Cleaning Up Student Loans Negative Reporting

[sh23jk]

I just got copy of DH credit report from exp and need help on trying to clean up reporting on student loans.

 

Here is how they appear:

 

Calif Student Aid

Closed

Date open: 8/1/03

Paid was collection insurance claim or government claim or was terminated for default

 

National Student Loan

closed

date opened: 11/1/03

Paid was collection insurance claim or government claim or was terminated for default

 

Nelnet LNS (2 entries exactly the same)

closed

date open : 8/1/00

Paid was collection insurance claim or government claim or was terminated for default

 

Nelnet LNS (2 entries exactly the same)

closed

date open : 6/1/01

Paid was collection insurance claim or government claim or was terminated for default

 

Sallie Mae

closed

date open: 1/1/02

account transferred to another office/transferred to another lender or claim purchased

 

Student Loan Mkt Assn

closed

date open: 10/1/98

account transferred to another office/transferred to another lender or claim purchased

 

XLS/CITEL (2 separate loans same info)

open

date open: 5/1/06

current was past due 90 days

payment history : 60 day lates : 5/07, 6/07,9/07,11/07,1/08,4/08,5/08

90 day lates:10/07,12/07,2/08,3/08

current: 6/08 - 10/08

 

 

Any tips/advise on how to get these updated/reporting positive or deleted.

 

Thanks

[Saria]

Just like Lynn and Cynic told you last year, you'll almost certainly not be able to remove these. http://creditboards.com/forums/index.php?s...=242803&hl=

[sonicanatidae]

Saria,

 

I'm in a similar situation, roughly. I read the thread you pointed to and I wanted to make

sure I understood correctly.

 

2 defaulted Student Loans. Opened in 1988, true DOFD of 1992 or so.

Both Paid in full to CA 02/2008.

 

Each one, currently reports twice. Once as OC, once as CA.

 

Both have updated to show the 02/2008 payoff.

 

All 4 entries are stuck there until 02/2015

 

If the above is an accurate summary, I have 1 additional question.

 

 

The CA shows a purchase date of 03/2007. They start listing +90 day

lates starting in 05/07 and listed +90 days late from 05/07 thru 02/2008.

 

The inaccuracy Im seeing is my wages were garnished starting

10/07 until I Paid the debt entirely in 02/08 with part of my tax returns.

 

I couldnt possibly have been late *during* a garnishment. While its

a small thing, couldnt I have the +90s reported from 10/07 thru 02/08

removed?

Edited January 2, 2009 by sonicanatidae

[Stryker]

They are tough to remove... have you tried a dispute?

[LynnInMN]

I couldnt possibly have been late *during* a garnishment. While its

a small thing, couldnt I have the +90s reported from 10/07 thru 02/08

removed?

 

Your loan was in default and due in full and you never get credit for making payments whether voluntary or not. The lates are valid.

[Saria]

Saria,

 

I'm in a similar situation, roughly. I read the thread you pointed to and I wanted to make

sure I understood correctly.

 

2 defaulted Student Loans. Opened in 1988, true DOFD of 1992 or so.

Both Paid in full to CA 02/2008.

 

Each one, currently reports twice. Once as OC, once as CA.

 

Both have updated to show the 02/2008 payoff.

 

All 4 entries are stuck there until 02/2015

 

If the above is an accurate summary, I have 1 additional question.

 

 

The CA shows a purchase date of 03/2007. They start listing +90 day

lates starting in 05/07 and listed +90 days late from 05/07 thru 02/2008.

 

The inaccuracy Im seeing is my wages were garnished starting

10/07 until I Paid the debt entirely in 02/08 with part of my tax returns.

 

I couldnt possibly have been late *during* a garnishment. While its

a small thing, couldnt I have the +90s reported from 10/07 thru 02/08

removed?

 

Like Lynn said, if you were in garnishment, you were in default. And if you were in default, you were--by definition--more than 90 days late. It looks like they're reporting accurately to me.

 

Had you rehabbed the loans, the TLs from the guarantor (what you're thinking of as a CA) would have been deleted and you'd only have the TLs from the lender. I mention that only for the benefit of others who might read this. Great job getting these under control, now just let time lessen the impact of the baddies.

 

ETA: The TLs from the lender should drop off 7 years from the date the claim was paid by the guarantor. So, depending on when you defaulted, hopefully that will be sooner than 2015.

Edited January 5, 2009 by Saria

[sonicanatidae]

I see now..

 

Thank you both very much for explaining the details.