Hi all, I have 5 student loans that are currently reporting incorrectly on experian (reporting as derogatory, 180 days late, and charged off). I've confirmed and reconfirmed (going to the nslds website (thanks TXQuilty - there is no mention of derogatory/default status and all accounts are current. The company that is servicing my loan now also has no derogatory listing and are current). Would it just be a simple matter of shooting a letter to EX and in a sense just tell them to update as the current status of my loans are not accurate and that by law, they have to update? TIA for any and all insight.

ggtc

Would it just be a simple matter of shooting a letter to EX and in a sense just tell them to update as the current status of my loans are not accurate and that by law, they have to update? TIA for any and all insight.

Write them or dispute online. Since your service company is not showing any negatives if the CRA does their job and verifies this then the negative info should come off. That's the perfect world scenario. If you've been reading the boards you know the world is not perfect and you may have to dispute more than once but by law the info on your report should be accurate so you should dispute until it is accurate.

Were you in default at one point in time??? Did you consolidate or rehab??

Hi Lynn,

EX is reporting as seriously delinquent 180 days/CO however I've checked (and double checked) through my servicer and the NSLDS, and according to both of them, my loans at WORST were just seriously delinquent and NEVER reached default status. The last update to EX concerning these loans was in '03. Just an update, a few days ago, I was able to consolidate these loans and per the rep, "You're starting with a fresh slate by reconsolidating" so I think I'll hold off any disputes and see how EX will update and will dispute, if need be (TU and EQ are reporting 'current' and 'paid as agreed' with no derogatory notations).

ggtc

Unfortunately, I don't think this means what you want it to mean (and what it sounds like it should mean!). The consolidation will show up as a completely new TL and the previous loans will be paid off. It won't do anything to the old TL except show a zero balance (and switch it from "open" to "closed"). What the rep meant by "starting with a fresh slate" was that the new TL would be a clean TL with no negatives; they weren't talking about the old TL.

Here's a word of warning, though. Think very hard about disputing with EX. Because you were late in the past, SLs are notorious for not only correcting the CR that you're disputing, but also correcting it on the others as well. So, it could turn out that the default notation will be removed from EX, but the late information will stay and will be added to TU and EQ which don't currently have any negatives.

Hope this helps, although I don't think it was stuff that would be positive for you!! Good luck!!

Ziggy,

Thanks for the insight. That being said, I'll just hang tight and see how it pans out. Hoping for the best.

ggtc

Not only that, they also tend to find ALL the lates and add those they may have forgotten, if this, in fact, the case. They seem to keep meticulous records They didn't have to be in default to report lates, so it sounds that they may be reporting correctly. I've found disputing them somethings makes them worse so tread lightly.

i have a delinquent studen loan they have the wrong social what should i do
alldat