Hi there, Here is the situation. Last year, June 2003 I pulled a copy of my credit report which showed my Sallie Mae student loans 90 days late 4 times. I contacted Sallie Mae. Applied for a forbearance which was approved and backdated to October 2002. (keep in mind forbearance is a temporary postponement of payments). My credit report was corrected to reflect this (all late payments were removed). Today I apply for a mortgage only to learn Sallie Mae is reporting 4 - 90day lates on my credit report. Sallie Mae is now stating they are reporting correctly as I did not apply for the forebearance until 6/2003 and the payments were indeed late in 1/2003 - 5/20003. My position is since the forebearance was backdated to 10/2002 how then can I be reported as being late in 1/2003 - 5/2003? Where do I start with this battle, as the supervisor feels very strongly about her position. BTW I have four accounts with them. Thanks
How many times between June 2003 and now did you pull your CR's and check check this? If the negative informatation was changed, the CRA's were supposed to notify you within 5 days of the negative information's reinsertion
pd: That is only if the consumer personally disputed the information through the CRA's, and not if the data furnisher provides the update under 623(a).
I am well aware of Sallie Mae, having more than 10 student loans with them over the past decade. Did you document who you spoke to there, about them NOT reporting the derogs and the dates you spoke to that person (or those people?) If you cannot atleast give a name+date, then Sallie Mae's position is valid and if you dispute they may validate. A CN expert could offer good advice here. Most important thing in life? Always remember who you spoke to & when. Atleast you know who's responsible if something goes wrong.
I found my student loan file and I did keep notes regarding who I spoke with. Additionally, I have a 2 credit reports one as recently as Feb. 2004 which shows the tradelines as current with no lates. Regarding the credit bureaus, I did not receive anything from them regarding reinserting the negative tradeline. Also, I never disputed directly with the bureaus. I also have the letter authorizing the forebearance. The letter is dated June 3003 and states the dates authorized are from 10.2002 - 7.2003. The letter states I am not obligated to make payments during the above dates. So, if I am not obligated to make payments, then how can they report during this period? Any suggestions on how to approach Sallie Mae would be appreciated.
