05-19-2008 02:28 PM
05-20-2008 06:23 PM
05-20-2008 06:40 PM
05-20-2008 09:45 PM
05-21-2008 09:29 AM
Timothy wrote:All I can say is it is TOUGH to get mistakes on SL providers corrected-It is impossible is get GW on SL while there is a balance because of the HEA that requires them to report accurateEven after being paid - it is tough-
05-25-2008 07:18 AM
05-25-2008 09:51 PM
05-29-2008 06:41 PM
Timothy wrote:It is impossible is get GW on SL while there is a balance because of the HEA that requires them to report accurate
Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!
05-29-2008 08:17 PM
While it might not say it directly- They (SL servicer) interprets this section "2), and shall disclose promptly to such credit bureau organization any changes to the information previously disclosed." as they must report ANY changes - good or bad.
HEA Section 463 (4)(a) http://www.tgslc.org/pdf/HEA_Title_IV_Oct02.pdf
(4)(A) Except as provided in subparagraph (B), an institution
of higher education, after consultation with the Secretary and pursuant
to the agreements entered into under paragraph (1), shall
disclose at least annually to any credit bureau organization with
which the Secretary has such an agreement the information set
forth in paragraph (2), and shall disclose promptly to such credit
bureau organization any changes to the information previously disclosed.
It is impossible is get GW on SL while there is a balance because of the HEA that requires them to report accurate
I read through the HEA and the resulting Amendments and I can't find a single thing that says that! All I found were provisions stating that they can't report damaging inaccurate info and that if a defaulted loan is successfully rehabbed, they have to remove the "default" notation with the CRAs.
Can I ask where it says that they can't GW? We've got a few lates that I'm desperate to remove!! Arrgghh!!!
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