topic Re: Sallie Mae Loan in Rebuilding Your Credit

Sallie Mae Loan

Anonymous — Tue, 21 Jul 2015 17:01:47 GMT

Hey Guys. So I'm on this journey to make it into the 800+ club and I belive this is going to be a major road block in my journey. Any suggestions/thoughts are much welcomed.

So years ago when I was trying to make something of myself, I took a loan through Sallie Mae to go back to school. Being young and dumb, I fell behind on payments and then got to the point where I couldn't pay anything on it. I believe it was charged off and closed. Below are the details I'm pulling from CCT. Will this ever fall off? What can I do?

Transunion -

- Installment Loan

- 199 Months

- Date Opened: 10/09/2001

- Status - Closed

- Payment Status - Paid

- Payment Details: Paid or paying as agreed

- Status Updated: 01/31/2007

Equifax (showing the same information as Transunion)

Experian -

- Installment Loan

- 199 Months

- Date Opened: 10/01/2001

- Status Closed

- Payment Status: Unknown

- Payment Details: Account Transfered to another office

- Status Updated: 02/01/2007

Re: Sallie Mae Loan

Anonymous — Tue, 21 Jul 2015 20:09:29 GMT

Bump

If this follows the standard of 7 - 7 1/2 years, shouldn't it have fallen off the three reports by now?

Re: Sallie Mae Loan

Anonymous — Tue, 21 Jul 2015 22:22:28 GMT

@Anonymous wrote:
Bump

If this follows the standard of 7 - 7 1/2 years, shouldn't it have fallen off the three reports by now?

I believe negative information falls off the 7 year mark,, positive tradelines stay on longer. Your original post didn't really look like anything negative was being reported, did I miss something?

Re: Sallie Mae Loan

RobertEG — Tue, 21 Jul 2015 22:24:42 GMT

Was the loan ensured or guaranteed by the U.S. government?

If so, the normal exclusion periods do not apply.

Re: Sallie Mae Loan

Anonymous — Tue, 21 Jul 2015 22:26:59 GMT

Those do not appear to be derogatory negative accounts....

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 14:10:07 GMT

It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 15:29:03 GMT

@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?

The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 15:53:34 GMT

@Anonymous wrote:
@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?
The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.

That's the thing though, the loan wasn't "paid as agreed". I believe they sold the debt to a third party. Which makes me cautious about poking around. This one make me anxious.

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 16:54:55 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?
The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.
That's the thing though, the loan wasn't "paid as agreed". I believe they sold the debt to a third party. Which makes me cautious about poking around. This one make me anxious.

Well, regardless of any payment on your part - it has been reported "paid as agreed" and the 7 year limit applies. TU and EQ should have excluded this item already. The relevant statutes are 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3).

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 19:49:21 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?
The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.
That's the thing though, the loan wasn't "paid as agreed". I believe they sold the debt to a third party. Which makes me cautious about poking around. This one make me anxious.
Well, regardless of any payment on your part - it has been reported "paid as agreed" and the 7 year limit applies. TU and EQ should have excluded this item already. The relevant statutes are 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3).

Well, after reading that I feel a little more at ease. How should I go about getting these tradelines deleted off all three reports? Send a certified letter? Should I call each CRA?

Re: Sallie Mae Loan

Anonymous — Wed, 22 Jul 2015 21:00:28 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?
The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.
That's the thing though, the loan wasn't "paid as agreed". I believe they sold the debt to a third party. Which makes me cautious about poking around. This one make me anxious.
Well, regardless of any payment on your part - it has been reported "paid as agreed" and the 7 year limit applies. TU and EQ should have excluded this item already. The relevant statutes are 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3).

Well, after reading that I feel a little more at ease. How should I go about getting these tradelines deleted off all three reports? Send a certified letter? Should I call each CRA?

I would suggest calling.

Re: Sallie Mae Loan

Anonymous — Thu, 23 Jul 2015 19:36:55 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
It's been so long I don't remember if it was a government back loan. I want to say it wasn't but I can't be 100% sure.

Through CCT, it is showing all the missed/late payments when the loan was active. At this point, I'm affraid to wake a sleeping giant if I start poking it with removal letters. Do you think it's in my best interest to let it be and let it fall off whenever it falls off?
The first one appears to be paid. I would call the CRA's and request that since it was paid as agreed, any derogatory payment history older than 7 years should be excluded from your reports. I know SL's have different exclusion periods, and I do not know the specifics, but they may go for that.

I would dispute the status on the second item you listed, tell them it should be showing paid as agreed and any derogatory payment history older than 7 years should be excluded.
That's the thing though, the loan wasn't "paid as agreed". I believe they sold the debt to a third party. Which makes me cautious about poking around. This one make me anxious.
Well, regardless of any payment on your part - it has been reported "paid as agreed" and the 7 year limit applies. TU and EQ should have excluded this item already. The relevant statutes are 20 U.S.C. 1080a(f) and 20 U.S.C. 1087cc(c)(3).

Well, after reading that I feel a little more at ease. How should I go about getting these tradelines deleted off all three reports? Send a certified letter? Should I call each CRA?
I would suggest calling.

Well I called and the rep told me it's not going to fall off until February of 2017. Student Loan = 10 years.

I guess that's that