I call this the "bait & switch" of the collection agencies. I was told that as well over the phone but the recent letter I received from the Department of Education states "Because you have rehabilitated this account, We have notified the national credit bureaus to delete the record of default from your credit record."
I mentioned it to a Dept. of Ed rep the other day and she said that wasn't the first time she heard borrowers telling her that the CAs sell people on updating the TLs to show paid never late. People that have had a TL wiped clean have usually been picked back up by their original lender, those that have been sold to others have had a mixed bag of results.
I haven't had my CRs updated yet but a couple of the active posters have and a number do have some issues in how they are reporting. If the loans you listed are rehabbed they should not show as a collections account, in default, or other negative identifier other than the late marks. I believe they should all be $0 of they are reporting under Dept Ed/Nelnet TLs separately. Try with a dispute through mail with copies of the documentation you have with notations of how you believe it should be reporting. I would include the prints from NSLDS that show what the balances are.
I also have the same issue with Equifax showing my FFEL loans that are paid and closed due to consolidation as a 120+ days late current status but reflecting a $0 balance and not reporting since the month they were paid off which doesn't make any kind of sense.
I have a question for you though since I was just picked up by Nelnet. On the tradeline when does it say it was opened?
Current Score: TU: 674 | EQ: 722 | EX: 717 | Last Inq. 2/16/15...Locked Up in The Garden
It looks like it is the DOE who is reporting the negatives.
When I completed rehab they deleted my negatives but they missed a few. When I called them they told me the same thing. To dispute them. I did that and they were all removed. It took the full 30 days. I think DOE just does not respond to the CRA thus at the end of 30 days they have to delete.
I think you will have good luck going this route.
It is Dept. of Ed that is reporting you late and in collections still.
Your report looks much like mine with multiple entries for the same loan. Since I just got picked up by Nelnet, they haven't started reporting yet.
@wevie wrote:
@Kathy4NU wrote:It looks like it is the DOE who is reporting the negatives.
When I completed rehab they deleted my negatives but they missed a few. When I called them they told me the same thing. To dispute them. I did that and they were all removed. It took the full 30 days. I think DOE just does not respond to the CRA thus at the end of 30 days they have to delete.
I think you will have good luck going this route.
Yes, I believe it IS the DOE reporting the negatives.
I'm going to call the DOE back tomorrow - hopefully they will have a working computer system this time.
I'm waiting on paper copies of my EQ and TU CRs. I did a dispute online with EX but I didn't put much information other than "Rehabbed Student Loan." I may have to follow up with a paper dispute.
TU is the big list, 8 tradelines showing $19,192.
EQ shows 5 tradelines totalling $7757
EX only shows 2 tradlines but totalling $12,689
I REALLY hope this is a painless operation and that it bumps my FICO consideraby.
You really do not need to wait for paper copies of your credit report. Just write the letters and include your DOB and SS number. You can state that you are disputing all the entries by DOE. I don't think you even have to tell them why you are disputing them. I simply wrote a letter, stated my SS number and DOB and said that information in my file reported by DOE is inaccurate. 30 days later it was all removed.
