I just received my investigation results for Experian. I got 7 deletions. Happy happy joy joy. However, I had a few that stayed on that really stumped me. My original student loan taken out in 1993 has been reaged to stay on until 2005? WTF! Isn't the reporting time period supposed to be 7 years from the first late payment or until paid? This was paid back in 1999. I began getting late notices back in 1995 and 1996. I think that I still have these papers. These people are vindictive and malicious. I know this from talking to them on the phone. Also, one creditor who was quite *issy, illegally reaged my account again! Although this is an original creditor, isn't this creditor supposed to notify the CRA's that I disputed this debt? They never did! They have also reaged this debt and verified it while in dispute from me. *issy *issy *issy little witch! Also, Asset Acceptance Corporation has verified my old Gantos card. They have stood by their illegal reaging of the debt, and altered the balance, even if it is only by $30 dollars. This debt is past the SOL. Why do they hang on? Pathetic bottom feeders. My old utility bill CA verified too. They never did validate though. They also never notified the CRA's that I disputed this debt. ha ha. (i hope) The Capital One CA deleted! Woo hoo! I am quite happy with these results. And I have enough leverage against most of those who verified to send them letters outlining their violations. I hope this will get me deletion. Going to have to wait a week or so. Behind in school work ya know. WEEEEEEEEEEEEEEE!
Do you mean an unpaid student loan can only stay on 7 years from date of last payment???? I hope I hope I hope......
From the bottom of the FCRA page: 1. The reporting periods have been lengthened for certain adverse information pertaining to U.S. Government insured or guaranteed student loans, or pertaining to national direct student loans. See sections 430A(f) and 463(c)(3) of the Higher Education Act of 1965, 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3), respectively. Gib
Have you tried verifing that $30 listing with Asset? They are pathetic when it comes to validation and it sounds to me like it shouldn't even be on your CR. Do a search for Michael Beach. That one should come off easily.
I don't think the balance is $30, I think they changed the balance owing by $30. If it is less than $50, at least 1 of the cra's (TU I think) has a policy of not reporting ca accts less than $50.
I don't know what kind of score changes I've received because at this point I don't subscribe to Credit Watch or Credit Expert. Experian doesn't send a new credit score, just the changes on the credit reports.
You are right that the balance is changed by $30 dollar. I am sending out a validation letter today. Can't wait to see if they validate.
The way I understand it is that the 1997 Higher Education Act changed the reporting time to indefinately or until it is paid. So if I took out a student loan in January of 1993 and dropped below full time in July of 1993. So my first late payment would be September of 1993. Even though the 7 year reporting time would be up in October of 2000, It would further depend on whether this item is paid or not. It was paid in 2000. Therefore it meets both the 7 year reporting period and the paid requirement. They did not take this off of my report. Am I babbling or does this make sense. Anyone....
I understand the reporting period to be 7 years after the account has been paid, similar to paying off a collection agency. The better way is the rehab the loan. Currently, rehabbing requires voluntary monthly payments [ or 15 payments in excess of court-ordered payments ]. In exchange, they claim they will delete derogatory info [ + judgments!!! ] and assist you in rolling the balance into a new, conventional loan. Amazingly, paying the whole debt at once doesn't get one the same benefits. Presently, there is a proposed ammendment to the Higher Education Act of 1965 to confer similar benefits on persons who pay the entire debt at one time.
