My score went down -1 on Equifax and unchanged on the others.  WTF?

Any insight would be appreciated.  I am trying to get a mortgage By February and need a good bump up. 

Ok...so I have federal graduate student loans, lots of em, in various states of repayment. Even though the government is shut down, I recognize any dispute I file with a CRA over a federally guaranteed student loan will likely just go to the loan servicer & NOT to the (somewhat closed due to the shutdown?) Dept of Education. It's pretty simple math...file 10 disputes on 10 loans, 9 are likely to come back as verified.

But what about following up after the original WRITTEN DISPUTE & re-writing asking for the 'procedural method' they performed my dispute. We all know the D of E is currently basically unstaffed & obviously not responding to any of these disputes. 

Per the letter of the law, how likely am I to get deletions on them for missing required dispute deadlines?

Yes, they can reinsert them later theoretically.

I recognize my loans 'will not disappear,' but what are the chances I could get them 'removed' at least for a while until the whole system 'gets itself back in order?' 

TIA for any input

I noticed a few issues with their reporting including the balances being slightly wrong, as well as the "date opened" also being wrong. Is it worth a shot across the bow and disputing these with the credit bureaus / is there such thing as a dispute to remove a late payment because of inaccurate information? (I know that sounds like quite an intense technicality but in our modern era of bureaucracy wondering if that's possible)

Thank you all!

My thoughts... the balances on both loans are low and can be easily paid off. $1400 total 

What are my chances on calling the servicer and offering to pay in full if they will delete any or all of the reporting late pays from Oct, Nov, and December? I haven't missed a payment in the past two years. If they decline with the usual we have to report the truth blah blah blah.. pay them off and start sending off disputes with the hopes that at some point since they are paid in full the creditor just won't respond and the entire tradeline will be deleted? Any thoughts or advice would be greatly appreciated!  

My question is, why is this appearing now, when I have had zero communication from any student loan servicing center in over 30 years.  Could this be mistakenly reported, and if so should I try to clear it, or just lay low.  I have not received any bills or statement requesting any kind of monthly payment.

The CR also states that 0% has been paid off, and that there is a "zero" monthly payment.

You’ve been making payments on your student loans during the payment pause, but you should still make sure you understand what the end of the COVID-19 student loan relief means for you.

The 0% interest on your student loans is ending. Student loan interest resumes on Sept. 1, 2023. This means your loans will start accruing (building up) interest again at your regular interest rates.

If you are concerned about your ability to make payments, an income-driven repayment (IDR) plan may be the right plan for you. A new income-driven repayment plan is now available: the Saving on a Valuable Education (SAVE) Plan. SAVE is the most affordable repayment plan ever created, which will cut monthly payments in half for many borrowers, stop runaway interest charges that increase your loan balance, and provide a path to forgiveness.

Compare repayment plans to see if the SAVE plan is right for you.

We’re here to provide support and resources so you can identify the needs of your unique financial situation.

One issue that has me perplexed is my federal school loans are showing an open date of 7/17 on my credit report. I originally opened and default the loans in 2010 with pheaa/AES and the loan never changed hands over that time. I did attempt the rehab in 2017 but it was never paid on due to bad timing of a job loss. 

I am currently waiting on PHEAA to send me payment history, but outside of that what else should I ask for to get loan originating date along with origial delinquency date? I am trying to have that part of my life behind me and off my credit report. 

Over 10-14 years old. How do I get them deleted?

Navient

Opened: 8/2007

Last Payment: 12/2011

Closed: 7/2018 (sold to anther lender)

Account Status: Transferred

Appears on Reports As

TransUnion: Current on 8/2017 then 90-119 days late on 9/2017. Last reported to TransUnion on 7/2018

Equifax: Account does not appear 

Experian: Account does not appear

Notes

-Loan has gone in and out of repayment due to full time college student deferment. 

-Other Navient Accounts appear on all 3 reports

-No 3rd party collection attempts have been made, nor has the debt been sold (no notification of this from new title holder.)

Questions

1) SOL is from last payment but how is in/out of deferment treated with relation to SOL? 

2) I assume as it's only reported on TransUnion and based on last reported date (7/2018), no collection attempts that it's SOL?

