Duplicate Student Loan question

Feb 182011
 

I have been working very hard on getting my credit straightened out. The first thing I did was to start paying on defaulted student loans. They have been out of default and are in good standing for about 6 months now. My problem is, even though they show up on my credit reports as good, the old negative stuff is still there too making it look like I have some good and some bad loans. I have 4 for the Department of Ed and 2 Sallie Mae, so there are 6 good and 6 bad showing on my CR. Is there any trick to getting these bad ones deleted? I have had a credit repair law firm cleaning up my CR with absolute great success except for these items. I am getting ready to dump this law firm now that my file seems to be more manageable, and do it myself. I have enjoyed the convenience of having someone else do my work for me but it is time I take over and I want to be able to get these duplicate loans that show balances and lates off of my CR. How should I proceed?

GATE Student Loan

Feb 012011
 

Hello, I’m new to posting on FICO Forums and I would first like to comment that these boards are a wealth of information and we are all grateful to have them.

 

Getting to my inquiry, I was hoping that someone on this board can shed some light on my predicament. In 2003/2004 I took out two loans through the GATE Program at college. Alas, I was put in a bad financial situation, dropped out of school, and more or less forced myself to forget about the loans. As the story seems to go I find myself now trying to rebuild my credit. My problem is that I have not been able to locate who is servicing this loan. It has been defaulted for quite a while so rehabilitation with the original creditor is not an option. The gaurantor was National Collegiate Trust who referred me to First Marblehead who then referred me to OSI Education Services which coincidently is now owned by the infamous NCO Financial. When I finally get to NCO they cannot find said loans and refer me to the National Loan Locator through the Department of Education. The only problem with this is that the loans are private student loans so they would not show up in a national database as they are not gauranteed by the govt. It seems that my loans have been transferred a mimimum of 3 times with no one knowing precisely where they are. My credit report only shows the initial chargeoff through National Collegiate Trust with no evidence of where it was sent to. I need to start some sort of payment on these loans to appease my “potential” mortgage lenders as I am trying to get approved for a new home loan. Is there anyone out there who has defaulted on GATE student loans and if so have you had the same frustrating experience that I have had.

 

Any help is so greatly appreciated; Thank You in advance.

 

Steve

Graduate School – Go Figure!

Jan 252011
 

so i’ll be graduating in may with my bachelor’s degree, finally.  i wasn’t planning on going to graduate school initially, but i let my department convince me that it was the best thing to do career-wise.  i did my fafsa soon after the new year, trying to get a jump on things.

 

i kept checking my school’s website, trying to see why they were saying they hadn’t received my fafsa yet.  tonight i finally checked the fafsa website, & it said 2 things.  1, i’m not eligible for pell grants anymore because i have a degree.  2, because i had to take out so many student loans as an undergrad, i may not be eligible for any graduate loans.

 

WTH!!!  how do people go to graduate school at more expensive schools?  is everyone taking out enormous private loans???  UGH…sorry for my rant, just frustrated.  i didn’t even want to go; now that i want to go, it’s starting to sound like i won’t be able to.  go figure.

Desperate – Please help!

Dec 072010
 

Hello,

 

I’m hoping someone can help me with this. My husband attended a trade school in the late 80′s, and took out several student loans. He fell behind on the loans, and they went into default. In 2000, he was able to consolidate them under the federal Direct Loans program. I found out a few years later that because he did not have a high school diploma or GED when he attended the trade school, that he qualified to have the loans discharged, for false certification of ability to benefit. He filed for a discharge with the Department of Education, and got a discharge in 2004. We assumed both loans were discharged, but only one was. In January 2010, he filed for discharge again, and got the second loan discharged. We’re trying to get out credit cleaned up so we can (hopefully) buy a house next year. When we pulled my husband’s credit reports, we found that both loans were still showing on all 3 of his credit reports, with a zero balance, but as previously having been in default and collections status.

 

Upon doing some research, I found that the credit bureaus are required to delete both loans from his credit report, as they were discharged. We contacted the Department of Education, and they sent my husband a letter stating that they had already informed the credit bureaus to delete any references to the loans from his credit reports, and that they will inform them again. Despite disputing the loans twice, and sending letters to all three of the credit bureaus with the copy of the letter from the Department of Education, the credit bureaus refuse to delete the loans from his credit reports. What options do we have now? The first loan should have been deleted 6 years ago, and the second one should have been deleted nearly a year ago. I know having those loans on his credit report is hurting his credit score, and I’m afraid that if they aren’t deleted, that we’ll never be able to get our credit cleaned up enough to buy a house.

 

Any advice would be greatly appreciated!

Sprint Reporting 3 Inquiries

Sep 022010
 

Does anyone know how to reach the credit department for Sprint?  I have three inquiries and I am trying to have two of them removed.  When I call the rep is saying they have no one there in his department, (the credit department), that have the authority to remove them.  Supposedly he has checked this out by asking his department head.

He suggested I put in a dispute with the CRA and they will contact the department that can do this.  How is it the CRA know who to contact and they dont?   I have 5 inquiries on my reports and I want two of them gone.  

 

Thanks for any help you guys are willing to give.   

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Odd Letter From Cap1

Jun 072010
 

Here is my situation.  Last summer, I thought my soon-to-be ex-husband was paying the Cap1 card.  After all, he was withholding $ from the child support payment for this purpose.  Unfortunately, I learned that it was 120 days late and had been sent to charge-off status.  I paid the balance ($1100 on a $500 limit) in full, and did not negotiate a settlement amount.  I have been sending multiple goodwill letters to every address I can find for Cap1, explaining my situation and asking for a deletion of the tradeline.  Today, I received a letter in the mail.  The first page said:

 

“Thanks for contacting us about your credit bureau report.  We send information on the status of your account to the credit reporting agencies once a month.  The agencies keep accounts on your credit report for approximately 7 years. 

 

On the next page, there is a computer screen printout which looks like this:

 

Original Document ID                        xxxxxxxxxxxx

Account Number                                 xxxxxxxxxx

Destination Major Doc Type             CS

Destination Minor Doc Type             GCORR

Destination Department                   CS General Correspondence

Original Major Doc Type                    CS

Original Department                          CHRDDISP

Request Type                                      ReROUTE

Request Notes                                    *Dcorr* recd open Doc CH wants to know about finance chrgs and there in no chargs found on Acct so rtd to Gcorr so  take            necessary action.

User Name                                          xxx123

Route Date                                          05/11/2010

 

The third page consists of a photocopy of my letter.

 

Any ideas what this means?  Is it just another “too bad, so sad” letter?

 

Thanks!!

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