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Hi. I'm Steph and I am new here. After getting advise from these forms for 6 months (just reading), I have finally started to rebuild my credit. But I need help with a collection account that I have already paid which I think is reporting as recent late payment / charge-off. Experian customer service nor the collections agency has any clue what I am talking about.
Situation: I recently found out that an old student loan was bought from Navient (which I guess use to be Sally Mae) and then sold to ECMC which went on my report in 2016. Upon finding out that ECMC had put me in collections, I called them and paid the loan off completely on December 18th 2018. ECMC claimed the loan was closed and paid in full and that they send the status to credit agencies every first Sunday of the month (that was suppose to be Jan 5, 2019).
My ECMC loan in my Experian account is showing as 2 charge-offs. Both November and December showing as "N". My Experian file says my last recent late payment was 1 month ago. This is not possible for any other account since everything has been paid on time. But the payment history on my ECMC account shows 100%. All the information in it not only confusing but contradictory. What is going on here? I just need someone to make sense of it and if someone has experience with this?
Thank you to anyone who can help!
-Step
I'll ping @Anonymousi and see what she says as our in house student loan expert. It seems a CFPB compalint should be filed. But I'm no SL expert.
@Anonymous wrote:Hi. I'm Steph and I am new here. After getting advise from these forms for 6 months (just reading), I have finally started to rebuild my credit. But I need help with a collection account that I have already paid which I think is reporting as recent late payment / charge-off. Experian customer service nor the collections agency has any clue what I am talking about.
Situation: I recently found out that an old student loan was bought from Navient (which I guess use to be Sally Mae) and then sold to ECMC which went on my report in 2016. Upon finding out that ECMC had put me in collections, I called them and paid the loan off completely on December 18th 2018. ECMC claimed the loan was closed and paid in full and that they send the status to credit agencies every first Sunday of the month (that was suppose to be Jan 5, 2019).
My ECMC loan in my Experian account is showing as 2 charge-offs. Both November and December showing as "N". My Experian file says my last recent late payment was 1 month ago. This is not possible for any other account since everything has been paid on time. But the payment history on my ECMC account shows 100%. All the information in it not only confusing but contradictory. What is going on here? I just need someone to make sense of it and if someone has experience with this?
Thank you to anyone who can help!
-Step
If you paid this account in full back in December 2018, the account should show it as a "Charge Off" with a notation in the memo section stating "payment in full after charge off", and a zero balance. The monthly reporting should have stopped back in January 2019.
Do you see any indication that the account was paid and a zero balance? Are you looking at the right account?
@Anonymous wrote:
If you paid it in full in December and it was delinquent at that time, then your last late would be one month ago, because it was delinquent last month until you paid it.
The letter in could be referring to not reported.
Is this the collection showing or the original tradeline? Or both?
Op paid it off in December 2018.
@Anonymous wrote:
Yes, the account shows closed and paid with a $0 balance but my concern is that it's showing November and December as late or "N" for negative. And my Experian report states that my last late payment was 30 days ago.
Nothing else could have triggered it.
I'm trying to post an image / screenshot here but seems like I can't.
<Response Deleted> as I replied before reading further down that you had basically already done what I was suggesting.