2) Should I dispute accounts directly via TransUnion?

Lost paperwork? Unexpected and lengthy delays? Different answers each time you call your servicer with questions?

Every day, we hear from borrowers experiencing these problems as they struggle to repay their student loans. We’re here to help.

If you have federal student loans and are trying to make your payments more affordable, you can change your repayment plan at any time. Almost all federal student loan borrowers have the right to a repayment plan that can set their monthly student loan payment based on their income. These income-driven repayment (IDR) plans can make your monthly payment as little as 10 percent of your income.

Despite the right to an IDR plan, borrowers still struggle to enroll. Generally, processing your IDR application should take no more than two weeks. However, many borrowers have told us that their applications sit under review for months at a time. As these borrowers linger in repayment limbo, they lose account benefits, their loans accrue interest, and progress towards loan forgiveness is halted. Today, we released a report detailing these obstacles, and many more.

We can help you stay on track to get an income-driven payment

We released the new Income-Driven Repayment Application Fix It Form (IDR Fix It Form ). If you’re one of the millions of borrowers who don’t use their tax return when enrolling in or recertifying income under an IDR plan, the IDR Fix It Form can guide you through the process of submitting alternative documentation of income. Additionally, the IDR Fix It Form can facilitate actionable communication from your servicer, and help you avoid IDR application abyss.

By submitting the IDR Fix It Form with your IDR application, your servicer can clearly communicate whether your application has been approved, denied, or needs to be corrected. If a correction is needed, the IDR Fix it Form can help you understand how to "fix it" and stay on track.

Here is how you can use the IDR Fix It Form: Begin the online application at studentloans.gov , and print out the completed application to include in your submission to your servicer. You can also find a copy of the application here . Next, follow the instructions specific to your financial situation in our IDR Fix It Form to guide you through the rest of the application proce

I struggled through my son's first year of college paying cash because my income was too high to qualify for financial aid. They gave us virtually nothing by way of fed loans, and I couldn't apply for private loans due to my active CH13.

Now trying to figure out what our options are for next fall. Would I be able to qualify for a private loan post-discharge?  I would prefer he get it in his name, but how do full time students get private loans when they are full time students - not enough income or credit to qualify?  

I was able to get some relief from payments from Covid but I've been informed that that has run out, at least with my Citizens loan. 

Are there any options I can pursue to at least get my father's credit untangled from this mess? I would love to ideally have discharged the private student loans but unfortunately that doesn't seem possible. Because of the BKE I doubt a refinance would be easy. 

My parents have a home that they are trying to sell and I will receive some of that money-which I would use to try to erase these debts, but also unfortunately the house went on the market right at the beginning of Covid and didn't sell, they will hopefully be able to sell it early next year. 

I would love to hear any and all ideas that could maybe help me find a way through this! Wasn't sure whether I should post this in student loans or BKE but figured I'll start here. 

Thanks for reading. 

- I owe my college over $6000 on a tuition of $9000

- I only attended school for 2 months of the semester I owe tuition for due to unforeseen circumstances 

- my debt has been sent to a collection agency

- I am an international student with no resources to pay all of this debt

- I have offered $3500 but the school denied it

- I need my transcripts from them to transfer

At this point, I tried to contact Navient to reestablish payment plans for these loans, as my local bank was still willing to move forward what the mortgage as long as I could provide documentation reestablishing payments on the student loans.  After many phone calls to Navient, I was referred to Track America, while understanding that they place the loans with a collection agency or legal firm that would negotiate with me.  Initially, they placed one loan with a legal firm with which I was able to establish a payment agreement for one loan.  For the remaining two loans, I made many phone calls to Track America asking them to send the remaining two loans to the same legal firm.  After weeks of phone calls, this did occur.  I thought everything would move forward, but shortly the legal firm said they were not interested in the two additional loans as they were past the statute of limitations in my state of residence, Pennsylvania.  Shortly after that the legal firm discontinued allowing me to make payments on the remaining loan and said that Navient had pulled that loan back.

