topic Re: Student Loan - Defaulted then Paid by INS then went to CA in Student Loans

Student Loan - Defaulted then Paid by INS then went to CA

stone4779 — Wed, 30 Mar 2011 08:30:29 GMT

OK so I had TWO student loans originally:

-Sally Mae-----$4000

Current Status: "Pays As Agreed"

Loan opened 11/2003

Reported: 9/2007

First Delinquency:

Closed: 9/2007

Comments: "Balance paid or being paid by insurance company"

Description: Transfer/Sold/Paid

-Sally Mae-----$2561

ACCT Status: Pays As Agreed

Loan opened 10/2004

Reported: 11/2010

Last Payment: 11/2004

First Delinquency: 11/2004

Comments: "Charged off account. Variable Adjustable Rate"

Im guessing they sold the debt to these guys because now I have this:

-National Student Loan---$5115

Date Opened: N/A

Date Reported: 11/2008

Date Major First Delinquency: 11/2008

Date First Delinquency: 02/2006

Comments: "Collection Account"

-National Student Loan---$3283

Date Opened: N/A

Date Reported: 11/2008

Date Major First Delinquency: 12/2007

Date First Delinquency: 02/2006

Comments: "Collection Account"

I had my loan reconsolidated and they check has been mailed, but I have also had these people from "Account Control Technologies" calling me and hounding me, although I dont see them anywhere on any of my credit reports.. Weird.

Since it says "Collection Account" under the National Student Loan entries..doesnt that mean they went into collections as well?

So now I am getting a Direct Loan through the William D. Ford Program. (2.47%..not bad :)

So I now have only one shiny new student loan.

Ummm so hows it work...? Sally Mae sold it to National Student Loan, they turned it over to a collection agency, and whoever has my loan now is going to pay off Account Control Technologies?

WHAT I REALLY WANT TO KNOW IS:

When does this stuff go off my credit? Dont the Sally Mae ones go off 7 years from the date of first delinquency?

But what about the National Student Loan ones? Dont they go off at the same time as well? Since they are actually the same debt? I didnt sign anything with them they just sold the debt to NSS right?

Basically, when does this bad stuff go away? I really would like to clear up my credit. Any help would be GREATLY apreciated!

I hpe the clock didnt start ticking again on any of this :( PLEASE tell me all this stuff goes away after 7 years from 11/2004 and these crooks didnt restart the clock by selling the debt or tranferring it or sending it to a CA :(

THANKS!!!!

BRe: Student Loan - Defaulted then Paid by INS then went to CA

stone4779 — Wed, 30 Mar 2011 08:34:25 GMT

OH and BTW, these are Federally guaranteed loans :(

Re: BRe: Student Loan - Defaulted then Paid by INS then went to CA

hapagrrl — Sat, 02 Apr 2011 06:11:45 GMT

If they're federal loans, then you can go to the National Student Loan Database and find out who's got what and how much they say you owe:

http://www.nslds.ed.gov/nslds_SA/

Otherwise, I don't really have any answers for you -- but good luck!! (I hope they do drop off!!)

Re: Student Loan - Defaulted then Paid by INS then went to CA

shazer7 — Mon, 04 Apr 2011 19:15:01 GMT

I would not just rely on them not being on your credit report if they are calling you find out why. I will first start by locating all my outstanding loans and who has them. I have seen many times where people think they have consolidated all there loans to find out later they did not.

Re: Student Loan - Defaulted then Paid by INS then went to CA

stone4779 — Mon, 04 Apr 2011 23:33:58 GMT

Heres what Ive found:

Loan1: Sally Mae

Opened 10/2004

Closed - DOESNT SAY

Date of First Delinquency: 11/2004

Loan2: Sally Mae

Opened 11/2003

Closed 9/2007

Date of First Delinquency: "N/A"

THEN

Loan1: National Student Loan

Opened: "N/A"

Closed - Doesnt say

Date of First Delinquency: 2/2006

Loan2: National Student Loan

Opened: "N/A"

Closed: Doesnt say

Date of First Delinquency: 2/2006

Both these entries show as turned over to collections

So at some point National Student Loan turned both loans over to Account Control Technology, or sold it. IDK. Both NSL lines are listed as "open" on the trade line but they are both also listed on my EQ report under Closed Accounts. So which is it? lol

I had asked for a statement from ACS and the guy did a "Print Screen" on his computer showing both loans and sent it to me. Real classy lol.

All it showed was my previous balance and my new balance pretty much.

Anywho...

So my question still remains...can I dispute the date of first delinquency with National Student Loans and claim it was the first day I missed a payment with Sally Mae, or did the clock start over when they acquired the debt and started reporting?

Could I, for isntance, DV National Student Loan and see if they ingore? Is that my only option at this point? They are not a collection agency so paying them to delete is not an option(I dont mean pay off the debt, I know that it is already "paid". I mean straight up pay them to erase it, I would think a collection agency MIGHT be willing to, but not a student loan co. lol)

On the other hand, on my report it still shows that the National Student Loan lines are "open". Either ACT bought the debt from NSL, and NSL forgot to or did not update my credit report. OR National Student Loan hired ACT as a third-party CA.

I am currently in the process of a consolidation through Direct Loans.

Im just wondering what the best course of action would be. Looking back, I should have rehabbed first but really I dont have a year to wait. They had already sent a letter stating garnishment would commence 3/25/2011. I had to request a hearing with them to buy time while I consolditated. It was my only option. They were going to take $300/mo out of my paycheck and once it starts it is very difficult to stop, even once the loan is paid through consolidation I have heard of people still getting garnished. Granted, it goes towards the loan but sheesh. $300/mo? It like $9400!.

So what should I do?

Will National Student Loan be on my CR until 2/2013? Or can I DV them and make them update it to the original Date of First Delinquency with Sally Mae of 11/2004?

Thanks for reading whoever stuck through this without falling asleep lol. Im a newbie to all this, Im no dummy but all the different info out there sure muddys the water ya know?

Re: Student Loan - Defaulted then Paid by INS then went to CA

stone4779 — Tue, 12 Apr 2011 19:49:14 GMT

Well, after determined effort I have gotten the National Student Loan tradelines completely removed from all three credit reports. :)

I have 3 negative tradelines with Sallie Mae to deal with, well really two because at least one will fall off at the end of the year...

I just got to keep trying on the other two Sallie Maes I guess..maybe they will get tired of responding my disputes :)

I have two that supposedly became delinquent in March 2006, which is bull because I opened them in 2003 and never paid anything on them. I graduated in 9/16/2004 and if I am not mistaken they were deferred for 6 months after graduation. So I would have had to start payment March 2005. Seems they are off by a year.

I will continue to dispute these TLs until the day the naturally expire or are remove :)

Re: Student Loan - Defaulted then Paid by INS then went to CA

onslaught — Tue, 08 Jan 2013 00:03:21 GMT

I am pretty much in the same boat you were in and I would like to know how things worked out for you.

1.) After consolidating your loans, what did you have to do to make the CA remove negative items from your credit report?

2.) Did the negative information from Sallie Mae fall off of your report yet?

Thank you for any updates and information you can provide me.