I have a loan with Nelnet that I re-fie'd in June 2005. First payment was due 9/12/2005.
I paid it on that date online. For some reason they have not been able to satisfactorily explain, they couldn't get the first payment to clear my WAMU account. The account # was right and I have $1000 automatic overdraft with WAMU and besides, I wasn't even close to overdrawn.
Nevertheless, I pull my credit reports this weekend and see that they are reporting me 90 days late! Now, I talked to someone right before my October payment because it showed me past due. He explained there was some problem with the WAMU payment so I said fine I'll pay it twice as much now. I warned him I didn't want to pinged for this late and he told me he'd fix it!
Also, I have two prior 90 day lates on the OLD loan before consolidation, one 7/2001 and one 8/2002, that resulted because they failed to process my timely forebearance requests even though I specifically told them that they needed to process in time to hold off any credit reporting issues. I found my fax from 2001 but can't find my backup documentation from 2002. What, if anything, can I do about this? These are the only lates on my whole report now!
Full Version: ARGGGH HELP!
QUOTE(Euterpe Thelo @ Apr 17 2006, 09:41 PM) 
I have a loan with Nelnet that I re-fie'd in June 2005. First payment was due 9/12/2005.
Are you sure??? 1st payments on consolidations are usually due 30-45 days after funding.
I paid it on that date online. For some reason they have not been able to satisfactorily explain, they couldn't get the first payment to clear my WAMU account.
The lender has nothing to do with a payment clearing an account. This sounds like a WAMU problem.
The account # was right and I have $1000 automatic overdraft with WAMU and besides, I wasn't even close to overdrawn.
Nevertheless, I pull my credit reports this weekend and see that they are reporting me 90 days late! Now, I talked to someone right before my October payment because it showed me past due. He explained there was some problem with the WAMU payment so I said fine I'll pay it twice as much now. I warned him I didn't want to pinged for this late and he told me he'd fix it!
CSR's can do nothing to fix your lates. He may have submitted an investigation but if it was not their error, they will do nothing.
Also, I have two prior 90 day lates on the OLD loan before consolidation, one 7/2001 and one 8/2002, that resulted because they failed to process my timely forebearance requests even though I specifically told them that they needed to process in time to hold off any credit reporting issues. I found my fax from 2001 but can't find my backup documentation from 2002. What, if anything, can I do about this? These are the only lates on my whole report now!
Probably nothing. It is always the students responsiblity to submit deferments/forbearances on a timely basis. They take time to process and that has to be anticipated.
Are you sure??? 1st payments on consolidations are usually due 30-45 days after funding.
I paid it on that date online. For some reason they have not been able to satisfactorily explain, they couldn't get the first payment to clear my WAMU account.
The lender has nothing to do with a payment clearing an account. This sounds like a WAMU problem.
The account # was right and I have $1000 automatic overdraft with WAMU and besides, I wasn't even close to overdrawn.
Nevertheless, I pull my credit reports this weekend and see that they are reporting me 90 days late! Now, I talked to someone right before my October payment because it showed me past due. He explained there was some problem with the WAMU payment so I said fine I'll pay it twice as much now. I warned him I didn't want to pinged for this late and he told me he'd fix it!
CSR's can do nothing to fix your lates. He may have submitted an investigation but if it was not their error, they will do nothing.
Also, I have two prior 90 day lates on the OLD loan before consolidation, one 7/2001 and one 8/2002, that resulted because they failed to process my timely forebearance requests even though I specifically told them that they needed to process in time to hold off any credit reporting issues. I found my fax from 2001 but can't find my backup documentation from 2002. What, if anything, can I do about this? These are the only lates on my whole report now!
Probably nothing. It is always the students responsiblity to submit deferments/forbearances on a timely basis. They take time to process and that has to be anticipated.
Yes I'm sure. Due date was in 9/2005, I have the statements right here.
Well, I haven't been able to get an answer from anyone about what the problem was. WAMU is the best bank ever; I've never had a problem with them that they weren't willing and able to fix very easily.
The error quite possibly WAS theirs. I paid in good faith. They never even notified me there was a problem of any kind with the payment and when I DID find out and notified them, they said they'd fix it and they did not.
My forebearance request WAS submitted timely. 3 weeks ahead of time actually. Why is it that I'm asking for help and the tone of this thread is basically to blame me for everything that has happened?
Well, I haven't been able to get an answer from anyone about what the problem was. WAMU is the best bank ever; I've never had a problem with them that they weren't willing and able to fix very easily.
The error quite possibly WAS theirs. I paid in good faith. They never even notified me there was a problem of any kind with the payment and when I DID find out and notified them, they said they'd fix it and they did not.
My forebearance request WAS submitted timely. 3 weeks ahead of time actually. Why is it that I'm asking for help and the tone of this thread is basically to blame me for everything that has happened?
