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Student loan debt incorrectly labeled as charge off?

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mrgrosskopf
New Visitor

Student loan debt incorrectly labeled as charge off?

I had paid off a student loan in full before it was even in repayment in 2012. I looked at my credit report today and noticed it is listed as Charge off - OK

 

This is seriously hurting my credit score as it comes up as a delinquent account.

 

Any recommendations? Can I get this fixed?

Message 1 of 4
3 REPLIES 3
RobertEG
Legendary Contributor

Re: Student loan debt incorrectly labeled as charge off?

Send them a direct dispute over the accuracy of their reporting.

It is not possible for a creditor to charge a debt to accounting loss that was not delinquent at the time.

 

If you show a continued period of non-delinquency, it should be open and shut.

Message 2 of 4
mrgrosskopf
New Visitor

Re: Student loan debt incorrectly labeled as charge off?

Thanks, all the credit report said was "Account information disputed by consumer (Meets requirement of the Fair Credit Reporting Act)."  but every other field shows it as being paid  2.5 years ago.

Message 3 of 4
RobertEG
Legendary Contributor

Re: Student loan debt incorrectly labeled as charge off?

The issue is simply whether the account was ever, at any point in its prior history, charged by the creditor to profit and loss.

Once charged-off, later payment or delinquency status does not result in removal of that reporting.

If never deliquent, then no CO as a matter of fact.  However, if the account was ever delinquent, then the possibilbity might exist.

 

Only the credtior knows for sure whether they took that accounting measure, so you need to raise the issue with them.

 

Message 4 of 4
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