Any advice on diputing student loans. They were in collections for years and now they are consolidated. They have been paid off for about 9 months but they still show as a paid collection account. Any advice, do I just say they are not mine and hope that they are not verified by the CRAs?
That could be tough. That's the problem with consolidation versus rehab, the references to collection and late payment history remain. I am curious how bad they are hurting your score. Is it that much? The bs the cra was talking is that it would be shown as paid and 0 balanced and made it sound like my credit rating would be fine. Have you pulled all the reports to see if they are even on all of them? Problem is you don't have much leverage to get them to change the info now that they're paid. Did any of the correspondence from who did the consolidation refer to what your accounts would say. I had one consolidation letter that said all accounts will be marked "paid account" with the quotation marks, you might have some leverage there to get them changed if so. I'd read over all the correspondence and see if they misrepresented anything to you. If it was a CA that slipped up, you might be able to get it changed. If you dealed directly with the Dept of Ed or an institution it might be more difficult. As far as disputing I'm not totally up to speed yet on proper game plan for that. Also, correct me if I'm wrong anyone, statute of limitations is 7 years for student loan information on your report. Late payments still on the old clock I believe but the "paid collection account" status is restarted and will be there for 7 years (6 yrs 3 mo in your case) Keep me informed, I certainly interested how you make out.
I am also working on student loans. I just got one deleted from my credit report through disputing. I actually requested validation on these accounts because i wanted to see if the date of delinquency and late pays were correct as they showed up on my credit report. I decided to try disputing because the original creditor had been paid and I figured I had nothing to lose. One of them came off on the first try! I still have another though. search the threads on the board for student loans... that helped me a lot. Read the threads on the " higher education act" and that should help too.
