topic Re: Equifax refuses to update my student loan from my credit report in Student Loans

Equifax refuses to update my student loan from my credit report

Manhattanlad — Mon, 23 Oct 2023 08:50:40 GMT

My student loan has been paid off completely since August. I have contacted Equifax every month, they investigate and then the repost the full loan balance (of $390,000) as being due. The other 2 credit agencies list it as being paid off but Equifax continues to post it even after i've sent them documents from the agencies saying the loan is paid in full. Not sure what the next step is - is there somewhere you can go to dispute a credit reporting agency. Clearly they are just too lazy to actually investigate.

Re: Equifax refuses to update my student loan from my credit report

FireMedic1 — Mon, 23 Oct 2023 09:56:17 GMT

File a complaint with the CFPB and upload supporting documents.

https://www.consumerfinance.gov/complaint/

Re: Equifax refuses to update my student loan from my credit report

JoeRockhead — Mon, 23 Oct 2023 11:54:14 GMT

It's possible Equifax has you flagged (unjustly) for frivolous disputing, and are simply ignoring your disputes. As @FireMedic1 suggested, file a complaint with the CFPB. This will force them to take it seriously, more thoroughly investigate it, and respond.

Re: Equifax refuses to update my student loan from my credit report

Manhattanlad — Mon, 23 Oct 2023 12:19:37 GMT

Thank you. I spoke to Equifax and they say they cannot remove the amount listed until the Student Loan Lender (Mohella) responds to their request, which they have not done. They said it does not matter that I have provided written confirmation and statements, but the information must come from Mohella - and i guess they aren't in any rush to confirm I owe nothing. I will file a dispute as per your suggestion so this gets removed sooner than later.

Re: Equifax refuses to update my student loan from my credit report

JoeRockhead — Mon, 23 Oct 2023 12:33:26 GMT

@Manhattanlad I would do that, as it's possible your lender is also in violation of the FCRA. Let us know how you make out.

Re: Equifax refuses to update my student loan from my credit report

iowe — Mon, 23 Oct 2023 17:29:05 GMT

I'm in the same situation with Mohela. Most of my student loans were discharged on Sept 9. As of today, none of the credit bureaus have the current balance updated, and when I check my credit reports, Mohela hasn't sent them any updates since June. I'm giving them until November 10, and if no updates occur I'll be taking some action.

Re: Equifax refuses to update my student loan from my credit report

GZG — Mon, 23 Oct 2023 17:30:07 GMT

@iowe wrote:
I'm in the same situation with Mohela. Most of my student loans were discharged on Sept 9. As of today, none of the credit bureaus have the current balance updated, and when I check my credit reports, Mohela hasn't sent them any updates since June. I'm giving them until November 10, and if no updates occur I'll be taking some action.

when I called nelnet about asking them to report updated balances, they initiated a dispute from their end which ended up in them reporting the correct balance much sooner than they otherwise would have

Re: Equifax refuses to update my student loan from my credit report

Rebuild2019 — Mon, 23 Oct 2023 17:47:05 GMT

What's strange is that the other 2 credit agencies list it as being paid off, but EQ is not. Why would they have reported it to the other two agencies, but not EQ.

Sounds a little odd.

Re: Equifax refuses to update my student loan from my credit report

FireMedic1 — Mon, 23 Oct 2023 19:41:42 GMT

Its EQ. Thats why we say dont ask EQ for EE or dispute inaccurate items. They'll mess things. This is in the break room:

Re: Equifax refuses to update my student loan from my credit report

Manhattanlad — Wed, 25 Oct 2023 07:33:04 GMT

I put the dispute with Transunion and they fixed it immediately. I'd recommend putting a dispute on all three bureaus.Equifax is the only one who won't change it DESPITE all the statments i sent them.

Re: Equifax refuses to update my student loan from my credit report

Manhattanlad — Wed, 25 Oct 2023 07:35:34 GMT

My impression is that the other 2 agencies actually read my supporting documents and changed the information whereas Equifax has some kind of standing policy where they only respond if it's the lender who writes them? The others accepted my paperwork and, in the case of TransUnion, updated my report in 24 hours.

Re: Equifax refuses to update my student loan from my credit report

Klineact — Tue, 07 Nov 2023 21:39:23 GMT

I had an issue like this regarding a GMAC inquiry I didnt authorize. I had a letter from GMAC saying they would remove it and despite that, EQ refused to remove it saying the creditor responded it was valid. I spoke to the GM of the dealership who said there was no such response on their end. EQ just needs to be sued that is the only way you can get anywhere with them in some instances. I wasnt willing to do that over an inquiry but I will do it if they dont update my student loan balance!

Re: Equifax refuses to update my student loan from my credit report

Tburk1969 — Sun, 04 Feb 2024 04:01:18 GMT

Can we start a thread or community list of those of us who have had this issue. I've been fighting the same thing with the same bureau since Sept

Re: Equifax refuses to update my student loan from my credit report

Tburk1969 — Sun, 04 Feb 2024 04:03:04 GMT

I filed a complaint sent documentation and proof twice to Experian and Equifax and still no change

I wonder if we can sue them

Re: Equifax refuses to update my student loan from my credit report

LendMeTheLoot — Wed, 20 Mar 2024 10:50:10 GMT

File a complaint with the cfpb stating what's going on. They'll get it done for you.