@username09 wrote:
About 2 years ago now I paid off all of my debt and after doing so my credit score has slowly crept up to a respectable number of 700. I monitor my credit regularly as even thought I have zero debt I love watching what my hard work has done and am glad when I see it creeping upward every month or so. I'm also very aware of my score as I am looking at purchasing my first home very soon! (currently looking for the right one)...
About a month ago I received a credit alert and found that my score had dropped drastically to 624, just over 75 points! I checked over my score and found two 'SLC Student Loan Trust' accounts that were delinquent. I called the creditor to find that these were two student loans which my father had opened 5+ years ago using my social security number. I graduated college in January of 2005 so I'm guessing that he re-financed my original student loans with these. Either way, recently my father is having his own credit issues (he is filing for bankrupcy) and now these two student loan accounts have hurt my score considerably. I was never aware of these two accounts at all as me and my father are not on very good terms and these were being mailed to his po box which is 50+ miles away from me. I paid an ammount on these two loans just to bring them current so as to stop continuos negative damage. I just called equifax and started an investigation but from my conversation with them it didn't seem like this was going to really do anything for me at all. What should I do??? I did not open these two accounts and they have hurt my score!
I'm confused about what you've written. If these accounts are truly 5 years old and were opened with your name and SSN, and you have been monitoring your credit regularly, then why haven't these appeared on your credit report until now? This doesn't make sense to me.
You also said that you paid off all your debt two years ago. Does this include your student loan debt? Were you paying on the student loans that you originally had, before your father surreptitiously refinanced them? But if your loans were refinanced, then you shouldn't have been paying the original creditors (the ones who held your debt prior to refinancing), and you shouldn't have been receiving bills. And if you weren't paying the original creditors, and you weren't aware of the refinanced student loans, then it seems like that you couldn't have been paying your student loan debt during these past few years.
There seems to be some missing pieces to the puzzle here. You really need to speak to your father about what has been going on. At this point, he doesn't seem to be helping you at all in your mortgage quest, if he's committed identity theft that has affected your credit standing. Recent lates on any account can really torpedo one's chances at mortgage approval. Also, it sounds like that the only help that your father is giving you right now is a referral to a loan officer. You can get referrals from other people, not just your father.
