There ARE good people working in collections

Mar 072011
 

Just a quick note to share the positive experience I had today.

 

I had a small University loan ($1,000) that was showing up on my credit report as a collection. I knew that it had been consolidated with my other student loans (federal student loans) two years PRIOR to the date they were showing it was sent to collections. I have tried repeatedly to get this taken care of, to no avail.

 

I recently stumbled across the National Student Loan Data System online (http://www.nslds.ed.gov/nslds_SA/) and my report page on this University loan showed clearly when it had been consolidated, etc. It showed every tiny little thing about that loan.

 

So I sent that report to the University collections office and let them know it was showing up as a collection on two of my credit reports, even though it was rolled into my other loans two years prior to their claim that they had to send it to collections.

 

I was very happy to get a FAST response back from them, saying: “What I will do is delete this loan (PER24A) from your credit report.  The first delinquency was more than 7 years ago therefore should not be on your credit report anyway.  All credit reporting agencies will be notified via Automated Universal Data form. I will send you a verification form stating that the deletion has been requested.  Would you like this verification by email or snail mail?”

 

This really made my day. She was efficient, respectful and knowlegeable. I wish every lender/CA was this good to deal with.

 

[Edited to add: The form says that all FOUR CRAs will be notified, including Innovis. I've never even heard of them.]

Have you rehabilitated your loans, but your credit report still shows a negative status?

Mar 042011
 

That’s what happened to me, as I’ve mentioned in several threads here in the forums.

 

I am working on getting a home equity loan, and my student loan defaults are the only thing holding it up. I needed to show the lender some sort of proof that they were no longer in default, but the DoE and the Loan Guarranty folks say that due to red tape and approvals, that could take weeks.

 

I may have found a solution, and want to share it with you. If you visit the webiste for the National Student Loan Data System www.nslds.ed.gov and look at the report page for your OLD rehabilitated loans, it says there plain as can be: Not in default or “non-defaulted”.

 

I just printed these as PDF files and sent to my banker, and she will send on to the lender. We’ll see if it makes a difference.

 

I’m also wondering if these would be helpful in disputing the info/status showing in credit reports.

High Gas Prices Hurting Consumer Sentiment

Feb 092011
 

We all know who got blamed last time………who should we blame this time?  I hope this doesn’t derail the recovery and send us into a double dip…..which may be good when you are talking about ice cream….but not whne you are discussing the economy.  High gas prices could also really put a dent in the sales of those big SUV’s.

 

 

ABC News Consumer Comfort Index
A weekly update of consumer sentiment, with public ratings of the national economy, personal finances and the buying climate
 
Rising Gas Prices Slam Consumer Sentiment

02/08/2011 4:45 PM

http://blogs.abcnews.com/consumer_confidence/2011/02/rising-gas-prices-slam-consumer-sentiment.html

 

Soaring gasoline prices slammed consumer sentiment into reverse this week, threatening the slow recovery in economic views that’s been under way.

With gas now at record high for a February in Energy Department data back to 1990, the weekly Consumer Comfort Index dropped by an unusually steep 5 points to -46 on its scale of -100 to +100. It’s dropped that far only 36 times in more than 1,300 weeks of ongoing polling since late 1985; this shift erases an equally unusual 5-point gain in early January.

It’s likely no coincidence that the change in sentiment follows the federal government’s report yesterday that gas has jumped to an average $3.13 a gallon, up steadily from $2.74 six months ago, $2.65 a year ago and $1.89 two years ago this month. 

The portent is not a good one. Gas prices tend to drop in winter, when demand is down, and rise in summer, when more Americans hit the road. Gas last approached this wintertime level in February 2008 – on its way to a record high of $4.11 the following July.

 

The index, produced by Langer Research Associates, is based on Americans’ ratings of their personal finances, the buying climate and the national economy. Positive ratings of the buying climate and the economy took 3-point hits this week; 43 percent rate their finances positively and 25 percent call it a good time to buy, compared with long-term averages of 56 and 37 percent, respectively. Just 13 percent rate the national economy positively, 24 points below its average.

After reaching -40 Jan. 9, the CCI is now at its low for the year, and its lowest since Nov. 21. It averaged -46 in 2010 and -48 in 2009; those compare with a lifetime average of -14 and a best-year +29 in 2000. Its single best week was +38 in January 2000; its worst, -54 in December 2008 and again in January 2009.

Among groups, the index dropped most sharply this week among singles, young adults – and among the wealthiest Americans, sliding into the negative zone in this customarily more positive group. They may be regretting those gas-guzzling SUVs.

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

I need to find a company to help me with national deliveries?

Jan 022011
 
savannah michigan minnesota
bydbking

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National Fitness… AARRRGGHHH!!!!

Dec 012010
 

I’m very VERY close to a clean record.  My last baddie on EF (shows 559 FAKO) with a collection from National Fitness.  This is an old gym membership that I paid in full to THEM.  This is the billing department for many local gyms in different cities.  They didn’t send my account to collections, just contacted me after quite a while (I couldn’t pay at the time).  I’ve called them 4 times all on different days and all with another person.  They have told me over and over that they NEVER delete tradelines.  I told them a very valid reason (I was going through some hard personal times that are all better now) but even this didn’t get me anywhere.  I asked to speak to a supervisor but wasn’t helped with that either.  This comany is EVIL and the customer service is laughable. 

Has anyone had any luck with deleting a tradeline with National Fitness??  If so, what number/address/email did you use?

 

PLEASE HELP!!!

 

Thanks Guys!!!!

National Credit System Settlement Question

Oct 262010
 

I am down to two derog’s one for a $44 medical that is pending PFD and National Credit Systems which is for $1300 (10/09) on an old apartment that I skipped out on….long story but about $700 of it is legit.

 

My question is given the age of this is there any chance of them accepting a settlement for delete? How much should I propose to settle?  I had a 5 year old bank collection that I was able to settle for 25% once but I have no idea what to shoot for with a debt like this and age.

 

Does anyone have experience with this CA?  Much help is appreciated thank you so much!

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