12-29-2012 06:47 AM
Good Morning- I am a new member and have a few questions I'll like to get some help with. My husband and I are in the process of purchasing a home and found out Direct Loan was double report an account that was consolidated and went through the rehabilitation program. I contacted all three CRA's and had the items removed from my credit file. This all happened in a matter of days I was so surprise. I think I my have found other discrepancies but do not want to dispute it until after I go back to the mortgage broker to get our pre approval.....Otherwise, I wait until after we close. We were told this was the only thing preventing us from getting a pre approval. The LO did not want to sent it to the underwriter like this. Here are our scores before the removal of items from my file. EX: 657, TU: 649, and EQ: 689....here are my scores now- 667, 669, 688. Here is my husband scores with a bankruptcy ch. 7 discharged in Feb 2007. Our income is great and our DTI ratio. Now that I've given you'll so background information let me ask about these other discrepancies. The loans in question is Student Loan Guarantee Foundation of AR and its only reporting on TU and EQ. This account went to Pioneer collection agency back in 2008 and I have document to support that. How can they reage the account with the date of they notified me the account was considered satified as a result of the consolidation???? They no longer had the account anymore. Pioneer collection agency is not reported on any of my the CRA's file. The letter from SLGF of Arkansas is dated June 2011 stating my defaulted loan previous serviced by Sallie Mae on behalf of the SLGF of Arkansas is considered satisfied. I just can't believe the law allow this type of practice....I understand if they aren't being paid it should be reported but how do they change the original FDOD? Also, since this was a servicing agency of Sallie Mae.....Sallie Mae is also reporting a new date. Both SLGF of Arkansas and Sallie Mae is reporting this will fall of in 2017. This seems so unfair. Can't I dispute this to have them removed off in 2015 instead of 2017. The Sallie Mae is reporting my FDOD is in April 2008, but I have documents that supports I was under forbearance during that period. If I challenge that as my FDOD then I think it could come off quicker. The next dates August 2009 then a NR date in September 2009 then back to ok. Can someone help sort this out for me.....Do I have a valid issue to argue my FDOD to reflect what was originally reported especially considering the didn't report it correctly and I went through the rehabilitation program with Prioneer and all the doc shows I still defaulted on the loan???? Note: I have no plans to dispute this at this time until it causes us not to get a pre-approval. I apologize up front it all this is confusing because it confusing to me and I have the doc in from of me :-) Thanks a bunch!
12-29-2012 06:58 AM
Oops I missed my husband scores EQ: 703, TU: 690, and EX: 670 sorry about that :-)
12-29-2012 01:41 PM
I've looked my credit report over and over. So I found out Sallie Mae nor SLG of Arkansas is reporting a default. Sadly, it another one.
Sallie Mae is reporting (3) missed payments in 2008, (1) in 2009, (2) in 2010 and (1) in 2011. I have letters supporting from Sallie Mae stating my request for forbearance was approved during those periods. How much are those missed payments or affecting my FICO score?
Now on to the SLG which is a servers of Sallie Mae opened up these accounts again during the time I consolidated all my loans. I started the process on Presidents Day, 2/21/2011 and so I contacted Sallie Mae for a paid off amount and to extend my forbearance to cover the for processing period for my consolidated loans. I received the letter from dated 2/21/2011 letting me know my forbearance was approved and information regarding my options to participate in the FFELP program. How can SLG re-open this account??? On the TU report it show's the account was opened on 2/11/2011 and closed 4/30/2011. Seems to me they retroactive the delinquency period to account to account for the 120 days. On the EQ they do reflect a date the account was opened. However, on this report they reflect the DOFD on 2/2010. How funny when I look at the Sallie Mae entry for that month they reflect ND....No data for this time period. 4/2011 as date major delinquency first report.....How can I go about having these items deleted....is it possible. These items are scheduled to remain on my credit report until 2017.
Please help a newbie out....Thanks in advance!
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO