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Equifax refuses to update my student loan from my credit report

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Manhattanlad
Member

Equifax refuses to update my student loan from my credit report

My student loan has been paid off completely since August. I have contacted Equifax every month, they investigate and then the repost the full loan balance (of $390,000) as being due. The other 2 credit agencies list it as being paid off but Equifax continues to post it even after i've sent them documents from the agencies saying the loan is paid in full. Not sure what the next step is - is there somewhere you can go to dispute a credit reporting agency. Clearly they are just too lazy to actually investigate.

MOST RECENT: EQ:717 / TU: 728 / EXP: 718-- BK 3/2014
Message 1 of 15
14 REPLIES 14
FireMedic1
Community Leader
Mega Contributor

Re: Equifax refuses to update my student loan from my credit report

File a complaint with the CFPB and upload supporting documents.

https://www.consumerfinance.gov/complaint/ 


Message 2 of 15
JoeRockhead
Senior Contributor

Re: Equifax refuses to update my student loan from my credit report

It's possible Equifax has you flagged (unjustly) for frivolous disputing, and are simply ignoring your disputes. As @FireMedic1 suggested, file a complaint with the CFPB. This will force them to take it seriously, more thoroughly investigate it, and respond.

Message 3 of 15
Manhattanlad
Member

Re: Equifax refuses to update my student loan from my credit report

Thank you. I spoke to Equifax and they say they cannot remove the amount listed until the Student Loan Lender (Mohella) responds to their request, which they have not done. They said it does not matter that I have provided written confirmation and statements, but the information must come from Mohella - and i guess they aren't in any rush to confirm I owe nothing. I will file a dispute as per your suggestion so this gets removed sooner than later.

MOST RECENT: EQ:717 / TU: 728 / EXP: 718-- BK 3/2014
Message 4 of 15
JoeRockhead
Senior Contributor

Re: Equifax refuses to update my student loan from my credit report

@Manhattanlad I would do that, as it's possible your lender is also in violation of the FCRA. Let us know how you make out.

Message 5 of 15
iowe
Regular Contributor

Re: Equifax refuses to update my student loan from my credit report

I'm in the same situation with Mohela. Most of my student loans were discharged on Sept 9. As of today, none of the credit bureaus have the current balance updated, and when I check my credit reports, Mohela hasn't sent them any updates since June. I'm giving them until November 10, and if no updates occur I'll be taking some action. 









2024 Goal: To finally be debt free
Message 6 of 15
GatoradeZeroGuy
Valued Contributor

Re: Equifax refuses to update my student loan from my credit report


@iowe wrote:

I'm in the same situation with Mohela. Most of my student loans were discharged on Sept 9. As of today, none of the credit bureaus have the current balance updated, and when I check my credit reports, Mohela hasn't sent them any updates since June. I'm giving them until November 10, and if no updates occur I'll be taking some action. 


when I called nelnet about asking them to report updated balances, they initiated a dispute from their end which ended up in them reporting the correct balance much sooner than they otherwise would have 

Starting FICO 8:

Current FICO 8:

3/6, 5/12, 14/24

Message 7 of 15
Rebuild2019
Valued Contributor

Re: Equifax refuses to update my student loan from my credit report

What's strange is that the other 2 credit agencies list it as being paid off, but EQ is not. Why would they have reported it to the other two agencies, but not EQ.

 

Sounds a little odd.  


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Message 8 of 15
FireMedic1
Community Leader
Mega Contributor

Re: Equifax refuses to update my student loan from my credit report

Its EQ. Thats why we say dont ask EQ for EE or dispute inaccurate items. They'll mess things. This is in the break room:

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Smiley Very Happy


Message 9 of 15
Manhattanlad
Member

Re: Equifax refuses to update my student loan from my credit report

I put the dispute with Transunion and they fixed it immediately. I'd recommend putting a dispute on all three bureaus.Equifax is the only one who won't change it DESPITE all the statments i sent them.

MOST RECENT: EQ:717 / TU: 728 / EXP: 718-- BK 3/2014
Message 10 of 15
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