If the balance of a ten-year-old Stafford student loan seems incorrect or the loan was mishandled where would you start? (belongs to a good friend) The loan is from 4/25/91 . In November of 1991, it became part of a Chapter 13 filing. The interest was limited by the Judge (to $550). The Chapter 13 was converted in July of 1996 to a Chap 7 using the 1991 date of 11/01/1991. The loan was possibly forgiven due to disability in late 1996, Documentation was sent Doctor's note ect. No supporting documentation remains. (Dr. retired). The loan resurfaced in May of 1999 at $3079 org. was $1,827 (kills credit ratios). ___________________________ Requested a history from Unipac now Nelnet Documentation from servicing agency: Enclosed is a copy of your payment history, which reflects all account activity Unipac has processed to date. (Nothing prior to 5/29/99) LOAN ADD 05/29/99 $3079.57 Payment 7/12/99 $50 new balance $3060.27 Payment 8/19/99 $100 new balance $2985.33 Forbearance 08/02/2000 add $227.82 interest now at $3,213.15 Forbearance 08/02/01 add 287.30 interest now at $3,500.45 Interest rate now at 6.94% When forbearance ends 9/02, it will be at $3,661.39 or higher. ___________________________ A new Forbearance was issued on 9/01 for 1 year. NSLDS (as of 9/3/01) shows: Disbursement on 4/25/1991 Status(es) Forbearance 08/02/2000 Forbearance 09/02/1999 In repayment 05/10/1999 Bankruptcy claim active 04/17/1992 ________________________________ I believe my friend would still qualify for forgiveness, she is more interested in verify balance, and correcting history. Nelnet only shows a total of $150 in total repayments(since 5/99) earlier payments ?? No documentation available. On 10/08/96, Chap 13 was converted to Chap7. The 1991 date was used for reporting purposes. (11/01/1991) Student loan at that time listed as unsecured for $1863.42 and the interest was listed as priority at $550. I believe that would have put the balance $2363.40 on 10/08/1996. My friends address never changed, she did not receive any mailings between 1992 and 1999. Concerns: Servicing agency will not correct lates now showing: Many during the delayed forbearance period. Little if no contact, no supporting documentation for balances. Credit History ___________ Transunion 12/04/2001 in prior 29 months from update 8 times 90 days late / 3 times 60 days late Max delinquency 90+ days 01/2001 (dispute resolved -cust disagrees) _____________________ Experian Open was past 180 days. Deferred payment date unknown. Opened 2/1991 Reporting since 07/1999 Org Amount $1,950 Recent balance 12/2001 $3,500 (verified 12/2001)** Item disputed by consumer _________________________________ Equifax 60 days past due 02 90+ past due 07 opened 02/1991 As of 07/2001 Disputed (Creditor verifies balance is being reported correctly Status is correct and payment history is correct) _____________________________________ This has left her with scores of 550 or lower despite having 18 other positive accounts. Some over 4 years old. Would you dispute directly with the Servicing agency, guarantor or who? I think I am out of my league on this one. 9/02 will make the loan 40 months old by their bogus records. 2 payment were sent for a totaling 3 payments due, and 36 months of Forbearance was issued. Were do they tally all of the lates from?? Any help is greatly appreciated.
