I was 120+ days late on two of my student loans back in 2011, but I consolidated them and the two in question were then paid off and the accounts therefore closed. However, I am confused because of the following:
TU: Reports account closed, $0 balance, stopped reporting in 2011, but current status is 120+ days past due??
EQ: Reports account closed, $0 balance, but kept on reporting through the end of 2012, and account status is "paid as agreed"
Which of these could be impacting my credit score, and how do I go about correcting the errors? I would post the screenshots of the account from both EQ and TU, but not sure how to attach images.
Current Scores:EQ: 726 (07/13) | TU: 656 (03/13) | EX: 715 (07/13)
@kimbia wrote:I was 120+ days late on two of my student loans back in 2011, but I consolidated them and the two in question were then paid off and the accounts therefore closed. However, I am confused because of the following:
TU: Reports account closed, $0 balance, stopped reporting in 2011, but current status is 120+ days past due??
EQ: Reports account closed, $0 balance, but kept on reporting through the end of 2012, and account status is "paid as agreed"
Which of these could be impacting my credit score, and how do I go about correcting the errors? I would post the screenshots of the account from both EQ and TU, but not sure how to attach images.
You should get teh TU report corrected. However, regardless of current status. 120 late is a major derogatory and will have significant drag on your score. It will stay for 7 years, and it's impact will diminish over time. If you want a way to take care of it, search for GW letters or Goodwill letters in the forum. This is basically, begging the lender to cut you a slack and remove the lates from your CRs
My Starting Score: EQ: 691 (11/30/11) TU98: 726 (11/30/11)Yeah, I know that 120 is a major derogatory, and I've already tried GW a couple of times to no avail. Just wanted clarity on whether the current status was dragging down my score (in addition to the late payment history), and whether the fact it was reporting on my EQ through the end of last year despite it being transfered and closed was also hurting it.