Lynn,
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.
Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
QUOTE(CargoJon @ Apr 21 2006, 12:54 PM)
Lynn,
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here , but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.
Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
Thanks!!
I just don't believe in sugar coating anything. It is the attorney in me!! I just know enough as to how the guarantors, lenders and CA's function enough to know that unless you can prove 100% that they caused something to happen, they wont do anything about it. I basically tell the story from their side. I still have contact with friends and co-workers who work at these at these agencies and I will frequently email or IM them with questions.
In person, Lynn is very loveable!!!!
QUOTE(LynnInMN @ Apr 21 2006, 02:26 PM)
QUOTE(CargoJon @ Apr 21 2006, 12:54 PM)
Lynn,
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
Thanks!!
I just don't believe in sugar coating anything. It is the attorney in me!! I just know enough as to how the guarantors, lenders and CA's function enough to know that unless you can prove 100% that they caused something to happen, they wont do anything about it. I basically tell the story from their side. I still have contact with friends and co-workers who work at these at these agencies and I will frequently email or IM them with questions.
In person, Lynn is very loveable!!!!
We love you no matter what your checkered past may have included, Lynn!
OK, understood and thanks to all for the clarification. I work with attorneys all day, so I don't believe in sugar coating either, but I DO have absolute proof of everything I am saying. I have the payment receipt for the 9/2005 payment and all the fax paperwork regarding my forebearances. My question is mainly who I need to talk to at Nelnet, i.e. who has the power to fix the way this is reporting. I've never tried a goodwill letter to a student loan company before and other than one incorrect collection I am also fighting (and winning so far) this is the only negative left on my reports. Since I don't think they fall under FDCPA and FCRA, I am out of my element and am just trying to get some insight. Thanks.
QUOTE(LynnInMN @ Apr 21 2006, 03:26 PM)
QUOTE(CargoJon @ Apr 21 2006, 12:54 PM)
Lynn,
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
Thanks!!
I just don't believe in sugar coating anything. It is the attorney in me!! I just know enough as to how the guarantors, lenders and CA's function enough to know that unless you can prove 100% that they caused something to happen, they wont do anything about it. I basically tell the story from their side. I still have contact with friends and co-workers who work at these at these agencies and I will frequently email or IM them with questions.
In person, Lynn is very loveable!!!!
Lynn,
I have no doubt about your personality in person
Just meant to give the OP a little bit on your background so they understood, which it appears that they now do, why things sounded they way they did sometimes.Thanks again for all your help on this forum
So, the $64,000 question is, are student loan companies liable under the Fair Credit Reporting Act for reporting egregiously inaccurate information?
I just went over my credit reports again and noticed something VERY disturbing.
They are reporting me 90 days late on one of the new loans that were the result of consolidation that was disbursed in June 2005, and reporting that it was 90 days late in June 2005! My first payment after coming out of forebearance on the OLD pre-consolidation loan wasn't even due until May 2005 (and yes, I have proof of that too), so at the MOST they might call me 30 days late because I let the consolidation take care of that. I can live and would be willing to take my lumps for a 30 day late as the rest of my report is alllllmost clean now, but I'll be damned if I'm going to let them add 60 days to it!
Even worse, they are reporting me as CURRENTLY 90 days late on one of the OLD loans that was refinanced in June 2005!!!! Even though they show it as "closed/refinanced"!!!!
Further, as I said, not only do I have my original proof that I made that 9/2005 payment (in the form of a payment receipt that I printed at the time with a confirmation number)...but tonight I found stone-cold additional back up paperwork...the e-mail confirmation that they sent me the same day AND my subsequent month's statement SHOWING THE PAYMENT WAS MADE for the previous month).
By the by, I also found the fax from 08/02 that was the only piece of documentation I was missing re: the old old lates.
So, first of all, as anyone can plainly see, I am NOT imaging things! But I do need to put my ducks in a row regarding their liability for massively incorrect reporting.
I have just written a nice letter to the CEO of the company with supporting documentation as a first attempt, but, if it doesn't work, I need to be aware of my rights before I threaten them with an ITS letter next.
I just went over my credit reports again and noticed something VERY disturbing.
They are reporting me 90 days late on one of the new loans that were the result of consolidation that was disbursed in June 2005, and reporting that it was 90 days late in June 2005! My first payment after coming out of forebearance on the OLD pre-consolidation loan wasn't even due until May 2005 (and yes, I have proof of that too), so at the MOST they might call me 30 days late because I let the consolidation take care of that. I can live and would be willing to take my lumps for a 30 day late as the rest of my report is alllllmost clean now, but I'll be damned if I'm going to let them add 60 days to it!
Even worse, they are reporting me as CURRENTLY 90 days late on one of the OLD loans that was refinanced in June 2005!!!! Even though they show it as "closed/refinanced"!!!!
