01-21-2014 09:57 AM
First off, I am brand new to the site. I am 27 and finally deciding to get my credit situation in order, but my student loans are holding me down.
I have 15 adverse accounts on my TU CR, and all are due to be removed from my CR in either 2017 or 2018. They are all with four companies.
CitiBank - 1-TL C/O
Discover - I have 4 TL's with Discover. 3 have been C/O but have just recently settled with a smaller paid in full payoff. the last one
still says account 120 days past due, butitisshowingthelastmonthof120on03/2011
Sallie Mae - I have 5 TL's with Sallie Mae and all show the very first payment as 90 days overdue on 10/2011
SLC Conduit I LLC - C/O CitiBank Student Loan - 5 TL's all saying 60 days past and all have "Transferred to Another Lender: Transferred to another office"
Now to the questions:
1. There is a phone number at the top of my CR that is being reported that I don't recognize. How do I see if that wrong phone number is falsely being reported on any of my CR and how do I get it removed?
2. Can a C/O account be reopened? If I inquire about the Citibank loan can it somehow come back to bite me in the rear? Discover bought what I thought was all of my CitiBank debt and yet Citi is still showing a C/O on my account. Also, the same question applies to my open loan with Discover? If I inquire about it can they come back and try to make me pay it if it is indeed a current loan, and how would you handle that?
3. On three Discover loans that are showing C/O. I recently settled those with a smaller paid in full payoff. Should the C/O come off my credit report; and if so, will that improve my CS
4. I called Sallie Mae about my late payments, and the representative I talked to was not showing any late payments. He told me to send them a letter and a copy of my CR and they should remove it. Do I actually send this letter and CR to Sallie Mae or should I send it to a CRA for dispute? Since it was the very first payment it could be the Sallie Mae representative just made a mistake of not seeing the late payment.
5. SLC Conduit I LLC - C/O CitiBank - Can I call to see where these loans went, and how do I verify to see if they are even mine?
I am terrible sorry for all the questions, but would greatly appreciate any help/suggestions you guys wouldn't mind sharing. I am just beginning to repaire my credit and need all the help I can get.
Thanks again, and I very much appreciate all help/opinions,
01-22-2014 07:46 AM
1. If you see information on your credit report then so can your lenders. You can dispute any inaccurate information, including that phone number, but it's probably not a big deal.
2. Some lenders will pull back charged off debt and allow you to repay them if you make arrangements. Is this a private student loan that is outside the statute of limitations? You'll want to look into the rules for your state, in some states making a payment can reset the SoL clock. Contacting them just to ask if they are willing to pull the debt back and/or who is holding it now should not.
3. Negative information can remain on your report for 7 years after the date of first delinquincy - so no, they don't automatically come off. They should be updated to reflect that they are paid, however. If you check out the Rebuilding Your Credit forums, you'll also see that you can sometimes negeotiate the removal of items when you pay them as part of that process. In the case of these tradelines, I would reccomend goodwill letters since they are already paid.
4. Do as the rep for Sallie Mae asked and see what the outcome is. If they don't respond and you believe the late payment is being reported incorrectly, go ahead and dispute it, that's what the process is there for.
5. Yes, you can call and ask - they may or may not know, depending on if the debt has been sold again since it left the original lender. Hop over to the Rebuilding Your Credit forums and take a look at information about debt validation to see the process for verifying that a debt in collections belongs to you.
Welcome to the forums, and don't worry about the questions, we're all here to learn!
01-28-2014 08:08 AM - edited 01-30-2014 07:51 AM
Thank you SCF.
After some more research my Citi loans were sold to Discover, and then sold back to Citi because Citi-Bank insured the loans. I have not heard from anything from Citi about these loans(No CA's, no letters, nothing). My SOL is 7 years and they are due off my credit report in 2017. I am afraid to contact Citi on this loan for fear of shaking the beehive. Any thoughts?
I have also sent some goodwill letters out. Has anyone had anyluck with GW's/ Disputes from Citi now that they are out of the SL business?
Thanks in advance, for any advice
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.