CR Dispute on a 'Now Defunct' company = Automatic Win?

[ninjacookies]

Congrats! How long did it take Ex to report back its findings?  I checked my Ex today, 30 days after my online dispute, and it told me the following:

Status:
Claim filed with government.    

Status Details:
This account is scheduled to continue on record until Oct 2015.
This item was updated from our processing of your dispute in Jun 2011.

I don't know if this means the item is still in the process of being disputed, or if somehow Xpress Loans got in tough with them somehow and verified it.  Doesn't make sense though, as all Xpress Loan servicing entries got dropped from my Equifax report...

[GB44]

It took exactly 30 days for mine to be deleted. The line was removed by EX.

By the way, Congrats on all of your recent sucess!

[ninjacookies]

Thanks again for all the kind words!

Well, unfortunately, looks like I spoke too soon, as I didn't fare as well as you.

Got the results back from Experian today, and, unlike Equifax, everything was deleted EXCEPT for the XLS records.    I don't know how they were able to substantiate the accuracy/legitimacy of this account, but the status is now 'updated' with the following status:

Status Details:
This account is scheduled to continue on record until Oct 2015.
This item was updated from our processing of your dispute in Jun 2011

Creditor's Statement:
Student loan permanently assigned to government.

Ugh.  Feel so sick.  I filed another online dispute with Experian today, this time asking for the 'names, numbers, address' of those who were contacted.  It seems as though somehow, even though the creditor is now defunct, somehow they forwarded the information to the new creditor (AES student loans). 

Is this legitimate? Or do I have a for sure fire way to get rid of this?

Thanks again for all your help, I'm really hoping to get back to a clean slate as I'm trying to get into a new place by the end of the year

[ninjacookies]

Just wanted to thank everyone again for their help on this! Got a letter from transunion and experian that the XLS loans were deleted from my records!  Looks like second time was a charm, or perhaps my request for methods used also helped.  Hopefully this may give some others inspiration when it comes to companies that are no longer in business.

So far I've been able to get 5 negative accounts deleted from all 3 CB's, and only have one left....have also paid down my credit card to under 10% util 3 months ago, really excited to see what my score is now.  Rebuilding credit is addicting!

[Booner72]

Hi Ninjacookies - do you still owe any money on those student loans that are backed by the government?  Are they in default?  I'm just asking bc even if they are gone from your reports, there is a way that the lender will check for any defaulted government money....off the top of my head I can't remember the program they use or whatever it's called....someone will tho.

[ninjacookies]

Hi Booner,

  Appreciate the reply, though I've never heard of such a thing.  Regarding the loan, it was owned by XLS...then they went under...and my loan was transfered to the government.  Yes, it did default, but I successfully completed the Student Loan Rehabilitation Program last year so the loans are now in good standing.  So I'm not sure if what you stated still applies to me?

[Booner72]

I just spent forever googling to find the aconym they use to find federal debt that's in default- dang it - someone come along here please!  It's like the chex systems that banks use......but bigger and .....worse......

Anyway, if your loans are rehabbed then I wouldn't worry about it.   I shouldn't have even brought it up - I don't want you to have any anxiety you don't need.

[ninjacookies]

Oh, not at all! I'm actually glad you brought it up...that's what this forum is for...for all of us to learn and share ideas

I shall look into this when I get some free time and hope for the best, and best of luck with your rebuilding as well

[MarineVietVet]

I have sent a PM to a member who is well versed in just about all things having to do with SL's and perhaps they'll be able to give an answer on this.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[kenred76]

Ninja, you and I are in a similar boat; I attended a "school" (more like sat in a room with a book in front of me, whilst the opinionated 'instructor' read one paragraph per day to us, then spent the other 3.5 hours talking politics), it went out of business for obvious reasons, and the default appeared on my CR. I disputed it and it was removed, and now I have a letter in front of me from the CA, threatening to take action. Im nervous about it reappearing on my CR, and hoping that if it does, another dispute will result in another deletion *fingers crossed*.