Re: Specific law forbidding removal of federal loans lates
11-03-2012 04:45 PM
Actually, FCRA Section 623(a)2 says that retroactive deferments acknowledge a time period when no payments were due. Therefore no payment was ever due and any negative credit history must be removed. Since the statute says that reports must be "updated" as well as corrected.
The FTC's lawyers and DoE counsel confirmed this to me verbally.
That would mean CitiBank's who previously owned The Student Loan Corporation, now owned by Discover Student Loans is a criminal orgination. I believe we all know this.
I would like to challenge that statute.....does it make reference to the start date? Meaning, the day you enter class or the day your scheduled to attend? So, what The Student Loan Corporation was doing was taking the defermant time as the day the student starts classs not the date your excepted into school and have a date to start in hand. Understand?