I have done a search regarding student loans and didn't find any scenarios that are similar to mine. I have three loans that never went into default but are showing 30 days 5x, 60 days 4x, and 90 days 12x. I paid them up to day 15 months ago and have been on time ever since. What should be my first step? Should I just try to negotiate with the lender (it's my school) and see if they will remove the bad marks? Any advise would be greatly appreciated.
thanks, I knew there was someone else out there with a sense of humor. Now up to 114 views, and still no one willing to help except uniondiva (she's great).
yes I am great (teehee) <blushing> anyway..... if your forbearance dates cover the same period as the lates you should be okay. Do you have a copy of the letter stating the forbearance period? I would just try disputing with cra's first... maybe the lender has updated his reported and this can clear it up. If that doesn't work, I would send cra' copy of forbearance with request to update to accurate status.... Now if ther forbearance doesn't cover all the lates... it is a different issue.... but it still starts off with a dispute.
You might have an easier time because the lender is the school. You have at least proven your intent to pay the debt by not having given up & defaulted. The bursar's office is used to hearing a lot of sob stories. If they're already aware of your forbearance, negotiate with them to remove the prior paying history, so it will show pays as agreed only. Alternatively, they can remove the most recent late pays, which have a greater negative impact on your score.
I just got my forbearance starting in Sept of 2002, they also sent in lates for Sept - December at the same time they issued the forbearance, nice guys. 2 out of three of my reports show student loan included in 1998 Bankruptcy, however the are still actively collecting funds. I probably just missed qualifying for a true discharge, but if it did not qualify they should not reported that it was included. I am still trying to figure out how to deal with the issues. In the meantime I have lost 50+ points. Bye bye 600 club. I have a friend whose balance due is off by atleast $1,000, she requested her payment history. They sent only the last two years. The loan is from 1991. I think the whole student loan deal is messed up. They never tell college kids unless you pay extra these loans are going to last 15+ years. I have had no success in dealing with any issues related to student loans. I hope other people are doing better with student loan issues.
Okay, first thing is the forbearance. If your forbearance was granted in Sept., they will update your records and take off the lates for that period. You have to give them some time to get in the system. I would check this month (JAN) via phone with lender and see what status is and then dispute with cra's. If it is updated in lender's database then it will be updated when they report. If the information is being reported incorrectly, you should dispute it as incorrect and see if the cra's verify it. Yes, request your paperwork so that you have the accurate info regarding your loans. When the cra's verify it wrong, you have some fcra violations and may consider a lawsuit to get them removed. BTW, I just got my forbearance in October and it was updated in December on my cr's. I consolidated and have already gotten one of the old loans removed.
