Paid in full credit memo that

Discussion in 'Credit Talk' started by Steve Ande, Jul 30, 2000.

  1. Steve Ande

    Steve Ande Guest

    This should blow your mind. I've had a long-time dispute over paid student loans being reported as past due. The crux of my dispute is that I received 2 letters from the guarantor of the loans stating my loans were paid in full. However, I have since learned from someone who used to work in the business office at my old university in Seattle, the the Dept of Education allegedly produced a form letter that they could use to give to students stating thier loans were paid in full when collection fees were still owed. So, in the business office's mind, paid in full only referred to principle balance and not collection fees. Of course, the student was never told collection fees were still owed. Those fees could be collected later via IRS tax offset, collection agency, garnishment, etc. So, the credit reporting would show up with a past due status still being reported. Can you believe that? That is outright deception and outrageous. Can anyone else confirm knowledge of this?

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