Alright--

This loan is from '99 and is being reported on my credit as such:


TU:

*NAME OF SCHOOL HERE** (Individual Account)
Credit Grantor Contact Information
Not on record
Account Number *************
Account Type Installment Account
Credit Limit
(High Credit)
$5,500
Minimum Monthly Payment (Terms) $61
120 Monthly
Date Opened September, 1999
Date of Last Activity Not on Record
Date Paid Out Not on Record
Date Closed May, 2004
Loan Type Student Loan
Collateral DEFERRED TO 01012004
Description Placed for collection

Not on Equifax

EX:
**NAME OF SCHOOL** (Individual)
Credit Grantor Contact Information
Not on record
Account Number *********
Account Type Installment
Credit Limit
(High Credit)
Original Amount $5,500
Minimum Monthly Payment (Terms)
120 Months
Date Opened September, 1999
Date of Status May, 2004
Last Payment Date Not on Record
Loan Type Education Loan

I got a call from this place at the end of last year; I spoke to them on the phone and freaked out when they demanded a payment of 7,000 (!!). This is the only one of my loans that is not being handled by Sallie Mae. ALL of my other loans are current and payments have been made on them regularly.

I do not honestly remember this loan but it's quite possible; this would have been from my first year at school. The address my CRAs have on file is the main address for the school, which I don't believe is correct at all because it's not being handled by my school anymore.

To make things more confusing, this is the only TL that's appearing under this name. All the other loan information is current and is related to the Sallie Mae loans.

I haven't had phone calls for a while, but they will occasionally call my mother (!!) and reference my school's name, usually mispronounced. They leave messages but I don't have any of those any more.

I definitely need more information on this to figure out what I need to do, if I need to rehab or contest it. I honestly do not remember this loan at all; should I sent a DV? Should I contest at the two CRAs it is reporting at?

-AQ

This sounds like a Perkins Loan...they are federal loans. Call the school....they are responsible for collecting their own loans since they administered it.

I had thought it would be a federal or a school loan (definitely not a private loan--they would be calling nonstop!) from the small amount of calls we had. Thank you for your confirm of that.

Would the Perkins loan be open to rehab? It definitely has passed the point (into default) where it should be...

yup you can rehab Perkins loans. They require 12 on time payments.