Further, as I said, not only do I have my original proof that I made that 9/2005 payment (in the form of a payment receipt that I printed at the time with a confirmation number)...but tonight I found stone-cold additional back up paperwork...the e-mail confirmation that they sent me the same day AND my subsequent month's statement SHOWING THE PAYMENT WAS MADE for the previous month).
By the by, I also found the fax from 08/02 that was the only piece of documentation I was missing re: the old old lates.
So, first of all, as anyone can plainly see, I am NOT imaging things! But I do need to put my ducks in a row regarding their liability for massively incorrect reporting.
I have just written a nice letter to the CEO of the company with supporting documentation as a first attempt, but, if it doesn't work, I need to be aware of my rights before I threaten them with an ITS letter next.
Just had to come back and tell y'all. There IS hope on student loan baddies, at least ones you can prove are incorrect!
My aforementioned nicely worded letter to the CEO worked like a voodoo charm. I got a letter from the SL company today that they apologize for all the inconvenience they have caused me and gave me TU and EQ tracking numbers for their update request to the credit bureaus removing all my negatives!!!!!!!!!!!!!!
Hope springs eternal. Sometimes we should just listen to it, even when we're told what we are asking can't be done.
My aforementioned nicely worded letter to the CEO worked like a voodoo charm. I got a letter from the SL company today that they apologize for all the inconvenience they have caused me and gave me TU and EQ tracking numbers for their update request to the credit bureaus removing all my negatives!!!!!!!!!!!!!!
Hope springs eternal. Sometimes we should just listen to it, even when we're told what we are asking can't be done.
QUOTE(Euterpe Thelo @ May 10 2006, 08:49 PM)
Just had to come back and tell y'all. There IS hope on student loan baddies, at least ones you can prove are incorrect!
My aforementioned nicely worded letter to the CEO worked like a voodoo charm. I got a letter from the SL company today that they apologize for all the inconvenience they have caused me and gave me TU and EQ tracking numbers for their update request to the credit bureaus removing all my negatives!!!!!!!!!!!!!!
Hope springs eternal. Sometimes we should just listen to it, even when we're told what we are asking can't be done.
My aforementioned nicely worded letter to the CEO worked like a voodoo charm. I got a letter from the SL company today that they apologize for all the inconvenience they have caused me and gave me TU and EQ tracking numbers for their update request to the credit bureaus removing all my negatives!!!!!!!!!!!!!!
Hope springs eternal. Sometimes we should just listen to it, even when we're told what we are asking can't be done.
Where did you get contact info for the ceo?
Similar situation here with pif (consolidated) SLs reporting open, 90 late.
Loans were with Chela, now owned by Nelnet.
TIA
Brandon
QUOTE(pb4ugo @ May 21 2006, 02:56 PM)
QUOTE(Euterpe Thelo @ May 10 2006, 08:49 PM)
Just had to come back and tell y'all. There IS hope on student loan baddies, at least ones you can prove are incorrect!
My aforementioned nicely worded letter to the CEO worked like a voodoo charm. I got a letter from the SL company today that they apologize for all the inconvenience they have caused me and gave me TU and EQ tracking numbers for their update request to the credit bureaus removing all my negatives!!!!!!!!!!!!!!
Hope springs eternal. Sometimes we should just listen to it, even when we're told what we are asking can't be done.
Where did you get contact info for the ceo?
Similar situation here with pif (consolidated) SLs reporting open, 90 late.
Loans were with Chela, now owned by Nelnet.
TIA
Brandon
Hey can you PM me the details of who you sent a letter to? I am in a similar but little different situation. THANKS!
QUOTE(LynnInMN @ Apr 21 2006, 02:26 PM)
QUOTE(CargoJon @ Apr 21 2006, 12:54 PM)
Lynn,
FYI, Nelnet often offers borrowers and extended first payment date as a side-benefit to going with them. This is probably what the OP had.
To the OP:
You have to understand that Lynn is a former collector for student loans. We love her, her advice is great here
, but from time to time it might sound like she still has that "customer is always wrong" approach left over from the collector days.Trust me, it's nothing personal, just Lynn's personality. Again, she's a very valued member here and her advice has helped a lot of people, but I can understand why you'd feel like she might have been coming after you a bit.
Thanks!!
I just don't believe in sugar coating anything. It is the attorney in me!! I just know enough as to how the guarantors, lenders and CA's function enough to know that unless you can prove 100% that they caused something to happen, they wont do anything about it. I basically tell the story from their side. I still have contact with friends and co-workers who work at these at these agencies and I will frequently email or IM them with questions.
In person, Lynn is very loveable!!!!
I just don't believe in sugar coating anything.
Oh, that explains it then.
pksdpt, is there a point to the above post? I'm SURE you didn't make it just to cause trouble, did you?
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