 Student Loan wrong on Equifax |
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 Jul 1 2009, 02:23 PM
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#1
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Group: Members
Posts: 64 Joined: 13-September 04 Member No.: 8,426  |
How do I fix this? My student loan was updated and is now deferred. TU and Ex show it correctly but Equifax not only shows the correct deferrment but still shows the collections. Can I get the collections removed?
Correct: (Suntrust Bank) Condtion: Open Balance: $3315 Type: Educational Past Status: Current Past Due: $0 Opened: 01/2004 Reported: 06/2009 Incorrect: (Collection account showing) CLC Condition: Derogatory Balance: $0 Past due: Late 120 days Balance: $3350 Open: 01/2004 Reported: 10/2007 Defaulted loan - claim filed against guarantor |
  
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| Googie |
Jul 1 2009, 02:23 PM
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The MoneyMaker
Group: Accounting
Posts: One in Every Topic Joined: 1-February 03 From: Mountain Home, CA Member No.: 1 |
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Jul 1 2009, 02:31 PM
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#2
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Group: Members
Posts: 699 Joined: 25-April 05 From: Georgia Member No.: 16,300 |
This should be asked in the SL forum. We need more info to help. How did you get out of default status? Did you rehab it? Consolidate?
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Jul 1 2009, 02:40 PM
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#3
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Group: Members
Posts: 64 Joined: 13-September 04 Member No.: 8,426 |
I am back in school, so my previous loans are now deferred until I am out of school again.
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Jul 1 2009, 02:51 PM
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#4
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Group: Members
Posts: 699 Joined: 25-April 05 From: Georgia Member No.: 16,300 |
I understand that you're in a deferment period now, but it looks like your loan went into default in 2007. If that's the case, it might actually be reporting accurately and that's why I'm asking for more info. How did you get it out of default?
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Jul 1 2009, 03:03 PM
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#5
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Group: Members
Posts: 64 Joined: 13-September 04 Member No.: 8,426 |
It was a govt backed Stafford loan. I was able to move it back to deferred status offered to students when I went back to school. Just to verify, it only went into default because I thought it was an automatic change when you re-enroll so I stopped sending payments. I didn't realize I had to redo the promissory note, etc. It took a few months to clear up, it went into default but was then deferred by the govt. Does that help?
This post has been edited by mstrublvr: Jul 1 2009, 03:05 PM |
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Jul 1 2009, 04:51 PM
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#6
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Group: Members
Posts: 699 Joined: 25-April 05 From: Georgia Member No.: 16,300 |
Hmm. What you're describing almost sounds like a retroactive deferment, but as far as I know that's never an option once a loan goes into default status. That also wouldn't explain why you have two different lenders reporting. CLC isn't a CA. They were a lender.
If I had to guess, I'd say they probably had you consolidate to get you out of default so you would qualify for an in-school deferment. Do you still have any papers you signed? If that's the case, the CLC TL looks accurate to me. If it is, and you dispute it, you run the risk of having it show up on your other two reports as well. I'll submit a mod alert to have this moved to the SL forum so others can take a look. |
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Jul 1 2009, 04:52 PM
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#7
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Group: Members
Posts: 4,206 Joined: 31-December 04 From: Naples, Florida Member No.: 11,332 |
QUOTE (mstrublvr @ Jul 1 2009, 03:03 PM)  It was a govt backed Stafford loan. I was able to move it back to deferred status offered to students when I went back to school. Just to verify, it only went into default because I thought it was an automatic change when you re-enroll so I stopped sending payments. I didn't realize I had to redo the promissory note, etc. It took a few months to clear up, it went into default but was then deferred by the govt. Does that help? Then the tradeline is reporting correctly. You either rehabbed it or consolidated it. You cannot just get a deferment after you default, regardless of going back to school. Lynn
Ex-Student Loan Collector FFLEP & USDE Ex Financial Aid Officer Minnesotan escaped to Florida! |
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