Score dropped 30+ pts overnight

[Future-800-Club-Member]

This is straight from myfico. I received an alert that my score dropped significantly. Does this mean what I think it means? Are they reporting my student loan as being in default? I was late 120 days, then filed for bankruptcy and it went on hold. Once my bankruptcy was discharged I resumed payments and they created a new account number and report is as "paying as agreed"

 

By the way, the information below is reporting 2 times. Exact same information.

 

How do I go about disputing this?

 

 

 

CITIBANK NA STUDENT LOAN (XXXXXXXXX25)

 

Account opened: 7/2001

Description: Defaulted loan - claim filed against guarantor

Collection account

Student loan

 

 

Balance: $0

Past due: $0

Status: At least 120 days or more than four payments past due

Last activity: 6/1/2003

 

Description: Consumer disputes - reinvestigation in process

Consumer disputes this item

Defaulted loan - claim filed against guarantor

Collection account

Student loan

[jtoast]

Yep, they are reporting that loan in default. I would start with a phone call to CITI and see if its just a simple error on their part. They may have forgot to close the old loan when the new one was opened.

Edited November 20, 2009 by jtoast

[LadyRelm2]

Personally, I would not CALL Citi but write to them. I'd rather have their explanation in written form....but that's me.

 

As far as your issues, here are my thoughts & debate:

 

1. If they created a new account for your student loan, I don't think they can report both the old and the new as two separate tradelines. However..

 

2. IF they are allowed to do this because the BK effectively put a "freeze" on your previous account, then they cannot report anything different on that account except the status it was in when you filed BK. Therefore, if you were not in default when you filed, they cannot change the status of the old account to say it is in default.

[jtoast]

*shrug* I have no problem calling an OC to fix an error. I've also never had them refuse to immediately fax me proof of their fix.

 

Writing a letter adds a week to the time it takes to implement a fix usually. Now if the rep you get refuses to help, then yea, its time to do something in writing.

Edited November 20, 2009 by jtoast