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New Member
Posts: 4
Registered: ‎06-05-2007
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Student Loan Issues

I have a question about how to remove a student loan reporting off my credit report.  I have loans that first reported in 1998 and they are still showing on all three credit reports and are bringing my score down.  I thought it could only report seven years and then they would fall off.  I have disputed with all agencies, but they will not remove them.  Since they reported, they have been sent to another lender and have been paid on time.  I want the information removed so my scores will improve.  My scores are currently 607 TU 607 Experian and 542 Equifax.  I feel that if these negatives are removed my scores could improve significantly.
Established Contributor
Posts: 578
Registered: ‎06-18-2007
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Re: Student Loan Issues



jillian2778 wrote:
I have a question about how to remove a student loan reporting off my credit report.  I have loans that first reported in 1998 and they are still showing on all three credit reports and are bringing my score down.  I thought it could only report seven years and then they would fall off.  I have disputed with all agencies, but they will not remove them.  Since they reported, they have been sent to another lender and have been paid on time.  I want the information removed so my scores will improve.  My scores are currently 607 TU 607 Experian and 542 Equifax.  I feel that if these negatives are removed my scores could improve significantly.


Questions:
 
Are you saying the loan first started reporting in 1998, or that it first went derrogatory in 1998? My assumption here is that it was derrogatory and then was sold.
 
So if you can give a little more information on the loan, like when you got it, how derrogatory was it and when it was transferred to the other lender it would help the people on the here to give you a more direct answer.
New Member
Posts: 4
Registered: ‎06-05-2007
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Re: Student Loan Issues

It first reported in 1998 and went 120 past due pretty quickly.  It actually went into default in 2002, but I took it out of default and that is when it was transferred to another lender.  It has actually been reported nine times between all the different stages, but now it has been consolidated and is being paid on time. 
Established Contributor
Posts: 578
Registered: ‎06-18-2007
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Re: Student Loan Issues



jillian2778 wrote:
It first reported in 1998 and went 120 past due pretty quickly.  It actually went into default in 2002, but I took it out of default and that is when it was transferred to another lender.  It has actually been reported nine times between all the different stages, but now it has been consolidated and is being paid on time. 


Well then it seems like you need to send the original lender a GW asking them to remove the account from your credit report. Because techincally they can report the account for 7 years from the DOFD so that's 7 years from whatever month in 2002, ie. 2009 sometime
 
Now when you say it was reported 9 times, I'm still a little confused, reported 9 times by whom?  Sorry to keep asking questions, I'm just trying to get a clear picture.  But first things first, you have to send a GW to the original lender.
Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
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Re: Student Loan Issues



trinigal wrote:


jillian2778 wrote:
It first reported in 1998 and went 120 past due pretty quickly.  It actually went into default in 2002, but I took it out of default and that is when it was transferred to another lender.  It has actually been reported nine times between all the different stages, but now it has been consolidated and is being paid on time. 


Well then it seems like you need to send the original lender a GW asking them to remove the account from your credit report. Because techincally they can report the account for 7 years from the DOFD so that's 7 years from whatever month in 2002, ie. 2009 sometime
 
Now when you say it was reported 9 times, I'm still a little confused, reported 9 times by whom?  Sorry to keep asking questions, I'm just trying to get a clear picture.  But first things first, you have to send a GW to the original lender.


Happy 4th of July! Sorry for raining on your parade. GW letters often work but not with SLs. I have never heard of a successful GW letter for lates or etc. I know it stinks!Smiley Sad
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Established Contributor
Posts: 578
Registered: ‎06-18-2007
0

Re: Student Loan Issues

Oh, you're not raining at all.  The way I see it, she's got nothing to lose.  It may not work, but hey!   It's worth a shot!  At least to me.
 
But yes I should have mentioned that SLs especially Fed SLs are  very tough to get deletions on.
Moderator Emeritus
Posts: 16,381
Registered: ‎03-12-2007
0

Re: Student Loan Issues



trinigal wrote:
Oh, you're not raining at all.  The way I see it, she's got nothing to lose.  It may not work, but hey!   It's worth a shot!  At least to me.
 
But yes I should have mentioned that SLs especially Fed SLs are  very tough to get deletions on.



Exactly, agreed!Smiley Tongue
Credit Profile - FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 27 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: TU 1


Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring World Mastercard ~ Chase Freedom Signature Visa ~ CITI Dividend World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Student Loan Issues

Forget about GW for student loans. You are stuck with any baddie if they are valid. The Higher Education Act requires that all student loans report for the full seven years.
Established Contributor
Posts: 578
Registered: ‎06-18-2007
0

Re: Student Loan Issues



Tuscani wrote:
Forget about GW for student loans. You are stuck with any baddie if they are valid. The Higher Education Act requires that all student loans report for the full seven years.



Well, see now that sucks!  Smiley Sad
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Student Loan Issues



trinigal wrote:


Tuscani wrote:
Forget about GW for student loans. You are stuck with any baddie if they are valid. The Higher Education Act requires that all student loans report for the full seven years.



Well, see now that sucks!  Smiley Sad


Yep.. A student loan late is the only type of baddie I have never been able to help someone get removed. Smiley Happy

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