Help with dispute over old account

[ladybug72]

Oh, and it was also closed in 2000, which is over the 10 years. I'm just wondering if I can request the CRA to remove it because of the age of the account, and which agency is best to deal with on these things since it is on all three of them. The lender said if I got it taken off of one, it would come off of the others, too.

[guiness56]

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@ladybug72 wrote:

It has delinquincies showing on it from back in 1997, so it is considered a negative account. While it got straightened out and was sold back in 2000 to a new lender, it still shows the delinquincies. The lender says that since it was a government-backed student loan program and we are trying for an FHA, it is hurting our approval.

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Those delinquencies, even on a government backed SL, should have been removed 7 years from their occurence.  If they are from 1997 they should have been removed in 2004 leaving the account in good standing.

I would try to contact the CRA and ask them about their reporting.

[guiness56]

That old of an account being removed could cause damage in the AAoA department and cause a drop in score.

[guiness56]

Well, if it was closed in 2000, it should not be there, either way.  The lates or the account should be gone, or both.

[ladybug72]

Thank you, everyone, for your help. I'm just going to try to get it removed because of the time that has passed. I knew you could do that with regular accounts but don't really understand student loans. Thanks for clarifying.