topic Correcting Credit Rport in Rebuilding Your Credit

Correcting Credit Rport

Anonymous — Thu, 06 Oct 2011 10:39:31 GMT

Hi,

I have/had a private student loan that, while I was unemployed, went into default. It was through The Student Loan People. They turned over the loans to NCO Financial for collection. I worked out a deal with NCO, after I was emplyed agian, where I pay $361 a month for five years( or 60 months) and it will be paid off. I am now at 38 months into paying it off with no missed payments. My question is twofold. First, on my credit report NCO does not show I am paying at all on this debt......should they be showing my payments, and reduction of the debt? How would I get this corrected, if it should be corrected?

Second, this debt shows up twice with a listing for The Student Loan People, and then NCO financial. Should it be shown twice, and if not, how should I go about getting this corrected?

Thanks for any help.

Re: Correcting Credit Rport

llecs — Thu, 06 Oct 2011 13:18:34 GMT

Do both the SL tradeline and NCO's tradeline show a balance? If the SL shows a balance, is their balance correct?

Do you have the agreement in writing?

Re: Correcting Credit Rport

Anonymous — Mon, 10 Oct 2011 03:16:19 GMT

@llecs wrote:
Do both the SL tradeline and NCO's tradeline show a balance? If the SL shows a balance, is their balance correct?

Do you have the agreement in writing?

_________________________________________________________________________________________________________________________________

Thanks for replying.

They both show a balance, however, NCO's is correct and has gone down. The SL line hans't decreased at all despite having paid it down to roughly $9,700 from a high of $32, 149. I don't have a problem with the NCO line showing up because I do owe and am paying it back, however, I do mind it showing twice and on one of them being completely wrong.

I don't have the agreement in writing, dumb of me, so I'm going to see if I can have them send it to me in writing. So, what do you think my best course of action would be?

Thanks in advance....sorry it took me a couple of days to respond.

Re: Correcting Credit Rport

Anonymous — Mon, 10 Oct 2011 12:32:00 GMT

Was the defaulted debt sold to another agency. If so, then the some debt should show as a zero balance. If that is the case then dispute the balance of the sold debt.

Re: Correcting Credit Rport

bruiseviolet — Mon, 10 Oct 2011 18:05:51 GMT

yup- if it was sold to NCO- the original should show reporting a O balance- if you settle it usually will say that you settled for XXX amount. But it should report a zero balance, since you no longer owe them any money- and then NCO would report the balance you owe them.

Re: Correcting Credit Rport

Anonymous — Mon, 10 Oct 2011 19:47:16 GMT

I goin through a dispute right now due to that. Two of my sold accounts are still showing a balance counting against revolving debt, which in turn hurts utilization.