Okay, after perusing the board, I've been looking at my wife's credit report at credit expert. We've had problems in the past making payments for one of her student loans, which is about $200/month. The account got to 120-days late several times. In looking at the report, our $200 payment actually represents 5 seperate accounts, so all 5 are tagged as 120-day late payments. The payment is consolidated, but appearantly each "loan" is reported seperately. I'm wondering how damaging this is, and if there is something I can dispute that would be beneficial?
ihcfan Each dispersement of a student loan is actually a seperate loan. Based on what you wrote, your wife currently has 5 seperate loans. So, she has 5 seperate accounts that are now showing 120 days late. That is extremely damaging to her credit. Depending on who the servicer is, you may be able to request an administrative forebearance and possibly (though very doubtful) get the lates removed through a goodwill request. It does sound as if the information is accurate though. Over time, it will cause less trouble and damage to her scores, but now will be a major hit. Email me off-board and I can give you a couple of additional suggestions. fla-tan
I've finally found an upside to this. Because they are student loans, they are subject to the rehabilitation provision. Which means, in a year (actually 9 months now), my wife can have perfect trade-lines on 5 accounts (woopiee!!!)
Here is another goody. OC hits you with a late pay on your reports because the second check you sent them was after the monthly due date. ================== I tell you folks these guys have got a million of them. ~~~~~~~~~~~~~~~~~~~~~~~~~ Or how about this one the creditor held the payment and didn't credit it because the check amount did not match the payment due.Naturally they Reported you as late to the CRAs !!
