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Buying off Bad Credit

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Anonymous
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Buying off Bad Credit

How does one go about buying off their bad debt.  I have 4 student loan bad marks on my credit where I was more tham 120 days late back in 2002.  It has long since been paid off and I have never been late with anything since, but I would like those off my report and I don't want to wait 2 more years.  Is there a way to buy these bad marks off my credit reports
Message 1 of 5
4 REPLIES 4
Anonymous
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Student loan lates MUST be reported. It's a requirement o...

Student loan lates MUST be reported. It's a requirement of the higher education act, so it's not like other accounts. Sorry, you're stuck with it.

Been there, done that.
Message 2 of 5
Anonymous
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Ditto and unfortunately at the time I wasn't monitoring m...

Ditto and unfortunately at the time I wasn't monitoring my score.  I thought I had two loans in deferment one was reporting deferredm the other delinquent.  Never got a notice and was told thaty absolutely would not correct it.
Message 3 of 5
Anonymous
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Buying Off Bad Credit

Thanks for the info. I was just hoping, but at least now I know I just have to wait those two years. It's such a shame though really, that the student loan credit is soooo strict. That loan was supposed to be in deferrment, and when I missed the first payment, let alone all the other payments I was never notified. I just happened to go to the loan website to check to see the exact amount I owed and noticed it had been marked with missed payments. When I called them told them that I was supposed to be in deferrment, they said that it wasn't put into deferrment and that there was nothing they could do about it now. Pretty much they said, "Too Bad for Me". Not very nice considering that they ruined my credit for 7 years on their mistake and they don't care. There has to be a better and more accountable system.
Message 4 of 5
Anonymous
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The bad part about my situation was that it was reporting...

The bad part about my situation was that it was reporting as paid as agreed on bopoth Eq and TU it was only when I realized soemthing was wrong on Exp and disputed it did I get troube.  They promptly updated it to report negatively on all three bureaus.Smiley Mad
Message 5 of 5
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