09-24-2012 05:30 AM
So, I applied for a Discover Card, and was denied due to a (Closed as reported by the CRAs) student loan that to them shows current status states: 120 Days Past Due.
I have another closed account, that had a few lates, but still shows pays as agreed when it closed...
Well, according to the payment history, that isn't accurate, I assume, because it's being paid by the government(insured)
Is this reporting accurately or can I dispute this? Anyway to fix this before 2014, when it falls off?
09-24-2012 08:24 AM
09-24-2012 08:28 AM
My bad, hopefully this is moved to the rebuilding your credit forum
Yea..Not really concerned for scoring purposes..Just approval/underwriting purposes..
09-24-2012 08:34 AM
Just because it is government backed does not mean you will have good payment history if you miss a payment. I don't see anything wrong with it. In fact is that 180 days late?
09-24-2012 08:42 AM
But, they've received payments since Feb 2009...
See, I'm basing this on another account that is closed, had lates, but states pays as agreed...
09-24-2012 08:48 AM - edited 09-24-2012 08:50 AM
Think of it as cosigner. Should I default, lender will go after my cosigner, but will still report me late because I didn't fulfill my obligation to repay the debt.
I am not sure how government insured loan works, but I believe government only steps in and foot the bill when it is charged off?
09-24-2012 08:50 AM
Both pics are from student Loans...the first one is Sallie Mae, the second one is Nelnet...
09-24-2012 06:46 PM
A difference btween the twe screenshots it that the second one says refinacned. Sounds like the loan was tranasferred somewhere lease. The first one is goverment claim which is not a paid as agreed. If it was paid as agreed there would no need for the claim. The account is reported correctly Let it fall off or pay the amount owed back
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.