Hello, This is my first post although my husband has been coming here for years. He told me to come and post, so I am. I really need advice on this Dept of Ed stuff. I'm a member of credit expert so I saw it pop up about 6 months ago on my Ex. I sent off a dipute and it was deleted. Easy enough. I pulled all 3 reports a month ago and now saw "Dept of Ed" on Eq and Tu so... having such luck with Ex sent off disputes for these as well. Met with a mortgage broker tonight and decided to pull my reports before he sees them and my Eq and Tu scores dropped 40 points each! Dept of Ed is now showing up as "open, installment loan" as opposed to "closed, collection". What do I do?? I've seen a lot of posting about rehabing, but I don't have a year to wait for this to come off. If I pay it in full will that be better or worse. I feel so defeated. My husband and I have spent years cleaning up our credit and preparing for our first home. Now I feel like it will never happen. Please let me if there is anything I can do. Thank you so much.
Have these loans ALWAYS posted on your reports (although maybe stated differently) or did the just pop up out of the blue? - also, what is the date of last delinquency? Thanks, Sal
If it is inaccurate, try to get in touch with the DE Ombudsman. I dealt with a lady over there who was GREAT, solved the problems in very nice form. You should be able to get their number without any problem. Email me if you run into a brick wall or else post here. Donna Wiley is the lady that helped me out. She is in the Washington D.C. office. GL
The loan was origanally a loan from my school that I defaulted on in 98, so that would be the date of last delinquency. It bounced around to a few different CAs and I believe it has been on my credit as different things for awhile. It just showed up as Dept of Ed in 8/03. Here is the posting from TU: US DEPT ED Account No.: **** Type: Student Payment: $1883 Date Opened: 08/01/2003 Balance: $1888 Terms: 036 months Date Reported: 06/01/2004 High Balance: $1800 Limit: Past Due: $1888 Condition: Derogatory Responsibility: Individual Status: Collection/Chargeoff Remarks: Collection Account Placed for collection Two Year Payment History: None Reported And from EQ: US DEPARTMENT OF EDUCATION Account Number: XXXX Rate or Status: 120+ DAYS PAST DUE Account Owner: Individual High Credit: $1,800 Type of Account : Installment Terms or Monthly Payment: $1,854 Date Opened: N/A Balance: $1,881 Date Reported: 05/2004 Past Due: $1,854 Date of Last Activity: 03/1998 Months Reviewed: N/A Thank you for responding!!
The ombudsman's office is part of the Dept. of Ed's Student Loan program...they are "problem solvers" that work with you to wade through all of the bureaucracy and come up with the best solution to your problem...they can be VERY HELPFUL!
