [?]

None Reported

 

maybe something to do with what is in red?

 

honestly, this is strange.

 

It just doesn't make sense.

[InfamousNY]

Well I found out what brought me down in points. Under "understanding your score" it lists a 60 day late was just added to my report yet I haven't been late since 2005 and most I was late by was 30 days. So I sent a dispute letter to Equifax plus my 3 reports to show them I have no 60 day lates not even on their own report.

[Kevin3344]

Woke up with a 56 pt. FICO drop today and it was the exact same thing...the only change was a notation from Sallie Mae.

 

"ARRANGEMENT MADE WITH CREDIT GRANTOR TO MAKE PARTIAL PAYMENTS STUDENT LOAN"

 

Like most of us at CB I check my credit report meticulously and know I've never been late. I have never ever made a partial payment on my student loan...so I have no idea where they're coming from. The only thing I can tie it back to was when I changed my repayment schedule to "Grad 4" last October. Still, why add the notation some 7 months later? I think it's a glitch with them...and we're not the only ones seeing it.

 

At any rate, they'll be hearing from me CMRRR first thing tomorrow. I'm going to tell them if they're going to penalize me for changing my plan to just change it back to the way it was. Who needs the aggravation.

[pil]

Kevin, I don't think it has anything to do with previous stuff. There are several people now on this board including me who have gotten this today. SM is pulling something... I haven't touched the account.

[Kevin3344]

Thanks pil, I didn't think so...that's just weird. I wonder how many other people got the same thing? I bet SM is being inundated with calls right now lol.

[InfamousNY]

Thanks pil, I didn't think so...that's just weird. I wonder how many other people got the same thing? I bet SM is being inundated with calls right now lol.

 

Kevin I found out what the issue is I compared the report to my EX and TU report. The account # was changed to something else this week for no reason.

[pil]

See my post here, I called the Consumer Advocate Unit:

 

http://creditboards.com/forums/index.php?showtopic=336187

[InfamousNY]

See my post here, I called the Consumer Advocate Unit:

 

http://creditboards.com/forums/index.php?showtopic=336187

 

I don't understand how this can lower our fico though since we paid on time.

[pil]

I don't understand how this can lower our fico though since we paid on time.

 

My score watch report now shows a whole lot of red:

 

This one little notation gave me "Serious deliquencies," "past due balances" and "recent missed payments". The hilarious part is that in the Credit-at-a-Glance section, if flags '0 late payments' as being a problem.

[Kevin3344]

The account number changed for me as well. This is what my EQ alert looked like:

 

"The following changes were reported for your SALLIE MAE LSCF account :

Account Number Changed from 9XXXXXXXXXXXXXXXX to 7XXXXXXXXXXXXXXXX

Past Due Amount Changed from N/A to N/A"

 

?

[Kevin3344]

The person there stated that they just had some new rules go into effect that allow them to report differently.

 

Yeah, read: "current credit crisis". These morons shouldn't penalize you based on the repayment plan you're choosing. I'm changing mine back tomorrow.

[pil]

Okay folks, good news. I contacted myfico.com over the phone and apparently they are getting a large volume of complaints and they are escalating the issue. The woman stated that it is an error and they are trying to resolve it with Sallie Mae.

 

The person there took my contact info and said they would get back to me. It's probably not a bad idea for everyone to call themselves, just to make sure this get fixed properly...

[NJAccntnt]

Same thing happened to me today. Scorewatch alert, FICO dropped from 675 to 609!!! The only thing that changed was the Sallie Mae consolidation loan.. they changed the account number and added the "Arrangement made with credit grantor to accept partial payments" comment. I immediately called Sallie Mae and at first the rep said it might have been noted that way because I selected the "Graduated Plan" about 2 years ago when I consolidated. I told him that doesn't mean I'm making partial payments.. you're billing me $110 each month and I pay $110 each month. I pay the bill IN FULL and I have never been late, I always pay early. He agreed and said he couldn't find anything on his computer where I was delinquent, etc.. He said to dispute it with Equifax... Why almost 2 years later add this comment?? Don't they realize this is going to make some of our credit card companies rate jack us or cut our credit lines???? These are HUGE FICO drops!

[Rogue]

Sallie Mae so SUCKS and always has, I will not even get into the fiasco I had with them years ago. Then after three years of work to get my student loan reported correctly....Sallie Mae starts reporting out of the blue that my student loan had been discharged in BK!! Not only have I never filed BK, my student loan was paid off four years early with NO lates. Sallie Mae KMA!!!

 

Good Luck to all of you having to deal with the morons at Sallie Mae! And this is a classic example about being vigilant with your credit reports and how one small change can crush your FICO! So somebody hurry up and get denied for something becasue Sallie Mae trashed your FICO...then SUE!

Edited May 10, 2008 by Rogue

[InfamousNY]

Sallie Mae blows I wish I never took a loan with them. I hope this issue gets resolved.