After dozens of calls to Track America, I learned they had repeatedly tried to place the loans with collection firms and attorneys, but no one wanted the loans past the statute of limitations.  Eventually I was able to establish contact with the escalation department at Navient, but their policy is to place the loans via Track America before I would be able to settle for a lesser amount or reestablish a payment agreement.  The total amount is about 250k.  Navient would be willing to accept payment in full, but any agreement for payments or settlement for less  is completely impossible.  Must be done through a collection agency.  I'm stuck in this loop of insanity and have no idea how to move forward.  How can I reestablish payments with documentation that the bank providing my mortgage finance would accept?  Otherwise how can I get these loans off my credit report?  I'm willing to make monthly payments to the end of getting final approval on this mortgage.  What can I do?  I've been working on this for nearly 6 months. 

They are giving me the options to rehab, settle or consolidate. 
 

I know rehabbing removes the delinquent status after 9 months but I also will still have the original Fed Loan Servicing charge offs showing on my credit. These accounts opened in 2014. 
 

So my question is does rehabbing help my credit score or should I just settle and have it shown as paid collection and be done with it? 
 

Thanks for your help:) 

I have defaulted undergraduate student loans and currently receiving disability. Prior to the pandemic, I was working but not a lot, just to the best of my ability. I had also completed 18/30 credits towards an MBA degree having only paid $800 out of pocket. I want to be able to finish the MBA, but I need to really evaluate the best use of my money because I am also trying to start some businesses... especially since I cannot go back to my previous work right now.

My current loans are:

Loan #       Program       Principal          Interest          Total Balance       Interest Rate       Interest Type

066           Direct           $1,452.67        $538.05         $1,990.72             4.66%                  Fixed

098          FFEL              $2,996.19       $1,006.84       $4,003.03           4.66%                   Fixed

117           FFEL              $3,112.98        $2,101.07        $5,214.05            6.8%                     Fixed

126          FFEL              $2,724.31       $1,838.71        $4,563.02           6.8%                     Fixed

The total is $14,220 in undergraduate student loans, which is $18,596.95 with the collection fees. The loans are serviced through Coast Professional, Inc (West Monroe, LA). I have about $10K to utilize, but I am about petrified of using it the wrong way and being stuck in this debt forever.

I called Coast and was told the following:

1) I cannot pay towards just one of these loans at a time, nor can I pay on just the principal according to the servicer... but I am not sure if that is true. If it is not true, I would not be sure what the appropriate order would be to pay them off.

2) If I refinance the loan into a federal loan from the government (with the idea that Biden may forgive Federal loans), then the amounts due for interest and collections become my new principal balance... so $18,596.95. I do not know what my payments would be though, or if I could afford them.

3) If I use the income-based repayment system then I would pay $5/mo currently. However, the interest continues to accrue and if any of my businesses become successful that means I could end up paying a lot more than $18,596.95, and would likely lose out on the opportunity possible for the debt to be forgiven if the loans had been refinanced as federal.

It seems I always barely miss the requirements for student loan forgiveness. For example, one school I attended was the Art Institute, and the school was shut down with many of the loans discharged. Mine were not discharged though because I completed my degree… which I did by switching schools prior to the closure. Secondly, I have worked for numerous non-profits over the years and volunteered (for drastically underfunded non-profits) at some the way other people work a job, but I cannot get my loans forgiven because I worked for the non-profits prior to finishing the degree and have only volunteered since.

Any thoughts on how to deal with this?

I was attending school and then got a new job. I fell behind in one of my classes, and the professor withdrew me from the class.  I had student loans out for that term, and it appears that the school gave the tuition money back to the lender. They sent me a tuition bill. 

I filed BK and it was discharged in September 2021. I included the school tuition in the BK. The school did not appeal the inclusion. Once the discharge was complete, the school sent me a bill for the tuition stating it was considered a student loan and not dischargeable. In the meantime, I consolidated and refinanced my student loans. 

If the school wanted to dispute their inclusion in the BK, shouldn't they have done that prior to discharge?  They have sent my tuition bill to collections and I want to get it resolved as soon as possible. I wanted to get advice here first, but am considering having a lawyer send them a letter. 

O Mighty CreditBoards, What say you? 

Thanks for your help!

