Required to report?

[betterme]

I posted this in the credit forum and was directed here. Two people said they are required to report negatives on student loans, so perhaps there's nothing I can do. It was my only good credit line, though, so it's had a big impact. Here is my post from the credit forum:

 

I have an (accurate) 60 day late on my student loan account. I sent a letter in the mail asking if they could change it, I was on time for four years prior and 6 months after the late, etc... To the letter in the mail they returned a forbearance form (I guess they didn't read and/or understand the letter. So I tried again by email. This is the reply I got from them today.

 

"Thank you for your inquiry.

The disputed information on your credit report is accurate. Per Federal Regulations, we are obligated to report delinquent accounts to the National Credit Bureaus. We are not allowed to remove derogatory information unless a valid condition existed at the time the delinquency occurred (deferment, forbearance, payment). Our records indicate that the forbearance was applied after the reporting was made. Therefore we are unable to clear the credit.

We apologize for any inconvenience that this may have caused. "

 

Is that true that they're required by law to report delinquent info to the national credit bureaus? I'm pretty sure that's not true I think I read that in the Psychdoc's seminars?

 

Does anyone have any suggestions about what I should do now or should I just give up? Thanks.

[LynnInMN]

As part of their federal guarantee, they are required to report.

[betterme]

Thanks for the info. I didn't realize they had different rules for student loans. I guess it's a losing battle. Thanks again.

[Guest Joseph C]

Thanks for the info. I didn't realize they had different rules for student loans. I guess it's a losing battle. Thanks again.

 

Im -still- considering Consolidation for mine, to deal with DirectLoan and SallieMae and remove NJ HESAA entirely.

 

Still debating... I suppose in wondering -HOW- negatively it will drag the scores down?

 

I -DO- have other -NORMAL- Positive TLs on my CR....