TFC

[Caitt]

Hello
Yesterday I called TFC for a student loan to try to pay on it because I would like it to show as paying instead of closed and unpaid. I was told to contact the school because it's closed on their end. How true is this?

[gdale6]

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@Caitt wrote:
Hello
Yesterday I called TFC for a student loan to try to pay on it because I would like it to show as paying instead of closed and unpaid. I was told to contact the school because it's closed on their end. How true is this?

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If the account has already been COed then it can never again be a good postive paying account if its just in late status then paying all the minimum due would return it to current pay status and the previous lates will be removed as each of them hits the 7 year mark. Sometimes one can rehab SLs

[Caitt]

Thanks
I actually called the OC. She stated that what TFC told me was incorrect, that they would not send my account back to them. I had to pay them in full, and they would call TFC to remove it. She also stated that after I did not pay TFC in 2010 they sent it to a CA and they sent it back to the school (??). And I had to pay them in order for TFC to delete it off my credit.
Does that sound about right?

[Caitt]

***TFC also told me that I would have to call the school for them to send it back to TFC.

[SCF]

It is certainly possible for a collection agency or the original lender (or both if they are willing to work together, which it sounds like they are in this case) to agree to delete a negative item from your report in exchange for payment of the account.  This is commonly called pay-for-delete or PFD on these forums.  The best thing to do is get an agreement in writing before you make a payment that outlines exactly what you wlll pay, and what changes to your credit reporting will be made in exchange.

[Caitt]

Thanks so much. Have you ever heard of doing a payment plan to delete?