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OC says its up to CRA on how they report it? How should I dispute this loan?

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Anonymous
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OC says its up to CRA on how they report it? How should I dispute this loan?

Hello, I had a large student loan with Ny State higher ed. that shows as payment after chargoff/collection because it was in default when I consolidated with the Direct Loan Program. I contacted NY state to get the reporting status changed to just Paid, and they told me they Report only as a Zero Balance, and it is up to the CRA on how they report it as, the customer service rep actually recommended that I dispute it with the CRA to see if I can get the status changed. Im not sure how I would dispute this with the CRA. My guess would be to send in a letter dispute CMRRR and dispute as "Should be Paid or paying as agreed" and not "Chargoff" Any recommendations? Thanks in advance
Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: OC says its up to CRA on how they report it? How should I dispute this loan?

bump...anyone?
Message 2 of 7
Junejer
Moderator Emeritus

Re: OC says its up to CRA on how they report it? How should I dispute this loan?

Hi aerospace, SLs are not my strong-suit. Maybe HappyDays will come strolling through sometime this evening.






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Message 3 of 7
Anonymous
Not applicable

Re: OC says its up to CRA on how they report it? How should I dispute this loan?



aerospace10 wrote:
Hello, I had a large student loan with Ny State higher ed. that shows as payment after chargoff/collection because it was in default when I consolidated with the Direct Loan Program. I contacted NY state to get the reporting status changed to just Paid, and they told me they Report only as a Zero Balance, and it is up to the CRA on how they report it as, the customer service rep actually recommended that I dispute it with the CRA to see if I can get the status changed. Im not sure how I would dispute this with the CRA. My guess would be to send in a letter dispute CMRRR and dispute as "Should be Paid or paying as agreed" and not "Chargoff" Any recommendations? Thanks in advance


I have successfully done this with the CRA, where I picked only a specific part of the account to dispute.  Account Status/Condition or the date it was opened.  (They were shorting me out of a whole six months of payment history on one CRA report, so I sent in a copy of my first statement).
 
You will need to get a PIF letter from the loan folks that says it was "paid in full" when it was consolidated with Direct Loans.  Ask the representative if you have to submit a written request for the PIF letter.  I've written out formal letters and faxed them to the rep, who the faxed me back a PIF letter on company letterhead.  It may have to be approved by a supervisor but hey you are still their customer and who doesn't have a fax machine these days?
 
Then you collect your supporting documentation, if necessary, like the consolidation letter or final statement etc. and attach this to your written dispute letter.  You should still be able to get copies of these from the loan folks if you have misplaced them.  I know this might seem like overkill but I like to be safe than sorry.  You may only need the PIF letter from the loan folks to sucessfully get the Account Status/Condition updated to Paid.
 
 
Jodi
It's always hardest before the summit.
Message 4 of 7
Anonymous
Not applicable

Re: OC says its up to CRA on how they report it? How should I dispute this loan?

aerospace10, I know next to nothing about SLs  but  do as shawtycat said.
 
When dealing with a creditor   you need the info. on *letterhead* from the creditor in order to show proof to the CRAs!  It is always up to the creditor to report accurate info. So the onfo that they (NY) gave you is not right. They should have changed it with the CRAs.  
Message 5 of 7
Anonymous
Not applicable

Re: OC says its up to CRA on how they report it? How should I dispute this loan?

Thanks everyone, i will get that letter on letterhead. I was a bit skeptical in believing NYSHESC when they told me it is up to the CRA on how they report it and they only report the zero balance. Maybe they just didnt have the heart to tell me over the phone that there was nothing they could do for goodwill so they bounce me to the CRA to dispute it.
Message 6 of 7
Anonymous
Not applicable

Re: OC says its up to CRA on how they report it? How should I dispute this loan?



aerospace10 wrote:
Thanks everyone, i will get that letter on letterhead. I was a bit skeptical in believing NYSHESC when they told me it is up to the CRA on how they report it and they only report the zero balance. Maybe they just didnt have the heart to tell me over the phone that there was nothing they could do for goodwill so they bounce me to the CRA to dispute it.


Sometimes they don't seem to care past receiving their cash. I've had incidences where the CA told me they reported a zero balance but only the OC could update my report to take off the derogatory Charge-off/Unpaid and they give me the OC's number.  I call the OC and they cut me off mid-sentence to say that the account was sold to a CA, here's the number and go take up your beef with the CA not us. 
 
So I call the CA back, I let them take all my information down and pull up my account.  They say hey, this was paid.  So I say, I spoke to so and so at this extension on this date, I did pay my account in full/settle my account in full as you have just confirmed, I never got my PIF letter as promised by (mention so-and-so's name again), it is past the 14 or 30 days mailing deadline and who do I speak to get my PIF letter.  Then I tell them since it never made it to the mail, here is my fax.  If I have to I will tell them I will hold so they can go get whomever they need to get.  I usually get what I want within 5 minutes, or a maximum of 24 hours, of such a logical demand.  Do not put up with getting the run-around.  Always write down the name of the rep, their extension and when you spoke to them in a journal if you have to. 
 
I already know that they will not update the account again and I will have to dispute with proof myself directly to the CRA.  I will mention the representative names in my letter, add a copy of my outgoing phone record, a redacted copy of my bank/credit card statement where the last payment I made to bring the account current was made and the PIF letter.  It's the squeaky wheel, with document support, who gets the grease so it can shut up.  After all, there has got to be a law somewhere that says they should report accurate info.
 
"Redacted" means when you black out your bank account number and any other sensitive info. 
 
Jodi
It's always hardest before the summit.
Message 7 of 7
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