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Removing items from credit

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Anonymous
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Removing items from credit

I have a charged off student loan from six years ago which appears to still have an impact in credit application decisions. Does anyone know how to go about getting it removed from my credit prior to the 7 year statute?
Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Removing items from credit

Yes, people have had luck getting derogatories removed before the legal maximum reporting period.

 

As to what people know, you'll have to give some more details -- who was the loan through, was it ever reported also as a collection, etc?

 

Student loans tend to be the toughest because publicly guaranteed loans (I believe) are required to report correct status.

Message 2 of 6
Anonymous
Not applicable

Re: Removing items from credit

It was a private loan through Sallie Mae. I have had no success trying to remove it myself and disputing it goes nowhere. It was charged off, would I benefit from a credit recovery agency?
Message 3 of 6
Anonymous
Not applicable

Re: Removing items from credit


@Anonymous wrote:
It was a private loan through Sallie Mae. I have had no success trying to remove it myself and disputing it goes nowhere. It was charged off, would I benefit from a credit recovery agency?

How have you been disputing?

Message 4 of 6
RobertEG
Legendary Contributor

Re: Removing items from credit

Private student loan charge-offs are excluded based on the normal provisions of FCRA 605(c), which sets a period of no later than 7 years plus 180 days from the DOFD.  If it has not net reached seven years, there is no basis for dispute of continued reporting of the charge-off in your credit report unless you show that the debt was either not yours or was not delinquent to the point where it was charged-off.

 

The only process for obtaining removal of a legit charge-off prior to its mandated exclusion date is to request a good-will deletion by the creditor.  Chances of a voluntary deletion by the creditor are near nil if the debt remains unpaid.  Is the loan now paid?

Message 5 of 6
Anonymous
Not applicable

Re: Removing items from credit

No it was settled and being repaid. Once it's paid off will the lender be more inclined to remove it?
Message 6 of 6
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