Help! New to Process

Discussion in 'Credit Talk' started by TB, Feb 7, 2001.

  1. TB

    TB Guest

    Hi, First of all, I just wanted to say thanks to everybody on this board. I've learned so much just reading everybody's posts. I'm new to this whole thing, so I have a few questions.

    Here's my situation. I have a judgment on my credit reports that should go off the reports in 03/02. It's not listed as satisfied, but I did pay the whole thing a few years ago. Do you think it's worth it to try to get it cleared before it goes off next year? Is there any downside to trying to get it removed?

    Next, I have some Sallie Mae student loans that show up as past due by 90 days. This is accurate(I was stupid), but Sallie Mae changed them to forbearance when I started to pay again. Is there any way to get these off? Can I just ask Sallie Mae to show them as being in Forbearance and not late? Or should I just dispute this with the Credit agengies.

    Thanks everybody in advance!
  2. Alwilda Sm

    Alwilda Sm Guest

    I have no experience with the student loans, but I would definately dispute the judgements. Absolutely nothing to lose there because the 7-year clock is from the date of judgement, not the date of payment.

    -Alwilda Smith
  3. Marie

    Marie Well-Known Member

    Dispute w/CRAs

    Wow, we sound related! On the J, dispute with the credit reporting agencies directly. I had one only a year old (and I'd checked to see if the court really still had the files... and they did) but the CRAs (credit reporting agencies) have to Verify with the courts. Most court employees are already overworked and underpaid and they really couldn't care about credit reports when they're trying to keep up w/current court cases... so try it. There is Absolutely NO downside to ever disputing something. Worst case, it stays w/a note on the trade line that lets you know it was verified (and when). If they don't verify the whole thing comes off Entirely. Nice, eh :) Send a letter certified, return receipt requested (it gives you proof they got your letter and it starts the 30 day clock for your dispute)... then wait for a response. I would dispute the J first! (and maybe even just the J during the first round of disputes) Anyone else pipe in if they have an opinion! Send letters to each of the Big 3, of course.

    Ok, unfortunately I have a Very similar issue w/Sallie Mae. I had 4 baby student loans for my MBA w/Sallie Mae that I consolidated w/my other loans with Direct Loans. I had made some pmts on Sallie Mae and then I went into a deferment. The consolidation took WAY longer than it should've (they lost the promissory note, or didn't get it... who knows). By the time I found out I sent another one but my Sallie Maes were late. I called and the guy made it sound like, as long as a sent an emergency forbearance sometime before the consolidation actually took place, my loans would be fine (showing No payments due, therefore no payments late).
    He did NOT tell me that if the pmts went 90+ that my credit reports would be affected (mine actually hit 122 days when the forbearance was received (and it was about another 2 months before the consolidation took place). So I have 4 (yes four) trade lines w/120+ neg and I have tried every sneaky thing I've known. I disputed w/CRAs and they say "verified" but I can't get proof. I've begged w/Sallie Mae. I've tried to find technical problems that would give them the ability to delete the lates from my file. I even had a supervisor who'd done a similar thing w/her student loans...and I truly believe that she was looking for a way to let me off the hook. DIDn't happen.
    Lesson here: Sallie Mae will prob. verify but after you dispute the Judgement, try it with either not late or not mine. Make them prove it. You might catch a lazy clerk at Sallie Mae.. but understand they are notorious for answering.
    I'm still looking for a technical loophole (making Sallie Mae verify I actually had the debt). I'll post if it works... but I'm guessing it'll be at least 60-90 days before I find out if this works. Good luck! :) The judgement is MUch worse than the old student loans, so if you get that off you've actually really helped your situation greatly!
  4. TB

    TB Guest

    RE: Dispute w/CRAs

    Wow, we do sound related. Thanks a lot for the info. Just talking about it makes it seem much better.
  5. Marie

    Marie Well-Known Member

    RE: Dispute w/CRAs

    I must admit... I could start a website :) I'm actually going to talk w/an attorney (he WAS my nemesis w/Wachovia... now he's become a friend b/c he couldn't believe I'd caught them on violations and actually forced some removals (easy though, they pursued me post BK7 discharge...dumb) so I got the whole tradeline off for not suing them. Cool! Now I'm messing w/SallieMae on my own... then I'll hire him if my stuff doesn't work... and if any of it works, of course I'll post it. I will promise you this, a few older derogatory pays are MUCH better than anything in the public records section. That seems to be the Worst (I've seen a company list them all together... "Bk, public record, or serious delinquency". Interesting. And after 2-3 years from the last date of the SallieMae delinquency it doesn't hurt that much!
  6. Kelly

    Kelly Well-Known Member


    Sallie Mae. I have a paid loan with them and a 90 day late notation on two of my reports. I could not get that deleted and it makes no sense. I graduated in June of 98. The late notation states 90 days late oct 98, or Nov 98 depending on which report you look at.

    When you graduate you are supposed to have 180 days until repayment begins. I actually started earlier.

    They will not budge. If it's not deleted within 6 months. I'm going to the ombudsman for student loans. Cuz this is not right!


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