PHEAA re-aged a student loan after it defaulted. They took over the loan and used the default date (3/2001) as the Date Opened. I've notified all three CRAs of this and they all said that it is not allowed but continue to verify as accurate. Is this grounds for a suit? It seems like a slam dunk to me but I am looking for some feedback.
I don't have to send them old reports. The original accts are also listed on the reports with the correct open dates (and DOLA dates). Here's the deal.... I got the loans from PHEAA (Student Loan Servicing Center department) in 9/1992. They charged off in 6/1996 but I continued to make payments off and on for several years (never becoming current). PHEAA (Default Collections department) picked them up when they finally defaulted in 3/2001 and used this date as both the open date and the DOLA and listed it as a new account. So, the original loans are being reported by the original lender as charged off ($0 balance) with the correct 9/1992 open date and 6/1996 DOLA. However, the Default Collections dept is also reporting the same loans with open dates of 3/2001 and DOLA of 3/2001. They claim this is because the default is considered the last activity on the accounts. This just doesn't sound right to me and I am thinking about filing on all 3 CRA and PHEAA because I have notified them all that this is illegal and they have all balked at me.
I'm drafting a complaint letter against Equifax similar to LizardKing's Sears lawsuit. Once complete, do I file it and offer settlement or do I send a copy of it (unfiled) along with settlement letter to Equifax and only file if they don't agree to settlement?