1.  I would like to know if I should reach out to the lender if it is possible to remove the months where I didn't make payments.  

2.  How/What should I do to increase my score due to me restarting the clock on these loans?

Your feedback is appreciated.

Thank you.

I am new to posting on this board, however I have been reading it frequently as I try to improve my credit as best I can. 
 

I feel like I am in an oddly unique situation right now with one of my student loans. Normally, student loans are reported as monthly installment accounts. However a loan I have with a private credit union (graduated in 2017 and started paying in spring of 2018) is showing up as a revolving account? I spoke to a few people who said this is bizarre and not how a student loan should be reported, and because of this I have a 95% utilization ratio from all three credit bureaus because of it which is dinging my score. 
 

I wanted to pick some brains to see why this student loan is reporting as revolving instead of installments? I pay it every month with a due date, and have all of the documentation stating that it is an undergrad student loan

Thanks, and I look forward to hearing some of your thoughts!

From what I understand. A collection agency buys junk bonds/debts for pennies on the dollar to turn a high profit yield of the debtors they convince to repay their debts. The money the loan provider lost is 'written off' and they are happy getting what they could from the collection agency, right? 

So idea #1. Why can't I start my own collection business in pursuit of buying my own defaulted loans so I can take control of the credit reporting myself. Agree to negotiate my debt down for a reasonable 1 time low payment of $1000 for instance. I pay off my debt. Update default status of accounts to paid and get credit back up and erase my own debt? 

Literally. How and why could this not work legally? 

On my high horse I must continue to fix the debt issue not for myself but everyone.  Why could there not be a non profit group perhaps that buys junks bonds for pennies on the dollar and works a deal out with each individual borrower to just cover the pennies they paid for buying their debt and that's it. We call it even. We are a non profit and helping debtors with a fresh start.  If the money is written off at the sale of the bonds portfolio to the collection agency. Why do the people not come together to become the collection agency to rewrite the rules and their own futures. Anyone can start a business. Any could aspire to become a collector right? Why not be a the best, fairest collector of them all? I'd work for free if I was changing that many lives for the better. Lol.. 

Please. Kick me off my pedastal and set me straight as I'm am idiot seeking understanding. I know nothing is that easy, it can't be? 

I am still considering consolidation of my student loans. All of my loans are FFEL loans serviced through Navient. There is increasing talk about some level of student loan forgiveness (10k or 50k), and I worry that my FFEL loans will not qualify for forgiveness. So, I have a series of potentially unanswerable questions:

Does any one know if FFEL loans would qualify for forgiveness?  

In the event of loan forgiveness, can I consolidate to qualify?

Should I just consolidate now to avoid any issues? 

Thank you for your time. Take care.

I am looking into consolidating my student loans (these are loans from the 1990s). Currently on studenaid.gov the interest rate for all loans shows as 0% (but I think the actual interest rates are 3-4%). I was under the impression that consolidating loans would lead to a lower interest rate, but on studentaid.gov it shows the consolidated interest rate as 7% if I choose to consolidate. Seems it would be financially unwise to consolidate if that is the interest rate. Am I missing something? If it matters,  my student loans are serviced by Navient. 

Thank you.

https://www.consumerfinance.gov/about-us/blog/what-you-need-to-know-about-student-loans-and-coronavirus-pandemic/?utm_source=newsletter&utm_medium=email&utm_campaign=wc&utm_term=April12020

Sent from my iPhone using Tapatalk

A few questions:

• Will I need a cosignor?  I don't really have anyone to do it.  I'm married and file jointly, but my wife has horrible credit.  She earns $79K.
• Can I apply for the loan before I retire, using my full time salary?  Or if I apply for it around March or April, are they going to say, "how will you have this salary while going to flight school?"  
• If I am required to use my pension pay instead of my fulltime salary, is $55K enough to be approved for this loan?

Also, we're looking into installing solar at our house.  This would also need to be financed.  We're contemplating doing it now, which would be around $36K.  However, this will decrease our electric bill by approximately $200 a month.  (Last month's bill was over $600.)  Would this solar loan give me a problem in trying to get a student loan?  I'm most likely going to be using Sallie Mae, since that is who ATP works with.