Hi....Trying to get my reports cleaned up. The Equifax site has this account as a negative.

It is in deferrment and I had some lates back in 2004....perhaps those are the 'negatives'.

I'm not familiar with all of the violation intricacies. Does anyone here see anything wrong with the way this account is reporting? I know that Sallie Mae and Equifax were having some issues....just making sure that I'm not one of the victims.

Account Number: XXXX
Current Status: PAYS AS AGREED
Account Owner: Individual Account.
High Credit: $16,818
Type of Account : Installment
Credit Limit: $0
Term Duration:
Terms Frequency:
Date Opened: 12/1997
Balance: $29,611
Date Reported: 05/2008
Amount Past Due: $0
Date of Last Payment:
Actual Payment Amount: $0
Scheduled Payment Amount: $0
Date of Last Activity: 02/2007
Date Major Delinquency First Reported:
Months Reviewed: 24
Creditor Classification:
Activity Description: N/A
Charge Off Amount: $0
Deferred Payment Start Date:
Balloon Payment Amount: $0
Balloon Payment Date:
Date Closed:
Type of Loan:
Date of First Delinquency: N/A


Erin

HI Erin:

I am not sure why it is reporting as negative. The only thing I can see is that they are reporting a $0 credit limit and a $16K high credit and a $29K balance, which some systems might interpret as being over the limit.

Actually, I think the way they are reporting is helping as much as it is hurting. I am not sure if a deferment is considered a negative, but they aren't reporting this as an education loan that is deferred.

• Account type should be Education
• The fact that they are reporting status as 'pays as agreed' is good. they should be reporting "Open account/payments deferred"

When you say it is showing as negative, are you just looking at the credit report or are you looking at a FICO score?

Before I did anything, I would purchase your FICO from myFICO.com (if you haven't already) The ones on EQ are also FICO, and i am not familiar with the information they give you, but on myFICO, they give you a little explanation of what is hurting your score...they will put a little red flag next to any accounts that are hurting your score...but they won't tell you specifically what it is about that account.

You got it. It's the lates, even aged ones, that make the account fall into the negative category.

yeah, I have some lates on my SL loan from 2005 and they are making the account negative for me - I'd guss that's what it is for you, too.

Thanks for the replies!!


This is how it shows on my Equifax Fico.....

Status as of [?] May, 2008
Date opened [?] Dec, 1997
Date of last activity [?] Feb, 2007
Date closed [?] Not Reported
Account number [?] XXXXXXXXXXXXXXXX1229
Loan type [?] Not Reported
Largest past balance [?] $16,818
Terms [?] Not Reported
Account Type [?] Installment
Account holder [?] Individual
Scheduled payment amount [?] $0
Account status [?] Account is Open

$29,611 Pays account as agreed $0 past due


I also pulled my Equifax report from the Equifax site.....there it tells me that I have 139% utilization on my installment loans....huh....I didn't think they had utilization like credit cards.


If you all are telling me that it is reporting correctly, perhaps the utilization this is just a glitch in the Equifax site.


Thanks again,
Erin