Help! Recently, I paid my student loan in FULL on 4/16/2003. I was told that I could not REHAB because my defaulted SL amount due was too low. The CA did not offer REHAB for accounts with balances under $2200. The CA is New York State Higher Educational Services and the OC is Chase Manhattan bank before being sold/transferred/whatever to Sallie Mae. All Sallie Mae tradelines were deleted a year ago. TU have them, but there are suppressed. On 5/15/2003, I pulled my CRs online. I notice that TU and EF had the incorrect balance listed, so I disputed by claiming incorrect balance. XP listed zero balance so I disputed by claiming account not mine. After some review of this wonderful, informative site, I think I made a mistake by disputing that the balance was incorrect. I guess the TU and EF will not believe the account is not mine since I claimed that the balance is incorrect. On 5/20/2003, I pulled my CRs again and EF deleted the SL tradeline. FICO score on EF went up from 549 to 636 (my goal is to reach a minimum of 620). I am planning to pull my CRs again on 6/1/2003. To my dismay, I can across this site for the first time today. So I am newbie. 1) Should I send a request for Validation? If so, should I wait for the disputes to complete their 30 cycle, or send the validation request now? And whom should I send the validation requests to? The dispute was for the CA. 2) Does anyone have experience getting SL PAID/COLLECTION tradeline off their CRs? I am asking those who did not REHAB their SL. 3) Is there a law stating that I could not REHAB my SL because of low balance? If there is a law stating that I could not REHAB my SL because of low outstanding balance, I will litigate for damages to my civil rights. The SL thing looks like the only major obstacle on my CRs. Thanks to this site I could be over 700 on all CRs in a year. I am keeping hope alive. I do believe that the SL issue on my CRs will be deleted, but how? Thanks in Advance, hreid3
Hreid3, You were lied to big time from that collection agency (wow what a surprise eh?) The HEA states you can rehab ANY loan over $500. -Sal
If you can come up some proof the collection agency made that statement? If you somehow have something in writing, then I dont see why you couldn't sue the CA for making false and misleading statements. Also, I believe the servicer of the loan should be held liable because it's THE LAW, they MUST allow you to rehab (its your right as long as the loan is over $500) Now that I'm thinking about this, I think you should contact the SERVICER first, and explain to them what happened. They might just delete the tradelines if they feel you would get them in trouble with the Dept. of education. Bottom line - BE AN AHOLE, DON'T TAKE NO FOR AN ANSWER. -Sal
Tomorrow, I will try to find an idiot to fax me their REHAB policies if it did not change. And after finding the law, I will send an intent to sue letter to SERVICER (Chase Bank). I will give them 10 days to delete all SL tradelines, or I will begin to litigate. BTW: Is the SERVICER Sallie Mae or Chase Bank? Thanks again Sal.
