topic Re: Charge off Question in Student Loans

Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:10:20 GMT

Simple question.. I guess I am just confused --

How can I get a CO removed / updated on the credit report ? No Collections Reporting. Just the original lender. I am willing to make a lump-sum payment. Not paid yet.

Re: Charge off Question

LS2982 — Fri, 28 Sep 2012 22:13:10 GMT

agforfree5 wrote:
Simple question.. I guess I am just confused --

How can I get a CO removed / updated on the credit report ? No Collections Reporting. Just the original lender. I am willing to make a lump-sum payment. Not paid yet.

This would be better asnswered over in the rebuilding your credit forum.

How old is the debt?

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:13:49 GMT

This will probably end up being moved to the rebuilding forum... however; my experience is that you can write a letter requesting a settlement. At that time they will either accept or deny or counter offer. You can also offer a payment for deletion of the entire tradeline from your report. Again; the first step is to make contact with the creditor.

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:26:09 GMT

LS2982 -

The DOFD on this debt was April 2010.

Webhopper -

So it is not with collections yet but I am worried that they may be in the process of sending it to them.

So hypothetically -- If it does go to collections, do I still make the PFD arraignment with the Original lender or would I have to do it with Collections now? Who would be the one with the authority the remove the CHARGE OFF that is being reported currently by AES?

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:28:08 GMT

You contact the original lender. Don't let it go to collections. Call them now. Don't wait on this. Who is the lender?

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:29:00 GMT

agforfree5 wrote:
LS2982 -

The DOFD on this debt was April 2010.

Webhopper -

So it is not with collections yet but I am worried that they may be in the process of sending it to them.
So hypothetically -- If it does go to collections, do I still make the PFD arraignment with the Original lender or would I have to do it with Collections now? Who would be the one with the authority the remove the CHARGE OFF that is being reported currently by AES?

Sorry, to clarify - Charge off that was reported by AES in 2010 not Currently

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:30:56 GMT

webhopper wrote:
You contact the original lender. Don't let it go to collections. Call them now. Don't wait on this. Who is the lender?

Citizens Bank and AES handled the private loan.

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:31:13 GMT

Is this a private student loan?

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:32:09 GMT

webhopper wrote:
Is this a private student loan?

Correct. I have the Lump-sum $ that needs to be paid. I just want to make sure I am paying to have the CO removed.

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:34:15 GMT

Before you move forward with a settlement call and ask if they have a rehabilitation program which would remove negative reporting. if they do not; ask them to settle. I will flag your post and ask moderator's to move to the student loan forum; those guys know more about your options than I do. I assummed this was a credit card charge off..

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:38:33 GMT

webhopper wrote:
Before you move forward with a settlement call and ask if they have a rehabilitation program which would remove negative reporting. if they do not; ask them to settle. I will flag your post and ask moderator's to move to the student loan forum; those guys know more about your options than I do. I assummed this was a credit card charge off..

Already looked into the rehab program and it is not offered for Private Student Loans (otherwise that would have been the best option). Ok my apologies, I posted it on here because I usually get everything answered here. Thanks though.