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I went 12 months late on my Dept of Education loan (I know, I'm a terrible person). After 12 months, I called to resume payments and they said that they would not accept payments as the account was being transferred to a debt resolution department. I asked how long that would take, they gave no ETA. It took 5 months. After the 5 months, I settled the debt with one payment and now it's paid. However, I have 17 months of late payments on my credit report. The first 12 months are accurate, but the last 5 seem unfair to me as I was literally not allowed to pay. When I emailed them, I stated this:
Dear Direct Loan Borrower,
Thank you for your email inquiry. That is all correct.
What is the next step (if any)?
One word: OMBUDSMEN
I'm not sure there is anything you can do for this. However, you may want to call a credit repair company and ask them if they would be able to have it removed.
@H2013 wrote:I'm not sure there is anything you can do for this. However, you may want to call a credit repair company and ask them if they would be able to have it removed.
i've done that before, US Dept. of ED is going to fight it and tell the bureaus the info is accurate. The only ones that can fix it and update the balance to paid as agreed $0 is the OMBUDSMEN
Wow I had no idea such a thing existed. I love this forum. Thank you for the suggestion
Also probably worth pursuing, as govt guaranteed or insured loans have exclusion periods for monthly delinquencies that are longer than the normal 7 years.