I had a collection for a defulted private student loan through Arizona State University. Post BK discharge (10/13) ASU told me they thought the loan had been discharged (which I was skeptical about), so I disputed with EX who were the only CRA showing the account. EX confirmed it was a valid collection. I contacted ASU, they again told me it wasn't their account "we don't do private loans," even though I knew they had processed the laon when I took it out. I contacted the CA, they of course demanded payment or arrangements right now, or "you refuse to pay." I said I'd call the next day.
I finally got ahold of an account manager at ASU who affirmed that I indeed had a private loan from the, being serviced by ECSI. I told him I desperately wanted to get this monkey off my back, and that I could make a small lump some payment if they'd be willing to pull the loan back out of collections. They agreed. I made the payment the following day, yesterday, and received an email last night that my account was out of default status.
This is better, not great. However, the email also stated that after 9 on time payments...basically it was a rehab and they would remove the lates.
I have two questions: One, do you think merely getting the account out of CA and having it reported in good standing will help my score?
Second, EX has changed two other collections to IIB "discharged on 02/2014" even thought my discharge was in 10/2013. I think if that's the case, those two accounts shouldn't be showing the lates for the past 5 months. And advice?
Starting Score 12/2013: 547 EQ; 529 EX; 540 TU
I can vouch for the 1st question.
I had 70k in st loans rehabed from 3 agencies (KHEAA, ECMC, and Performant). All completed the rehab program Feb/Mar and now sold to Sallie and Great Lakes.
My score in Jan was 486. As of today, it's 500 with one of the 3 still needing to update on the report.
I only filed BK7 on Feb 5 2014. So that had nothing to do with the score. The jump was simply from having 70k in loans report current.
1. Yes.
2. I think you may be reading it wrong. One line should be "Included in Bankruptcy" another line should be the date that the record was last updated. That would mean that 02/2014 would make sense. I've never seen "Discharged in Bankruptcy on X date" before, and I've looked @ a ton of CRs.
If you can, post a screenshot of the line item.
-SM
Starting Score: ~470 preBK(8/2010)
@SoulMaster wrote:1. Yes.
@2. I think you may be reading it wrong. One line should be "Included in Bankruptcy" another line should be the date that the record was last updated. That would mean that 02/2014 would make sense. I've never seen "Discharged in Bankruptcy on X date" before, and I've looked @ a ton of CRs.
If you can, post a screenshot of the line item.
-SM
Correct, it says "discharged in Bankruptcy" for status. The update says, "This item was updated from our processing of your dispute in Feb 2014." but it also shows that the account has been in collection for 5 months since the BK7. Shouldn't they change for "collection" status back to Oct 2013, date of discharge? Maybe it doesn't matter, but it seems like those months are dinging me post BK7. 
And this same this occuring on two accounts.
Talk to an FCRA attorney. If they want to charge you, you have no case. They may also tell you you have no case. If you're right, they'll do all their work for free, and get you some free $.
Cheers,
-SM
Ok, so I've finally got EX straightened out and reporting everything correctly. All IIB's are correct. The three collections are correct: 2 reporting IIB the thrid taken back by OC.
To my shock, the OC that called the account back from CA was a University (private loan through them). The deal with them was I paid $1k upfront, and they would recall the collection. To my surprise, not only did they recall it, but they deleted the previous lates so it reports "OK" from the time it came out of deferment! AND there is nothing about past collections on my report.
EX now reports a 631 ( a 57 point jump), which is in the ballpark with other CRA's. The 631 is a "plus" score from EXperion.
So, I still want a third CC. I burned CapOne, but am now 5 mos, 2 weeks post-discharge. I keep doing the pre-qual with capital one and get nothing. Should I go ahead and try for Quicksilver? Wait another month? Any advice. BTW, I did NOT go with CreditOne due to the charges, and the fact that I have a CC from my CU with 1K CL as well as several student loans being paid on time. I hink I need a third CC, however, to balance the TLs.