topic Triple reporting student loan. in Rebuilding Your Credit

Triple reporting student loan.

Anonymous — Thu, 09 Oct 2008 00:00:48 GMT

Hi everyone,

I have a small student loan left over from 1998 that I have a mostly good history with. There were 3 instances that I went over 60 days (the most recent was in 2006). This is the only student loan I have now, and the payment is only $50/month. The account is only reported more than once on my EQ. Since most of the history is good, and it is my oldest account should I leave the 2 extra reportings alone or dispute them. The correct account is the only one showing up-to-date activity. The two other reportings show their most current status from 2001 and 2004.

Also, all of my CBRs show a charge off on an auto loan that I am going to dispute. It was a total loss and it was paid in full by my insurance agency 2 years ago. When I get this changed does anyone have any idea how many points it might raise my scores if any?

Thanks for your time.

Re: Triple reporting student loan.

cadavis0609 — Thu, 09 Oct 2008 01:36:45 GMT

All I can tell you about the auto loan is that you should see a point increase but its difficult to speculate the total amount. As for the student loans, are they showing negatives on all three reportings? Are they showing a balance? If they're showing a balance, then its probably affecting your utilization which means you need to have them removed.

Re: Triple reporting student loan.

Anonymous — Thu, 09 Oct 2008 02:35:41 GMT

Don't dispute your auto loan. Disputing is a last resort. I'd wait for an expert to give some input before taking any action just yet.

Triple reporting student loan.

Anonymous — Thu, 09 Oct 2008 17:29:16 GMT

The following is all of the information about the student loan on the CBR. I believe my original lender was bought out at one point by another company and that may account for at least one of the extra reportings.

Legitimate account :

Status as of Aug, 2008

Date opened Feb, 1998

Date of last activity Aug, 2008

Date closed Not Reported

Account number XXXXXXX6481

Loan type Not Reported

Largest past balance $2,694

Terms Not Reported

Account Type Installment

Account holder Individual

Scheduled payment amount $50

Descriptions

Student loan

No contact information provided by Equifax

Balance Current Status Past Due Amount

$1,292 Pays account as agreed Not Reported

Seven year payment history

30 days late 0 times

60 days late 3 times (Dec 2006, Jun 2006, Jan 2006)

90+ days late 0 times

double report (1) :

Status as of Jun, 2004

Date opened Feb, 1998

Date of last activity Jul, 2003

Date closed Not Reported

Account number XXXXXXX6481

Loan type Not Reported

Largest past balance $2,507

Terms Not Reported

Account Type Installment

Account holder Individual

Scheduled payment amount $50

Descriptions

Student loan - payment deferred

No contact information provided by Equifax

Balance Current Status Past Due Amount

$2,398 Pays account as agreed $0

Seven year payment history

30 days late 0 times

60 days late 1 time (Jun 2002)

90+ days late 0 times

double report (2) :

Status as of May, 2001

Date opened Feb, 1998

Date of last activity Jan, 2000

Date closed Not Reported

Account number XXXXXXX6481

Loan type Not Reported

Largest past balance $2,221

Terms Not Reported

Account Type Installment

Account holder Individual

Scheduled payment amount $50

Descriptions

None on Record

No contact information provided by Equifax

Balance Current Status Past Due Amount

Not Reported Pays account as agreed Not Reported

Seven year payment history

30 days late 0 times

60 days late 0 times

90+ days late 0 times

As for the auto loan, I have spoken to the OC, and they show the account paid in full, so why would I not dispute it showing a charge off?

Thanks

Re: Triple reporting student loan.

Anonymous — Thu, 09 Oct 2008 19:04:56 GMT

If you look at the dates for the lates that they've reported, it seems like it may not actually be a mistaken double reporting. I have severl SL on my CR and the account numbers are all virtually identical. However, they put a new entry onto my account every time they send a check to my school.

The second and third accounts listed probably should be left alone, since they are in good standing, and may help your history. You might want to try and send a GW letter to get them to drop you lates for you.

Re: Triple reporting student loan.

Anonymous — Fri, 10 Oct 2008 01:38:39 GMT

Have you ever had your student loans deferred? I had a student loan that was reported separately while it was in deferment. Once it came out the second account showed PIF $0 balance, 0 lates. It actually helps my score. That doesn't mean it's supposed to happen that way, of that Im not sure.