I have a student loan from Direct Loans. On my EQ credit report as:

Date Opened: 8/2000
High Credit: $0
Credit Limit: $0
Balance: $0
Amount Past Due: $0
Date of Last Activity: 02/2002
Date Closed:2/2002

Current Status: Over 120 days past due; claim filed with guarantor.

EQ just added the 120 days past due in January. I disputed this account and it came back verified. So I sent a OC verifiction letter to Direct Loans. They sent me letter stating that they reported "loan-2" as:

December 17, 2004 60 days past due
January 14, 2001 90 days past due
The "loan-2" defaulted on Nov 30, 2001. On Feb 13, 2002 it was transferred to the Dept of Education's Debt Collection Service.

In the letter, they did't mention the 120 days past due at all and how can the loan be 90 days past due in 2001, then reported as 60 days in 2004. If the loan was transfered to the Dept of Ed in Feb 2002, how can they report any lates after that date.

This doesn't make any sense! My EQ report is showing that I am currectly late on a loan with no high credit, no balance, and closed for over 3 years.

That is the correct way that student loans are reported. They often dont go above 120 days as it actually takes 225 days for a loan to default.

How can this be correct reporting? I can see if it said 120 days past due in 2002 but not currently 120 days past due as of 1/2005. Also, the High Credit is listed as $0. I don't recall getting a loan in the amount of $0. Did they file a claim with the government in the amount of $0. Also, I received the loans in 1997/98, so how can they have an opening date of 2000. Everything in this tradeline is wrong. This tradeline and the 120 day status is only on my EQ report. I have 2 other tradelines from Direct Loans and they appear to be correct and they have an actual amount listed for the High Credit.