Student loans

[Anonymous]

I have 21 late payments on my credit report as the loan company sent the payment noticed to the wrong address. I've already explained my situation and asked for an goodwill adjustment and they denied it. What's my next step?

[RonM21]

I wonder if you can't ask for validation of the debt, or something along those lines to confirm they sent the info to the wrong address. Hopefully someone more in the know responds.

[Anonymous]

All you can do is to continue asking for GW adjustments. You don't DV and original creditor.

[Anonymous]

This is the email they sent back:

Justin,

Thank you for your recent email.

This email is in response to your recent correspondence concerning your account. We understand that you are requesting delinquencies reported on your account in the past be removed.

The Higher Education Act of 1965 requires that Great Lakes report the status of all serviced student loan accounts to the credit bureaus. Additionally, the Fair Credit Reporting Act requires that this information is reported accurately and objectively. We are audited to ensure our compliance with these requirements.

Upon receiving your request for an adjustment to the data that we credit reported on your student loan account, we re-evaluated to ensure no errors were made that would lead to, or result in, inaccurate delinquency reporting (such as misapplication of payments). No such errors were made.

We also reviewed your request for a possible credit adjustment, but unfortunately, you could not be approved for such an adjustment. Please continue to make your payments as scheduled each month, or proactively seek options from us anytime you are in need of repayment assistance. This could prevent future negative credit reporting on your student loan account.


Please let us know if you have further questions.

[RobertEG]

Did they send to the "wrong" address after you sent them clear notification of a change of address, or did you fail to send a change of address?

Additionally, since it is a loan with known due dates and amounts, it is unclear as to how lack of receipt of a bill excuses lack of timely payment.

Monthly billing is only explicitly required for revolving (open-ended) credit per the FCBA.

As for reporting of lates, if they were legitimate, they have no good-will discretion to delete, as the Higher Education Act requries their reporting.