I have two student loans that were opened in 2/2000. The dola is 1/2001. These loans should fall off 1/2008 right . TU says these same two loans will fall off 12/2007. But those crazy people in texas EXP say these loans will fall off 8/2007 WTF
How do I fix this. I read the higher education act but not sure if I am understanding it correctly. One loan has a balance of $43,161 and the other loan has a balance of $33,576, I was hoping for a nice score increase after these fall off. I am currently paying on these loans. These loans were opened 12/2000


Here is my letter i am writing to EXP, please review this is making me crazy

November 25, 2007
Experian
PO Box 9556
Allen, TX 75013

This letter is being sent to you in response to a listing on my credit report. You are reporting account numbers XXXXXXXX and XXXXXXXX as scheduled to be removed on 8/2008. This is incorrect; I do not have an account with the Department of Education that has a Date of first delinquency of 8/2001.

Best Regards
XXXXXXX

I am default on these loans. I consolidated these loans back in Dec 2000 then I went into default, I am making good faith payments on these loans to avoid garnishment. They are just updating the DOLA to the last payment date. TU is deleting these loans on Dec 2007 EQ will be deleting these loans on 1/2008 the DOFD 1/2001 for these loans. but EXP says they will get delted 8/2008. Hope this helps!

on these loans. I consolidated these loans back in Dec 2000 then I went into default,

It takes 9 months or 270 days to default. That would bring your date to at least 08/2001. DOLA does NOT apply. The seven year rule goes from the claim paid date.



I am making good faith payments on these loans to avoid garnishment. They are just updating the DOLA to the last payment date. TU is deleting these loans on Dec 2007 EQ will be deleting these loans on 1/2008 the DOFD 1/2001 for these loans. but EXP says they will get delted 8/2008. Hope this helps!

Again DOFD and DOLA do not count for student loans. Everything is based off the claim paid date.

the claim pay date was 12/2000, should exp be deleting this 12/2007 just as TU is planning??

If you consolidated the loans 12/2000, you couldn't have defaulted in the same month, even if you consolidated it and never, ever actually made a payment. As Lynn said, it takes 270 days to default. "Claim paid" is not the consolidation date; it's the date the loan defaulted and was returned by the lender to the guarantor for payment.

Note also that those "date of deletion" lines don't always work all that well all the time for SLs. I believe that those dates are using the standard 7 years from DOLA that is the case with standard debts, but are not true for SLs.

Hope this helps!

If the delinquency started 1/01, the default date could be 8/01.

The loans feel off of TU and EQ this week. I guress I will just wait unti 8/2008 for EXP. Oh well