I defaulted on my loans back in the 1990's and consolidated all of them under a Direct Loan in early 2004. The 3 main CRA's are all reporting them differently. Experian is reporting them as charge off's - some with balances - on a monthly basis, even though they were transferred and paid off nearly 2 years ago. I have disputed and written letters with no change in reporting. They keep coming back validated. TU reports some as PAID collections and some as Transferred CO's. Equifax is reporting some as 120 days late and CO's and some PAID. Some show balances when I have itemized proof that they were all paid in 2004. I have tried everything I can think of to clean my report up but since they report each loan as an individual account I am stuck with nearly 25 accounts that appear delinquent. When I call the original loan providers on the phone they claim they have no way of knowing I paid them off??? So now I am stuck with about $50,000 of Paid accounts showing delinquent and a $90,000 account that consolidated all of them that shows in good standing since 4-2004. Any suggestions?

If you're talking about the original lender and the way they are reporting, then there's really not much you can do. You did default, and the loans were transferred. The only thing I can suggest is the ones that are reporting balances you should hound them to at least change that to a zero balance.

Sorry I don't have better news, but this is part of the fallout from defaulting on a SL. Trust me, I know.

One of the problems is that most of the delinquent loans that are showing up on my report are through AFSA. I called them and they couldn't find any account information for me under my SS number because they said all of the loans were transferred to Great Lakes Higher Education. AFSA uspdates all of my accounts as CO's each month. Is that standard practice when an account is transferred and has been paid in full?

AFSA was your servicer and they would have filed a claim against Great Lakes upon your default. CSR's cannot acess any account information because the account no longer is active with them. However for credit report purposes, it pulls off the archives , reporting your final status on the acount.

Thanks for the info. So they are just going to keep updating the account as a current CO until 7 years expires even though it is a paid transfer? I know I can't make the account just go away but is there anything I can do to stop them from updating every month since they no longer own the account or does it really matter score wise?

It is not quite a paid transfer...it is a default. And yes it will keep reporting until the SOL runs out. Standard reporting for all defaults.