help understanding a negative

[cookiebird]

I am a little confused on this one. I have searched around and it didn't seem like anyone has had much luck with Nelnet having negatives removed so I have been trying to figure out the DoFD. 

It states:

Status as of April 2011

Date of last activity October 2003

0 30 days late

0 60 days late

90 days late 7 times April 2007, March 2007, May 2007

They sold my account and since it has been perfect!  But I am not understanding how date of last activity is October 2003 but I have 7 lates from 2007.  I can't remember when they sold the account so I am not sure how to approach this one. I know I had it deferred in there as well.

[MaRain]

Based on the limited information that you provided, I am guesstimating that the DoFD was around March 2007? Does this seem correct? Do you have older CRs that might have a DoFD?

[guiness56]

I agree with you.  If the DOLA was 2003, the DoFD should be before that or at least the same time as that.

Is this an OC and if so, what type of an account?  You can always ask for an itemization of payment and history.

[cookiebird]

It was a student loan that they sold and now I work with another lender. Nelnet is only showing on my EQ and not sure about EX since I haven't pulled that one yet.

I do have a credit report from March of 2012 and it shows the same thing, Date of last activity 10/03 and lates from 2007.  I am not understanding how the Date of last activity is 2003 but I can have lates in 2007.

[guiness56]

You can't.  You need to contact the guarantor and find out what is happening.

[RobertEG]

With the history provided, DOFD would be irrelevant and would most likely never have been reported by the creditor, as I see no statement that they reported a charge-off.  While any account that has once become delinquent always has a DOFD associated with it, reporting of that date to a CRA is not required until it has become relevant.

DOFD has only one use in credit scoring.  It is reported to provide the CRAs the relevant date to calculate the CR exclusion date of any reported charge-off or collection.

FCRA 623(a)(5), which controls reporting of DOFD, does not require a DOFD to be reported by a creditor until they have reported a charge-off the debt.

If the creditor sold the debt without reporting a CO, then they will not have reported a DOFD.  Any debt collector who then reports a collection is under the requirement  to obtain the DOFD on the OC account, and report it to the CRA within 90 days after reporting of their collection.

In such situations, you can determine the DOFD that the debt collector should report if and when they report a collection by using your own account records.

You wont get it from your credit file/report.

[guiness56]

The question is how can the DOLA be 2003 and late payments reported after that.

[bahbahd]

DOLA of 2003 could simply be when the last payment was received (or something similar) OP probably had payments deferred (or loan in forbearance) since then. The late payments would only show up when the deferment/forbearance ended and OP did not make new arrangements or send in a payment. 

OP, I'm sorry to tell you that you are probably going to have an extremely hard time getting those late remarks off your report. Nelnet is probably the least forgiving SL servicing agent. They will tell you "no changes" over and over. The only way you can get them removed by their policy would be if you were in school (and can prove it ) or if you were on active duty during that time.  However, if you can prove that your loans were transferred to a new servicing agent pre 2007 late payment remarks, you might have a fighting chance to have them remove the late payment remarks. That is only if they were not servicing your loans at that time.

Thank goodness that B. Obama and Congress are trying to pass legislation that would put an end to private companies being used as student loan servicing agencies (payment collectors.)  Nelnet is an evil company that participated in shady practices to defraud the US government out of many 100s of millions of dollars. They loan recycled unaware borrowers. They've tricked people into consolidating when it was not in the borrowers best interest - new terms, new interest rates. Some borrowers have documented proof of duplicate daily interest calculations. Just pennies for that person, but  hugely significant sums if done across all their holdings. All in all bad people that are not looking out for borrowers best interests. They have a few shills on this website also. Beware.

[guiness56]

DOLA cannot be 2003 with late payments reported in 2007.  It is impossible.  The DOLA would need to change to reflect that.  Doesn't matter if it was in deferment or forebearance.

[cookiebird]

Thank you.  I wish I had kept more documentation from my SL accounts. The entire time Nelnet had it I did not ever see a change in the balance. Even over time. Now that Suntrust has had it a few years I have seen a considerable drop in my balance.

I've read that Nelnet won't remove late payments and I just can't remember that far back as to my deferment dates and so forth. I guess I have another year or two of those lates on there.