My student loan is as an installment with Equifax which is in deferrment but is being reported as active. If I dispute this with Equifax, this will take it off my report (tentatively) till Equifax finishes their investigation that it is deferred. The question is: Will my score drop or go up because of the above (student loan will drop till investigation is complete)? Thanks, Raj
If you take it out of the equation, it will reduce your total amount owed, which would tend to make your scores go up, but it might also reduce the average age of your accounts, which would make your scores go down. So the answer is, it depends. How many other tradelines do you have? How old are they? How much total debt do you have? Ultimately, we don't have the FICO equation, so there is no way to give an exact answer to your question, but those are the things I can think of that would affect your score.
This student loan is the oldest record I have on my credit report from 1992, which I would like to dispute because it is now showing as active which should really read "deferred." Look forward to any help that anyone can be provid. I am applying for a home mortgage, so I can't afford for my score to go very far down, if that. Please advise. To give you an idea, I have listed the kinds of accounts, below: BANK OF AMERICA Date Opened: 08/2002 Status: Open/Never late. BANK OF AMERICA MORTGAGE Date Opened: 06/2001 Status: Open/Never late. CAPITAL ONE BANK Date Opened: 11/1998 Status: Paid/Never late. CITIBANK MASTERCHARGE Date Opened: 12/1998 Status: Open/Never late. CITIBANK MASTERCHARGE Date Opened: 10/2001 Status: Open/Never late. CONSECOFIN Date Opened: 07/2001 Status: Closed/Never late. GENERAL MOTORS ACCP CORP Date Opened: 08/1996 Status: Open/Never late. GLHEC/CITIBANK N A Date Opened: 03/1992 Status: Open/Never late. HOUSEHOLD RETAIL SVCS Date Opened: 08/2001 Status: Paid/Never late. HHLD BANK Date Opened: 05/1999 Status: Open/Never late. HOME AMERICAN MORTGAGE Opened: 06/2001 Status: Transferred/Never late. MBGA Date Opened: 06/2001 Status: Paid/Never late. KEYBANK USA Date Opened: 08/1999 Status: Paid/Never late. MACYS WEST/FDSB Date Opened: 08/1996 Status: Open/Never late. MBNA AMERICA BANK NA Date Opened: 09/1999 Status: Open/Never late. NELNET LOAN SERVICES Date Opened: 01/2000 Status: Open/Never late. Deferred, payments begin 1-2005. NELNET LOAN SERVICES Date Opened: 01/2000 Status: Open/Never late. Deferred, payments begin 1-2005. PIER 1 IMPORTS Date Opened: 02/2000 Status: Open/Never late. PROVIDIAN FINANCIAL Date Opened: 10/1998 Status: Closed/Never late. ROBINSONS Date Opened: 02/2000 Status: Closed/Never late. SALLIE MAE 3RD PTY LSCF Date Opened: 02/2001 Status: Paid/Never late. SEARS Date Opened: 07/1996 Status: Open/Never late. UNION BANK Date Opened: 07/2000 Status: Open/Never late. WELLS FARGO EDUCATIONAL Date Opened: 11/1998 Status: Paid. WELLS FARGO EDUCATIONAL Date Opened: 11/1998 Status: Open/Never late. Deferred, payment date unknown WELLS FARGO EDUCATIONAL Date Opened: 11/1998 Status: Open/Never late. Deferred, payment date unknown WELLS FARGO EDUCATIONAL Date Opened: 11/1998 Status: Paid. WELLS FARGO HOME MORTGAG Date Opened: 05/1999 Status: Paid/Never late.
