I've got a student loan that went into default. The original Loan was broken into two seperate loans.
They were sold to Lone Star Services, who were then bought out by Nel Net. Lone star is showing "Closed", but still have a balance on two accounts.
Called Nel Net, and they looked into it. They sent me a letter saying that everthing with them was correct.
Called them again today, and they want a copy of my credit report so they can look into it?
Should i just submit a dispute with all three bureaus?
PLEASE HELP! Thanks
Full Version: HELP Please!
Anybody?
QUOTE (bazerk @ Jul 7 2009, 04:20 PM) 
I've got a student loan that went into default. The original Loan was broken into two seperate loans. What kind of loan?
They were sold to Lone Star Services, who were then bought out by Nel Net. Lone star is showing "Closed", but still have a balance on two accounts.
FWIU, subsidized loans don't get sold to CA's, they only get sold back to the guaranteeing agency. If they are subsidized, the federal or state government owns them.
Called Nel Net, and they looked into it. They sent me a letter saying that everthing with them was correct.
Called them again today, and they want a copy of my credit report so they can look into it?
If the loans are federally-suzbsidized and they wen't into default, they won't come off of your reports until after 7 years, sometimes longer, per congressional mandates.
Should i just submit a dispute with all three bureaus? It won't work if you are in default. You need to clear them up. The only way I know to get the derogs off of your reports is to go into rehab.
PLEASE HELP! Thanks
They were sold to Lone Star Services, who were then bought out by Nel Net. Lone star is showing "Closed", but still have a balance on two accounts.
FWIU, subsidized loans don't get sold to CA's, they only get sold back to the guaranteeing agency. If they are subsidized, the federal or state government owns them.
Called Nel Net, and they looked into it. They sent me a letter saying that everthing with them was correct.
Called them again today, and they want a copy of my credit report so they can look into it?
If the loans are federally-suzbsidized and they wen't into default, they won't come off of your reports until after 7 years, sometimes longer, per congressional mandates.
Should i just submit a dispute with all three bureaus? It won't work if you are in default. You need to clear them up. The only way I know to get the derogs off of your reports is to go into rehab.
PLEASE HELP! Thanks
Okay, and a word to the wise... I know you're a newby, but I think you'll get more responses by not writing subject lines like "please help!" It's a lot easier for those of us who monitor the boards to track threads with more specific titles. I usually don't even open generically-titled threads.
Thanks Jaymes
I am CURRENT on the loans, now with Nel Net.
No longer in default
Nel Net bought out Lone Star, who are still showing a balance on three accounts that are closed
.
I'll try better next time on the title............
I am CURRENT on the loans, now with Nel Net.
No longer in defaultNel Net bought out Lone Star, who are still showing a balance on three accounts that are closed
.I'll try better next time on the title............
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