Removing student loans from CR:

Discussion in 'Credit Talk' started by metallicat, Jun 9, 2001.

  1. metallicat

    metallicat Well-Known Member

    How difficult exactly is it to dispute student loan
    items on my CR? I've had pretty-ok results
    from disputing some charge-offs, but I haven't
    bothered with the student loan items yet. Any
  2. Erica

    Erica Well-Known Member

    In my experience, Student Loans will be verified every time. I think this is because they use your SSN as an account number, thus making it easy to verify.

    SSN matches the acct #. Verified.

    I think that you have to dispute directly with the loan holder in order to get it removed. In my case, I started an investigation into a student loan that I had no recollection of ever having. Neither did the Department of Education. The CRA's kept verifying this item, so one day I called the Dept of ED, started an investigation, then immediately called Experian and asked them how they can keep verifying something that the DoE has no idea or record of? It got deleted.

    Does this help?
  3. metallicat

    metallicat Well-Known Member


    Thanks for the response, it was quite helpful. Here's a rundown of my stu-loan items on my report:

    1) PHEAA/Educaid: Paid account/Zero Balance

    and then PHEAA/Educaid: (several lates)

    2) USA Funds, which has 2 listings both of which show
    120 days past due & DEFAULTED LOAN-CLAIM FILED AGAINST GUARANTOR with a 9$ balance (??)

    -This has been paid some time ago.

    3) US DOE which shows "student loan, paid collections"

    Interestingly enough, The DOE account does not use a SS#. I'm curious as to how I have multiple listings for the same account? If I disputed, would that at least remove the duplicates from PHEAA and USA funds? And would the DOA be willing to remove the "paid collections" from my report, I was under the impression that I could rehabilitate the loan and restore my credit rating.

    Thanks a million
  4. Terry

    Terry Well-Known Member

    In 1999, I had 42 tradelines of student loans. I had 4 tradelines in default. I had multiple tradelines of the same information. The reason was because my loans were bought and sold so many times. I went through the PHEAA Rehabilitation Program and true to their word PHEAA removed their defaults. I was stuck with mutlitple tradelines that showed 120+ days past due on other loans.

    I disputed like crazy. I disputed every tradeline with every bureau. I think in the first time in Experian history they removed every tradeline except the open lines, and on those they removed ALL late notations. Equifax did the same thing. Trans Union was a different story. I took me a year to accomplish the same thing with them.

    The end result? I have 5 lines of Positive student loan tradelines with the three cra's. Good luck. What the hell.....dispute them all.
  5. metallicat

    metallicat Well-Known Member

    Thanks for the advice, Terry.

    I don't know if I actually "rehabilitated" my loan, I paid one lump sum to get them off of my back. Any details on this? I would love to get the creditors to fix my report voluntarily, but I somehow don't think they'll be willing to do this...

    Oh and, When you disputed w/ the CBs did you dispute owning the accounts in question? I'm just getting started on this, I don't know if I should dispute accuracy, ownership or just ask them to investigate.
  6. Terry

    Terry Well-Known Member

    You're welcome. I disputed the loans never late. I think what worked in my favor was my loans were bought and sold so much, it was a almost impossible to verifiy all the information. I wish I coudl show you my reports to illustrate what I mean. As I said in my earlier post, I had 42 tradelines of negative student loan information.

    I would think there are several ways to dispute the information. You could ask the furnisher to remove the negative information. I doubt they will do it more than likely they will cite the 7 year sol. Or dispute the information, maybe you will get lucky and they won't respond as they were already paid off. I learned with student loans you have to be a little creative.

    Also just to confuse the CRA's I sent the new loan papers with my disputes and copies of the times I applied for a foreberance <sp>. Also, what they didn't tell me was I could apply for a forebarance but they still reported to the bureaus. Thats what I was stuck with. It took a little doing with TU but they finally removed all of the negative information.

    Good luck, what ever you decide to do.
  7. Erica

    Erica Well-Known Member

    That is exactly what happened to me. I had a loan listed that did not use my SSN as an account number. I called the DOE on it and I won. Try that. See what happens.

    In the end, when I got off the phone with the DOE supervisor, I was faxing them copies of my CR to show just how damaging this erroneous tradeline was. The fax was sent in April, and I haven't heard anything from them since. Other than the account was deleted.

    Good Luck

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