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Hello friends,
I have had ">120 days late" US dept of ED lates on my CR from 2013. I called my loan servicer today and spoke to a young man (a hero, really) and he states that all my loans are in good standing and have never had negative history. He said he's going to have a letter drafted which states that, and I should take it to the Credit Bureaus to have my credit corrected. Is this really how easy it is? Is there any risk?
I'm trying not to panic or get overly optimistic, since I've struggled with my credit for a while and this could be a dream come true.
In theory, that should be it. When you dispute the accuracy of the payment history, you should be able to submit evidence to back up the dispute.
I'm sure there are folks here that can provide a lot more intricate detail, though.
Is this a fresh loan or a reconsolidation? If it is fresh then something reported wrong. If it is a consolidation then did you ever have a 120 late on the previous loan? It might not have transfered to the new servicer correctly. I think I remember Fedloan being a good servicer.
In that case when you get the letter attach a copy to each dispute and happily rail the credit bureau.