Got copies of my credit report.. and YIKES- several of the things on there are horrible. My student loans (12) are showing up as past due for 90+ days, 3 times. I'm not at all disputing that those are mine.. they totally are.. the problem is that they were reported when my loan was first in deferrment and then in forbearance. I made sure that the loans were deferred on time to avoid this- but their records have a gap from when they were deferred and the time that they went into forbearance. On top of that, they hadn't updated my change of address (though I called- and had reported the change with the po). Its clearly a mistake- and this "little" mistake is really affecting me... its clearly affecting my FICO score. I called Sallie Mae (the issuer) and the woman was really nice, but she said that the dept that handles that will review faxes, or written correspondence. They'll base those decisions on that alone. Any suggestions please!!! Any experience with this.. how can I correct this? What can I do? Feeling helpless and mad as he)) in L.A.- BQ
Stdent Loans are different. They fall under the umbrella of the Federal Governement. I had the exact same thing happen to me. My loans were underwritten by PHEAA. I had multiple tradelines reporting the same thing 120+ days past due, when in fact they were in deferment or forebearence. I had 4 tradelines that were listed in default. I dealt with it like I would deal with anything else. I disputed the tradelines a couple at a time, and said they were in deferrment or never late. (It helps if you have copies of your deferrment and letters showing you were approved.) Most were removed, and what wasn't removed was updated to reflect perfect payment history. My loans were bought and sold so many times, I think the credit bureau just removed outdated lines rather than investigate because I had over 30 tradelines. One thing I learned about student loans is when ever you apply for a deferment or forebearance, if the loan is past due when you apply you will be reported to the cra as late, even if approved for the deferment or forebearence. Most of the lenders will report at 90 days past due. I hope this helps you out.
If you have all the paperwork to your deferment and forbearance, that state the dates covered, you will be fine. Dispute the tradelines as "never late"... if sallie mae has updated your records in their files, the cra will report the updated information. My forbearance was granted in october, but showed up when i disputed in dec. it takes a while for them to correct the info internally and then notifiy the cra's. having the paperwork is good, because you can always send it in if they don't update after your dispute.
Interesting UnionDiva! I have a consolidation loan with Sallie Mae, retroactive forbearance like this thread is discussing about. They report it as 90+ days late. Gave some bureaucratic bull hockey when I sent a letter asking for change in status. So what you are saying is then when the CRAs try verify, the computers at the student loan lenders will show a clean history therefore...90+days late see ya! Dealing with these guys is extremely frustrating. I heard they do respond to the "litigious nutcase" letter very well, when push comes to shove.
