I just joined today in hope to raise my credit score and get a better understanding of how this all works. After joining credit karma and quizzle, I heard that this was a better option and the forums were more help. My score according to the fico equifax is 531. I know this is really low, but I was young and dumb out of college and didn't realize how bad letting my student loan accounts go delinquent would be.
I have a question about closed accounts. I have 7 accounts that were previous student loans and they were transferred to another company. Is it possible to get these off of my report since they have been transferred and are reporting negative? The negative reporting is from past years.
I have a total of 15 accounts that have negative indicators. 7 of these have transferred balance. The other 8 have been paid on time recently and will not be missing another payment.
I also have one account in collections for a medical bill totaling $740. I will be sending a PFD in the near future. Any advice or direction would help.
Unfortunately when some loans are transferred, like in the case of SLs, the payment history forwards to the new loan. It doesn't seem fair but it's commonplace. How severe is the most severe late? How recent was that? How recent is the newest late? Depending on the answers, you might be better off doing nothing. For example, all the lates disappear by 7 yrs so if approaching that, it might be worth it to stick it out. Converesely, if the loans were just transferred and those lates recent, then you'd want them off. The appropriate step to take is to GW each loan, but again, depends on the recentness of it.
Account 1: 90 days late x2 in 2011. "Closed or paid account / zero balance"
Account 2: 90+ days late x10 as recent as Jan 2013 "Account transferred or sold"
Account 3: same as account 2 "Account transferred or sold"
Account 4: same as account 2 "Account transferred or sold"
Account 5: Same as account 2 "Account transferred or sold"
Account 6: 120 days late 1 x April 2011. "Closed or paid account / zero balance"
Account 7: 60 days late 1 x Feb 2011 "Account transferred or sold"
Any help would be greatly appreciated