HELP! Score dropped 80+ pts. due to Fed. Student loans mistake!
10-03-2012 11:54 PM
After working so hard for the past couple years to rebuild my credit and FINALLY having scores ranging from 640-717 consistently for the past year and having 100% ON TIME PAYMENTS since 2008, I am DEVASTATED at what happened to my credit score, and am hoping there is a way to correct it because it will take YEARS to get my scores back up and it is just not fair!
Here is the situation....I have a lot of federal student loans for my schooling that I never consolidated because I am still in school and was told not to since I'm still in school and/or always qualified for forbearance if not enrolled in a particular semester. In August, I received a notification from Credit Karma stating that I have 15 accounts now being reported 90 days late and my score dropped OVER 80 POINTS!!!! I never received anything from the Loan Dept., and immediately called them to get it resolved. I did, and am "current" on ALL student loans now, however the damage has been done. My score dropped to 578 in Aug. and now is up to 591 in Sept. but I want it back to where it was!!! THIS IS NOT FAIR! Because of so many small loans which shows as individual accounts, my score is getting affected 15x what it should have been and for something that I was not even aware was due and immediately cleared up once I found out!
Is there anything I can do to fix my credit score? It will take years for this negative info to go away...there went all my hard work, what a joke! I'm so mad and discouraged! On my credit report it states that all those accounts will be in positive status by 4/2017....they are current now, this is just ridiculous!
ANY AND ALL SUGGESTIONS AND GUIDANCE regarding this matter is GREATLY APPRECIATED!!!! THANK YOU!!
Starting Score: 6??
Current Score: Walmart TU 640-7/12, Experian 717-3/12
Goal Score: 720+
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