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Old Student Loan

Discussion in 'Credit Talk' started by kbanger, Jul 30, 2002.

  1. Jul 30, 2002 #1
    kbanger

    kbanger Well-Known Member

    I have a SL that Sallie Mae sold 3/97, I would like it deleted any suggestions on what to do? I have already disputed with Eqfx, they gave me the verified view, I thought having Sallie Mae validate since they sold it they probably do not have the paperwork anymore. What do you guys and gals think.
     
  3. Jul 30, 2002 #2
    scout

    scout Well-Known Member

    Are you sure Sallie Mae sold it? They will sometimes "sell" it to other branches of Sallie Mae, so they may still have it.

    Also, what kind of SL was it? A federally guaranteed one? Student loans, of the federally guaranteed type, won't go away.

    To answer your question though, since Sallie Mae is the OC, and may have sold the loan, I don't think a traditional validation is in order. Find out if Sallie Mae really sold it or not before you go further.
     
  4. Jul 30, 2002 #3
    kittiekat3

    kittiekat3 Well-Known Member

    Do you live in NY? Are these also listed as charge-offs?

    I only ask because I was able to get my 8 student loans off all reports recently using the outdated as per the "NY 5 year rule (law)". My charge-off/sold/transferred date was 11/97.

    I believe though that they have to be listed as R9's and/or charged-off. (Mine also said sold or transferred).
     
  5. Jul 30, 2002 #4
    kbanger

    kbanger Well-Known Member

    Sallie Mae said they sold it, it is reporting on Eqfx as an I9, it is now held by AMS Servicing Group, It was a federal student loan, I have tons of them, I want to get rid off any advice would be appreciated
     
  6. Jul 30, 2002 #5
    ef

    ef Well-Known Member

    ******************************************
    I only ask because I was able to get my 8 student loans off all reports recently using the outdated as per the "NY 5 year rule (law)". My charge-off/sold/transferred date was 11/97.

    I believe though that they have to be listed as R9's and/or charged-off. (Mine also said sold or transferred).

    *********************
    700 CLUB FINALLY!!!
    TU=759 +185 :) since 4/02 (521 - 8/00) TU FICO=690 (no points off for their hard INQ)
    EQU=714 +78 since 4/02 (551 - 8/00)
    EXP=725 +77 since 4/02 (532 - 8/00)
    *********************
    "Don't accept NO from someone who doesn't have the authority to say YES"
    ******************************************

    KittyCat3 --
    Can you explain the NY 5 year rule? I have S/L tradelines from Chase that were "transferred" to SallieMae in '97 - some with 120+ day lates. Have since been consolidated & paid off (if only I'd known about rehab'ing loans at the time!!!).

    Thanks for any input you can provide.
     

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