Dispute Does Nothing [Equifax!!!]

[Anonymous]

Looking for advice on my next step...

I have been working really hard to clean up a bad report for a while now. However, I cannot seem to tackle these student loan accounts. The OC was Nelnet, that went to default and paid in full to the US Dept Of Edu (they took the account over as collections). My Equifax report clearly states Nelnet was transferred & US Dept of Edu was purchased for collections. Nelnet is due to fall off my reports (EX & EQ) as of 1/2022. However the collections version of this account (held by US Dept of Edu) is dated to fall off 11/2022 (TU & EQ). I have disputed with  two  (TU & EQ) CBs that reflect the collections with an incorrect date,  twice and no change to correct the date of first delinquency to match the Nelnet reported data. Equifax went as far as to "file a complaint to escalate my dispute" which also did nothing. I called Dept of Edu and they said "we only have the information history since the account has been in our hands so according to our record the date of first delinquency is accurate". I called Nelnet to see if they can provide the additional history to US Dept. of Edu, their system doesn't allow them to force any additional info to the collections agency this late in the game. They can only uodate to the CBs but that's not needed since this account reporting correctly. I believe them as it's an odd request.
So... US Dept won't change the information due to ADMITTEDLY lack of information (their words not mine). My second formal dispute with the CBs, I used lack of information as one of my reasons thinking that must be the answer. The 2 CBs won't change the information unless it's a change requested by US Dept of Edu. BTW,  Equifax has it in clear black and white on the report these accounts are connected and not showing the same date! At least TU doesn't have all the details in front of them as they only list the collection/incorrect version. Experian only shows Nelnet which is correct so I am not disputing anything there.

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 I am stuck. I have already waited (nearly) the 7 years for this to fall off my reports and now this mix up is going to force me to wait almost 8 years instead (to be completely free of this mistake). What would be your next step here? Do I really need to just sit back and wait the extra 11 months since no one will help me? 

This is the only remaining proof of my bad financial decisions in my early 20's & also the one that has haunted me the longest! This will most certainly help my score and report, I realize it is old but also the only derog I have and I am so close to being free of it. 

[calyx]

Hi there,

Quick question (I may be misreading):  Exactly what is the source of your dispute - that the date of first delinquency is wrong with the collections account?  Because if the account has been brought current (either by rehab, consolidation, or paying off the loan), the collections and original account *should* be coming off at the same time, as the DOFD is what governs reporting.

If the account has not been brought current, by law (Higher Education Act), they need to keep reporting these accounts until they are paid in full.    If the accounts have been brought current, then, yes, the FCRA will take over and the accounts will fall off in 7y (or up to 7y + 180 for the collections account).

^ Edited because reading fail.

Take all of the proof that your collection account is wrong (information from studentaid.gov, info from your credit reports from annualcreditreport.com with the DOFD, screenshots of your disputes, etc.) and file a complaint with the CFPB - that's what I had to do to get my DOFD set correctly with EQ.

[Anonymous]

Oh my goodness, what a mess! Glad to see I am not the only person to go through such a disaster for a simple clerical error. I will do just that, thank you!

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@calyx wrote:

Hi there,

Quick question (I may be misreading):  Exactly what is the source of your dispute - that the date of first delinquency is wrong with the collections account?  Because if the account has been brought current (either by rehab, consolidation, or paying off the loan), the collections and original account *should* be coming off at the same time, as the DOFD is what governs reporting.

If the account has not been brought current, by law (Higher Education Act), they need to keep reporting these accounts until they are paid in full.    If the accounts have been brought current, then, yes, the FCRA will take over and the accounts will fall off in 7y (or up to 7y + 180 for the collections account).

^ Edited because reading fail.

Take all of the proof that your collection account is wrong (information from studentaid.gov, info from your credit reports from annualcreditreport.com with the DOFD, screenshots of your disputes, etc.) and file a complaint with the CFPB - that's what I had to do to get my DOFD set correctly with EQ.

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[Anonymous]

This doesn't suprise me. Equifax absolutely sucks with stuff like this.