I don't know much about student loans and student loan rehab, so this might be totally irrelevant. I was going through some 10+ year old files last night and ran across some notes from when I was a paralegal working on a major student loan case. Seven japanese banks were suing BofA because they had lost billions they (Japanese Banks) had loaned in in guarranteed student loans (BofA was the US agent). The reason that the banks lost the money was that BofA did not exercise "due dilligence" standards in collecting these loans, therefore, the US Dept. of Ed would not reimburse the loan. (The loans were deemed uncollectable from the debtor -- many of the loans were to welfare recipients attending dubious trade schools.) My question is this? Does the lender have a due dilligence obligation to the debtor? I'm thinking of cases where many years have passed; the debtor has heard nothing and the debtor could have easily been found. It might be an interesting avenue to explore.
Re: mini warehouses and credit I put some stuff in a mini warehouse and agreed to pay them monthly for the space. Because of slow mail, some payments were late by a few days. They reported this to all three credit bureaus and now I am stuck with this on my report. The payments were always made but some were late by as much as a week. Is this the type of thing that is deemed credit and therefore reportable to the CRI's? I would like to find some argument to get this off my reprts.
KAren good question, but you should start a thread about it, the posters question was about student loans.
Any "member" reports I suppose anybody that buys a membership from the credit bureau(s) can report credit, even if they only sell snake oil. You are basically talking about a landlord type situation. If I remember right, I think landlords get a special break on belonging to the credit bureaus because they don't have near the volume of pulls and reports as somebody like a bank or GMAC or Ford Motor Credit or whatever. About all you can do is just learn how to get them removed from your credit history or let one of the spammer type companies try to get it off for you. Doing it yourself is a lot better way to go. Bill Bauer
Re: mini warehouses and credit Credit reports don't have a space for "1 week late", only 30/60/90 days late. if these payments were a week late and are being reported as 30 days late, I'd fight them as "inaccurate"
Re: mini warehouses and credit Re: mini warehouses and credit Author: karen (proxy3-external.nash1.tn.home.com) Date: 04-24-01 07:03 I put some stuff in a mini warehouse and agreed to pay them monthly for the space. Because of slow mail, some payments were late by a few days. They reported this to all three credit bureaus and now I am stuck with this on my report. The payments were always made but some were late by as much as a week. Is this the type of thing that is deemed credit and therefore reportable to the CRI's? I would like to find some argument to get this off my reprts. ```````````````````````` Reply== If you were only a week late how can they report 30 or more days late ?????????????????????????????????????????????????
Re: mini warehouses and credit Re: mini warehouses and credit Author: mickey (proxy3.gm.com) Date: 04-24-01 07:47 Credit reports don't have a space for "1 week late", only 30/60/90 days late. if these payments were a week late and are being reported as 30 days late, I'd fight them as "inaccurate"``````````Reply To Message ===Just what i just said see my other post.l.b.
