Ok I need help on these student loans. As I explained the accounts have been sold and closed due to consolidation because the company changed names or was bought out. The problem is what the current status of the account states. The accounts are reporting as currently 120+ over due. The last time the accounts were late were in 2001. So how can an account be currently past due if it is closed/transferred/and paid in full. Now I don't deny it being late over 3 years ago but the account is closed and paid in full. What I need to know is to how to dispute this on the basis that it is impossible for it to be over 120 pat due whrn the account has been paid in full.

Can you copy and paste the TL here so we can see it? Make sure you delete any personal/identifying info.

Experian:

Status:
Transferred/Current, was past due 150 days. Deferred, payment date unknown

Creditor's Statement:
Account closed due to transfer

Transunion:

EFS FINANCE CO

Loan Type: Student Loan Remark: Account closed due to transfer
>Maximum delinquency of 120+ days in 11/2002<

Pay Status: >120 Days Past Due<

Nelnet

Transunion:

Loan Type: Student Loan Remark: Account closed due to transfer
>Maximum delinquency of 120+ days in 11/2002<

Pay Status: >120 Days Past Due

The reason I put the two up from Transunion is that these appear to be the same account reporting twice from the same company. EFS Finance is now Nelnet.

Any takers?

That status refers to the LAST TIME the TL was updated. It was 120+ days past due, right? It's reporting correctly, but you may want to dispute it and see if you can have it removed.

Okay. Since the last time the TL was updated was in 2002 how can I get the information corrected I have disputed it 3-4 times already and talked to EFS/Nelnet.

Now Experian shows "Last Reported Date: 12/2004" and "Account History:
150 days as of Aug 1999
120 days as of Jul 1999
90 days as of Jun 2000, Jun 1999
60 days as of Jul 2001, May 2000, May 1999"

So how could the current status be what it is and its been consolidated since 2003?

Tell me what you think is wrong with the way it's reporting. It IS correct as of the dates you mentioned, right? Even though it's not correct TODAY, it WAS correct in 1999. And those are the dates that it says it was past due.

The only thing you can do is try a good will and see if that works. Otherwise, I wouldn't really sweat it. The lates are in 1999 and they will come off next year; they aren't really holding your scores down at this point.

The accounts appear as a negative items om my credit reports. The accounts are actually closed and paid off so I don't not what I would propose in the goodwill letter.

Well what I see wrong is Experian:

Status:
Transferred/Current, was past due 150 days. Deferred, payment date unknown

Creditor's Statement:
Account closed due to transfer


Transunion:

Loan Type: Student Loan Remark: Account closed due to transfer
>Maximum delinquency of 120+ days in 11/2002<

Pay Status: >120 Days Past Due<

Nelnet

Transunion:

Loan Type: Student Loan Remark: Account closed due to transfer
>Maximum delinquency of 120+ days in 11/2002<

Pay Status: >120 Days Past Due

This account on my transunion report is actually the same account. EFS and Nelnet are one in the same. What I see wrong is how can I have a current pay status of 120 Days Past Due or payment date unknown when the account is closed and has been closed for some years now.

Thanks for your help thus far.

It's not wrong though. It is listing the pay status as of the time the acccount was closed. They appear as negative items because they ARE negative items. Just because you consolidated they didn't suddenly become positives.

I understand them not becoming positive items. I guess I am looking at the way it is stated and I don't understand how if the account is "Transferred/Current, was past due 150 days. Deferred, payment date unknown." How can the payment date be unknown and the account is closed there is no payment date. Also if the "Account closed due to transfer" how can the pay status say 120 Days Past Due. I know the lates will still show up in the history but how can an account say two different things account closed but the payment is 120 days past due or the payment date is unknown.

At the time the accounts were closed the loans were in deferrment. They were not late at the time of the consolidation. I acutually did not request the consolidation. It was done because EFS switched over to Nelnet and they consolidated them. Also how is that two of the accounts are being report twice once from EFS and once from Nelnet.

I see that you are new (6 posts total) and from the questions that you are asking, it seems to me that you have not really read the older posts on this site.
Please read some more and I think that your questions will be easily answered, I really don't have the energy to type out the basics for you. You have to do a little bit of homework, otherwise, its just annoying.