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Student loans are killing my credit score - unique circumstances - please help

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Anonymous
Not applicable

Student loans are killing my credit score - unique circumstances - please help

Hello everyone. This marks my entry into the Fico forums.

 

I'm 26 years old, and I am one of the most fiscally responsible people I know. I've been accused by several people of being thrifty (cheap), and while I disagree, I do know how to handle money very efficiently.

 

Unfortunately, thus far in my life, I have not handled my credit nearly as well as I could have.

 

So I have 7 student loans that show up as negative accounts on my credit reports.

 

And I don't pay for any of them. I had the very good fortune of not having to bear the fiscal responsibility of my college education. My parents were good to me.

 

But they moved a lot when I was in college. And in late 2007 the bills for these loans never came. Address changes didn't get processed fast enough.

 

My parents paid off what they thought they had been paying - an estimate. But they were off by 1 or 2 dollars on all 7 accounts.

 

So, this went on for 60 days. And my credit score now shows 7 accounts with 60 days delinquency because of 1 or 2 dollars.

 

Ugh. Beyond frustrating. Obviously everything has been paid in good standing ever since. But, I'm still stuck in a bad spot.

 

I have never and will never spend 1 cent on any of these loans, but they've hurt me for 3 years, and will continue to for many more.

 

Is there anything that I can do to get this off my credit as a negative hit?

 

Any help is tremendously appreciated.

Message 1 of 7
6 REPLIES 6
laz98
Senior Contributor

Re: Student loans are killing my credit score - unique circumstances - please help

are these federal loans or private loans?

 

you can try sending goodwill letters, it can't hurt.  the worst they can say is no, right?

Message 2 of 7
Anonymous
Not applicable

Re: Student loans are killing my credit score - unique circumstances - please help

They are federal loans. And you're suggesting I send letters to the lenders themselves correct?

Message 3 of 7
laz98
Senior Contributor

Re: Student loans are killing my credit score - unique circumstances - please help

yes, that's correct.  you might get several no's before you get a yes but it's worth a shot!  good luck!

Message 4 of 7
Anonymous
Not applicable

Re: Student loans are killing my credit score - unique circumstances - please help

I decided to try disputing with the CBs first. If that doesn't work, I will contact the lenders directly.
Message 5 of 7
Chris123nTx
Established Contributor

Re: Student loans are killing my credit score - unique circumstances - please help

Wow you are something for your parents to be proud of. As the most fiscally responsible person you know, perhaps you could take a few life lessons and help your parents pay for the dang loans. You did get an education of some kind I would think, so put it to work stop being a selfish idiot and help your parents. Or, of course, you can pretend it is not your problem. You are on these loans 100 per ent just like they are. No one will take your name off of them becuase you don't like it. Sorry I don't mean to sound so mean, but dang dude grow up!
Message 6 of 7
MarineVietVet
Moderator Emeritus

Re: Student loans are killing my credit score - unique circumstances - please help

We all need to remember to be friendly, supportive, and respectful.

Message 7 of 7
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