Just took my first GW action - seriously bummed!

[Powertrip]

I had student loans that got bought up by Ed Financial.  After searching on here, I saw very little in info about successes, except one thread where there was a lot of PMing of info on how some were successful.

I was slightly more optimistic with my case because the lates they submitted to the CRAs were in the middle of a forebearance and they shouldn't have been reported as lates at all... I figured that with this being the case they would see that and agree to revise my tradelines.  WRONG

So discouraged right now

[denver133]

Send them another letter!  Do it every month!  Over and over and over.  

I am on letter number 25 to Sallie Mae regarding my lates I would like to have removed.  They keep responding back with no but I keep sending them letter after letter.   

Its rare to see them but trust me, they happen.  They can say no 100 times but it only needs 1 yes to make it happen.  

This process isnt going to happen over night, so keep at it.  

[Powertrip]

Thanks for the encouragement! Still bummed but I've got awhile in the garden before I can really do anything anyway.

I just got over excited hearing everyone's success stories lol

[tomfromrictmame]

Are you saying this particular TL is inaccurately reflecting the status during a forbearance period?  If it is inaccurate you should be challenging the information, not sending GW letters.  In essence GW letters are asking the creditor to do you a favor.  Inaccurate information should be removed.

[SunriseEarth]

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@denver133 wrote:

Send them another letter!  Do it every month!  Over and over and over.  

I am on letter number 25 to Sallie Mae regarding my lates I would like to have removed.  They keep responding back with no but I keep sending them letter after letter.   

Its rare to see them but trust me, they happen.  They can say no 100 times but it only needs 1 yes to make it happen.  

This process isnt going to happen over night, so keep at it.  

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+1.   To the OP, if you're attempting to GW, it takes persistance.  I'm on my third round with LVNV, and nothing yet.  Success can take time, FWIW.

Also, I agree with the later post.  If they are reporting inaccurate information, then it needs to be disputed, not GWed.

[Powertrip]

I guess GW was the wrong term. I called them and asked them to correct information because it was inaccurately reported. I was basically told I was SOL so I'm not sure how to attack this problem from this point.

Any suggestions are appreciated!

[money_talks]

If the lender says they reported accurately, I would kindly ask for proof showing you how the lates came about. That is, dates of when everything happened. If the lates occurred during forbearance, it should be clear as day showing when your forbearance period was from, eg, Day1-Day10, and when the late was reported, eg on Day 5.

[Powertrip]

Thanks, Money_talks.  This is exactly what I'll do!

[money_talks]

Powertrip: See the post below by RobertEG. The post lays out the next steps in the scenario the lender continues to report inaccurate information after informal attempts with the lender to get the issue resolved.

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Settle-judgment-with-lawyer-OC-still-show-bal...

FCRA 623(a)(2) places a stautory requirment on any one who has reported information to a CRA to timely update that information so as to maintain its current accuracy.

If informal attempts to get the information updated haved failed, then send the furnisher a direct dispute under FCRA 623(a)(8), which puts them under a 30-day period to either state in writing that they verify the information to be accurate, or else correct their reporting.

The dispute process does not require them to provide documentation to support their statement that they verify the accuracy.

If they do verify, simply trot over to small claims court and file an action for violation of FCRA 623(a)(2).  That will require them to produce their documentation in support of their finding.  If the settlement clearly expressed that the debt was satisfied, they were required to have timely updated their reported debt balance to $0.

[money_talks]

FCRA 623(a)(2) places a stautory requirment on any one who has reported information to a CRA to timely update that information so as to maintain its current accuracy.

If informal attempts to get the information updated haved failed, then send the furnisher a direct dispute under FCRA 623(a)(8), which puts them under a 30-day period to either state in writing that they verify the information to be accurate, or else correct their reporting.

The dispute process does not require them to provide documentation to support their statement that they verify the accuracy.

If they do verify, simply trot over to small claims court and file an action for violation of FCRA 623(a)(2).  That will require them to produce their documentation in support of their finding.  If the settlement clearly expressed that the debt was satisfied, they were required to have timely updated their reported debt balance to $0.

[Powertrip]

Thank you.  This information is a BIG help!