Loans can destroy you're credit report if you are behind on anything. While you reconsolidated you're debt ( which is a great way out of a stinky situation) you need to get verbal/written communication stating the loan is PAID IN FULL from the company. If they can provide that it is P.I.F then you should dispute the date, and provide evidence that its closed.
If you have lates at some point in the loan that was 120-day lates, then this is correct. Older lates may not show up in the payment history as not all the CMS systems show older than 2 years of payment history. If you have a MyFico subscription under the Older or More Details section, you should see dates listed for delinquencies. I believe you can also see these if you order your yearly reports from annualcreditreport.com.
They will stay for 7 years from the first one in the chain of lates. Probably the best you can do with these now is to try some goodwill letters to get them removed, but I have not heard of many people having much luck with these and student loans. Never hurts to try and you may get lucky.
Thanks OP for creating this thread.
Hope you don;t mind if I also ask about my situation.
My loans show a $0 balance but are not showing as closed.
Last activity is 2013 with several 90 day lates.
I have already disputed, with no luck. There is a statement on report stating that I disagree with the data.
I can dispute this again, but since this would be my 3rd dispute on this item, the CRAs are not obligated to go through the full process to verify.
Given activity dates and above info, am I better off letting this be?
Here is a screenshot of report:
The loan is still in repayment. I do not see that it was ever in default. FSA is showing an RP status.
Great Lakes took over the loan in 2012.
I continued paying as usual but they are saying that during this time, I became 90 days late.
This resulted in 7 months of 90 days lates.
I did not know that I was behind...and I'm still not sure if I ever was.
This could certainly have been my error...but I'm simply not sure.
As best I can tell, something got crossed during the changeover from Dept of Ed to Great Lakes.
I have disputed several times but comes back as legit...and they contimue reporting it as an open loan...although a $0 balance.
One note, Great Lakes is really bad about sending out statements. There are many months that I do not receive them until after the due date has passed. Obviously, I send payments in with or without a statement...
So wondering if there is much more that I can do.
YES...kathyups. We are in the same boat.
But in my situation, there was no consolidation.
The loan simply changed servicers and something got crossed during the change.
I suppose I could go to my old bank and ask for payment proof...but in my case...not sure if worth it.