cancel
Showing results for 
Search instead for 
Did you mean: 

Disputing Transferred Student loan accounts

tag
Anonymous
Not applicable

Disputing Transferred Student loan accounts

Hey Everyone, 

 

in an effort to fix my credit - one issue i have is the late payments showing on my credit from my old student loans.  Below is an example or two. So way back in 2005/2006 time frame, i enrolled in college. Took out loans as i was also excited about the money (being young and immature). So i ended up defaulting on all 6-9 of them. Well since then they have gone from Dept of ED/Nelnet to OK Student Loan Authority to now being owned by Great Lakes. They are deffered with GL until April of next year so the pay history is all OK. I know there are a lot of topics on here regarding Student Loans, but is there anything i can do to the old ones that show a $0 balance and "Transferred to another office"? How can they still be showing when the loans are being reported with Great Lakes? Im not saying i didnt pay the lates but three different reports showing for the same loans? Any advice would be appreciated. 

 

 

DEPT OF ED / NELNET #90000028242****
3015 PARKER RDSUITE 400
AURORA, CO 80014
(888) 486-4722
Date Opened: 09/19/2006
Responsibility: Individual Account
Account Type: Installment Account
Loan Type: STUDENT LOAN
Balance: $0
Date Updated: 03/04/2012
High Balance: $2,625
Pay Status: Current; Paid or Paying as
Agreed
Terms: $31 per month, paid
Monthly for 120 months
Date Closed: 03/04/2012
>Maximum Delinquency of 120 days in 12/2011 and in
02/2012<
Remarks: ACCT CLOSED DUE TO TRANSFER; TRANSFERRED TO ANOTHER OFFICE
02/2012 01/2012 12/2011
Rating 120 120 120

 

Transferred to:

 

OK STUDENT LOAN AUTHORTY #19565**

PO BOX 18145
OKLAHOMA CITY, OK 73154-0145
(405) 556-9200
Date Opened: 09/19/2006
Responsibility: Individual Account
Account Type: Installment Account
Loan Type: STUDENT LOAN
Balance: $0
Date Updated: 11/28/2011
High Balance: $2,625
Pay Status: >Account 120 Days Past
Due Date<
Terms: $30 per month, paid
Monthly for 120 months
Date Closed: 11/28/2011
>Maximum Delinquency of 120 days in 08/2011 and in
11/2011<
Remarks: TRANSFERRED TO ANOTHER OFFICE
Estimated month and year that this item will be removed: 02/2018
10/2011 09/2011 08/2011 07/2011 06/2011 05/2011 04/2011 03/2011 02/2011 01/2011
Rating 120 120 120 90 60 OK OK OK OK OK
12/2010 11/2010 10/2010 09/2010 08/2010 07/2010 06/2010 05/2010 04/2010 03/2010
Rating OK OK OK OK OK OK OK OK OK OK
02/2010 01/2010 12/2009 11/2009 10/2009 09/2009 08/2009 07/2009 06/2009 05/2009
Rating OK OK OK OK OK OK OK OK OK OK
04/2009 03/2009 02/2009 01/2009 12/2008 11/2008 10/2008 09/2008 08/2008 07/2008
Rating OK OK OK OK OK OK OK OK OK OK
06/2008 05/2008 04/2008 03/2008 02/2008 01/2008 12/2007 11/2007
Rating OK OK OK OK OK OK OK OK

 

Transferred to:

 

US DEPT OF EDUCATION/GLE(GreatLakes) #206029137174****
2401 INTERNATIONALPOB 7859
MADISON, WI 53704
(608) 246-1750
Date Opened: 08/26/2008
Responsibility: Individual Account
Account Type: Installment Account
Loan Type: STUDENT LOAN
Date Updated: 05/31/2016
Payment Received: $0
Pay Status: Current; Paid or Paying as
Agreed
Terms: $0 per month, Deferred
>Maximum Delinquency of 90 days in 04/2016 for
$472<(corrected now to reflect all on time payments)
High Balance: High balance of $10,155 from 10/2014 to 11/2014; $12,902 from 12/2015 to 05/2016
Special Payment: Payment deferred until 07/15/2016
Remarks: ACCOUNT IN FORBEARANCE
05/2016 04/2016 03/2016 02/2016 01/2016 12/2015 11/2015 10/2015 09/2015 08/2015
Balance $12,902 $12,902 $12,902 $12,902 $12,902 $12,902
Scheduled
Payment
$0 $157 $157 $157 $157 $157
Amount Paid $0 $0 $0 $0 $0 $0
Past Due $0 $472 $0 $0 $0 $0
Rating OK 90 OK OK OK OK

Message 1 of 3
2 REPLIES 2
RobertEG
Legendary Contributor

Re: Disputing Transferred Student loan accounts

The Higher Education Act mandates that creditors report delinquencies on federal student loans to at least one CRA.

Thus, the prior delinquencies incurred under the prior owner are mandated to continue to report.

 

The normal credit report exclusion periods do not apply while the loan remains delinquent.

Once the account is returned to pays as agreed, good-standing, as is apparently your case, then the normal 7 year exclusion period for monthly derogs applies.

Thus, the prior delinquencies with other lenders appear now to be excludable at 7 years from their respective dates of occurence.

 

The only provision for earlier removal of delinquencies is to enter the rehab program while the debt remains delinquent.  Upon completion of the rehab provisions, the monthly delinquencies can be removed.  Since your loan is now apparently current, the ability for rehab removal would no longer would appear to be available.

 

 

Message 2 of 3
Anonymous
Not applicable

Re: Disputing Transferred Student loan accounts

well crap... thanks so much for the insight and comment, man. 

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.