09-14-2012 08:07 AM
I'm having an issues with my scheduled payment amount showing on my credit report. This is causing my debt to income ratio to show up too high. It's showing my payments as $733 on one loan and $630 on another loan when actually my payments right now are 0 because of a deferment and have only been like $12 based on my income. I contacted the student loan folks and they say it's up to the credit bureau to decide what information they want to post. I even received a letter from direct student loans stating I have no payment. I am on my second dispute with Transunion about this issues and the first dispute they replied that the information was accurate. I have been turned down for 2 credit cards (Wells Fargo and Citi) and an account with DELL preferred because of debt to income ratio being too high. I'm just pissed because I have worked my butt off to bring my score from a 595 to a 702 present date. Somebody Help!
09-16-2012 11:47 PM
I had this happen to me. I had to pull the loans out of forbearance, upate the income-based payment, then put it back into forbearance. Once that was done, they started reporting the correct payment amount.
09-17-2012 05:55 AM
Thank you so much, I haven't been able to get the Credit Bureau (dispute) or the Student Loan folks to help me with this. Student Loan people know my payment will never be $1200 based on my income but they still wouldn't change. I've turned in my income in the past. I would think that creditors would also be able to see it's in deferment status. Wells Fargo initially told me it was because of my debt to income and then they reconsidered after I told them about the deferment status. They reconsidered and said they new it was in deferment but didn't matter because of the debt to income ratio. The worst part of it is that I've had a mortgage with them for over four years so you'd think they would be the first ones to give me credit. I would love to move my mortgage from them without refinancing.
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