topic Re: Charge off Question in Student Loans

Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:10:20 GMT

Simple question.. I guess I am just confused --

How can I get a CO removed / updated on the credit report ? No Collections Reporting. Just the original lender. I am willing to make a lump-sum payment. Not paid yet.

Re: Charge off Question

LS2982 — Fri, 28 Sep 2012 22:13:10 GMT

@agforfree5 wrote:
Simple question.. I guess I am just confused --

How can I get a CO removed / updated on the credit report ? No Collections Reporting. Just the original lender. I am willing to make a lump-sum payment. Not paid yet.

This would be better asnswered over in the rebuilding your credit forum.

How old is the debt?

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:13:49 GMT

This will probably end up being moved to the rebuilding forum... however; my experience is that you can write a letter requesting a settlement. At that time they will either accept or deny or counter offer. You can also offer a payment for deletion of the entire tradeline from your report. Again; the first step is to make contact with the creditor.

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:26:09 GMT

LS2982 -

The DOFD on this debt was April 2010.

Webhopper -

So it is not with collections yet but I am worried that they may be in the process of sending it to them.

So hypothetically -- If it does go to collections, do I still make the PFD arraignment with the Original lender or would I have to do it with Collections now? Who would be the one with the authority the remove the CHARGE OFF that is being reported currently by AES?

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:28:08 GMT

You contact the original lender. Don't let it go to collections. Call them now. Don't wait on this. Who is the lender?

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:29:00 GMT

@agforfree5 wrote:
LS2982 -

The DOFD on this debt was April 2010.

Webhopper -

So it is not with collections yet but I am worried that they may be in the process of sending it to them.
So hypothetically -- If it does go to collections, do I still make the PFD arraignment with the Original lender or would I have to do it with Collections now? Who would be the one with the authority the remove the CHARGE OFF that is being reported currently by AES?

Sorry, to clarify - Charge off that was reported by AES in 2010 not Currently

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:30:56 GMT

@webhopper wrote:
You contact the original lender. Don't let it go to collections. Call them now. Don't wait on this. Who is the lender?

Citizens Bank and AES handled the private loan.

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:31:13 GMT

Is this a private student loan?

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:32:09 GMT

@webhopper wrote:
Is this a private student loan?

Correct. I have the Lump-sum $ that needs to be paid. I just want to make sure I am paying to have the CO removed.

Re: Charge off Question

webhopper — Fri, 28 Sep 2012 22:34:15 GMT

Before you move forward with a settlement call and ask if they have a rehabilitation program which would remove negative reporting. if they do not; ask them to settle. I will flag your post and ask moderator's to move to the student loan forum; those guys know more about your options than I do. I assummed this was a credit card charge off..

Re: Charge off Question

agforfree5 — Fri, 28 Sep 2012 22:38:33 GMT

@webhopper wrote:
Before you move forward with a settlement call and ask if they have a rehabilitation program which would remove negative reporting. if they do not; ask them to settle. I will flag your post and ask moderator's to move to the student loan forum; those guys know more about your options than I do. I assummed this was a credit card charge off..

Already looked into the rehab program and it is not offered for Private Student Loans (otherwise that would have been the best option). Ok my apologies, I posted it on here because I usually get everything answered here. Thanks though.

Re: Charge off Question

ethan17debttackler — Mon, 14 Apr 2014 19:47:39 GMT

Hi I have a question along these same lines. About 6 years ago, I had a CO mark on a student loan and was "transferred/sold" to another lender. I still owe on that loan, but it is with another lender now with whom I am in good standing.

Can I request that CO be taken off my CR from the original lender?

Re: Charge off Question

SCF — Tue, 15 Apr 2014 01:18:43 GMT

@ethan17debttackler wrote:
Hi I have a question along these same lines. About 6 years ago, I had a CO mark on a student loan and was "transferred/sold" to another lender. I still owe on that loan, but it is with another lender now with whom I am in good standing.

Can I request that CO be taken off my CR from the original lender?

Is there anything inaccurate about their reporting? Are they still updating a negative status? Reporting a balance owed? If so, you should contact them and move to a dispute with the CRAs if needed to correct anything that isn't right.

If they are reporting everything correctly, then your best hope is to either wait for it to age off or write goodwill letters.

Re: Charge off Question

ethan17debttackler — Tue, 15 Apr 2014 03:24:39 GMT

It's pretty accurate, actually. May have to resort to a GW letter....or just wait. Thanks for advice.