Help with Chase Student Loan Removal.

[Anonymous]

I sent out certified, notary stamped varification letters to various collection agencies including one letter to Chase student loans. Now my goal is only to get this removed off my credit report, I do have a loan with them and it shows several 180 days late on my report.

A few weeks later:

I just got a response back from them and they included a copy of the Federal Consolidation Loan Application and Promissory Note that was dated back on 12/13/2005, almost 11 years ago. It’s an electronic letter with information about me and my previous address that was completed online, nowhere does it have an actual signature of mine on it. It basically looks like a loan application done on a computer by anyone.

Now on my credit report Chase is a negative account 2 times. Chase transferred my account to ACS/JP Morgan Chase for servicing back in 2006. So I got both the original Chase and now ACS showing on all three of my reports as negative. I have never made any payments towards them, ACS shows my first late at of 08/2014, but I am sure I had some late payment status with them back in 2006 or 2007 after it was transferred from Chase, but it’s not showing. So basically ACS received my loan from Chase in 2006 and never received any payments from me, but they state on my credit report that my first late payment was back in 2014, so from 2006 to 2014 which is 8 years they never once report anything late? I don’t believe them I think they are falsely putting in the wrong first date of late payment to avoid the 7 year removal.

So basically I got a letter from them without any signatures of mine stating that they validated this loan. Like I said earlier it’s only a copy of an application that was done on a computer without any signature of mine.

What should I do next please help.

[SCF]

Is this actually your loan?  What are you trying to correct on your report?

If you think the loan defaulted earlier than they are reporting, have you asked for a complete accounting of the loan?  They should be able to produce statements back to the open date of the loan showing when any late fees were charged, interest capitalized, and when it went into default.  Is there any possibility that the loan was in deferment or forbearance for some of the time period in question?  That would explain why there were no late payments reported.

If you had any individual late payments (maybe in-between deferments?) that are more than 7 years old, they would have aged off by now as well.

[Anonymous]

Yes this is actually my loan, I am just trying to get it removed of my credit or have the late payments removed, and it’s affecting my credit as late payments. I did have it in forbearance/deferment a few times in the past, but I do remember there were late payments posted back in 06, 07, 08, but there not showing. As of now the loan is in deferment because I am in school. I thought if it showed a late payment past the 7 year mark I could have it removed from my credit. The only thing that was changed on it since I have sent them letters is the status states “Paying on Time”. I just want it off my credit or showing as a positive without any late payments.

[SCF]

If the loan is still open it should still be on your credit report - it should be reporting accurately in terms of status, amount, payment history, and individual late payments shouldn't stay on your report longer than 7-7.5 years after the date of the late.

Are some of the late payments that are currently reporting incorrectly?

It sucks that this loan is dragging your credit down, but if it's reporting accurately, there is no way to make it disappear from your report.  You can ask the lender for a goodwill adjustment to remove some or all of the lates, but they don't have to remove accurate information.  If you continue to keep your loan in deferment and then make payments on-time when they are due, you'll have a clean tradeline 7 years after your last late occured.