Student loan late payments - deferred loans

Discussion in 'Credit Talk' started by jonwiz, Jun 29, 2015.

  1. jonwiz

    jonwiz New Member

    I have 4 loans with Edfinancial. They are reporting a 90 day late payment in August 2012 and a 120 day late payment in September 2012. I was unemployed in May 2012. I didn't apply for unemployment deferment until October 2012. Edfinancial tells me they cannot remove the late payments because they were actually late - even though my deferment started in May, retroactively. Is there anything else I can do to attempt to remove these late payments from my credit report? I have disputed them several times and spoken with Edfinancial several times.
     
  2. Bbiendayer

    Bbiendayer Member

    In such a situation you can only request them to remove the late payment remarks from your credit report. Just pay the interests and converse with them politely.
     
  3. Anirse

    Anirse New Member

    I need to apply for unemployment student loan deferment I have subsidized student loan how do I do that? Sorry I know this is your form for your question but I just thought I would ask
     
  4. jam237

    jam237 Well-Known Member

    In sample letters look up goodwill letters, if they don't do goodwill you may have no luck. Are they currently in default or just previously? Past lates shouldn't do too much harm for the application, if they do deny, ask for an appeal.
     
  5. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I agree with jam that if a goodwill letter doesn't work, then you're probably just out of luck unfortunately. I'm curious, did you ever try sending a goodwill letter? And if so, what was the response from Edfinancial?
     
  6. jam237

    jam237 Well-Known Member

    Although, thinking back on this now... :)

    Ideally, they would think that the retroactive status would be the CORRECT HISTORY. Yes, it wasn't the correct history then, but it is the correct history, NOW. This is where it could get tricky, if you would want to sue for inaccurate reporting. They are required to make sure that their reporting is both accurate at the time of initial reporting, but also CONTINUALLY accurate, so when the status changed, they were required to update their reporting to the CRAs to be accurate.

    Thankfully, it's with NOT with the DoEd; which means that if you would want to attack the lion, the party you would be suing wouldn't have a claim of sovereign immunity.
     
  7. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    So jam, are you saying that because the deferment was applied retroactively to May 2012, Edfinancial would be required to delete all the late pays from his credit reports even though he was really late at the time?
     
  8. jam237

    jam237 Well-Known Member

    I would argue that the 100% complete, accurate, and verifiable reporting would be the retroactive status, because that was made to be the current status.
     
  9. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Gotcha, totally makes sense to me too.

    Oh, and Happy Easter!
     

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