PIF student loan-now showing interest!

[BungalowMo]

On Feb 21st I paid off my US Dep Edu. loan.  $532.00!  Got my letter...PIF  So, obviously I have been watching my reports for this to go to paid with a 0 balance.

Yesterday it showed up as still open with the balance as 534!  Called dep edu & they said they have not updated the TL yet.  I say bull.  I was ticked off & hung up on them!  The 3 CRA's aren't going to add on this interest, so I know it's coming from D of E.

I'm ticked off.  Should I do a dispute with the 3 CRA's thru the mail with a copy of the paid letter for each?  Should I maybe fax it??

 Thanks all....

[Anonymous]

I would wait 30 days and see if they report correctly.

[BungalowMo]

Hey Sidewinder...that's basically what I was doing until I saw the balance had gone up!  Wouldn't this change have been generated from the loan co?

[Anonymous]

Yes, but it could have been an automated reporting before they showed the account PIF.

There is sometimes a lag between when the creditor reports and when the CRA show the update.

By waiting 30 days, you will wait through a 2nd reporting period of the OC and it should update correctly then.

[BungalowMo]

Ok...thanks!  You know how it is when you're waiting for something to update.  Especially a PIF account!!   The payment went thru on 2/23 so it ought to be showing up soon!!!