Hi, I've read quite a few posts on your blog, not sure how to post one myself? my question is -I have 2 student loans that were delinquent and each one appears to be listed 3 times on my credit report - each one says condition "derogatory" and pay status "120 days late" I am now paying on them and those two accounts are correctly reported as "current" each entry is listed by Iowa Student Loan, so when my report is pulled, it looks as though I'm not paying on 4 of my accounts. I've tried disputing them with no luck, there is a remark on them that says "student loan perm assign to government" I've called the student loan people and they confused me even more. what other options do I have?
I've used some of your advice on other issues with great results! Had a lot of negative information removed by disputing - EVEN A JUDGMENT! Increased credit score by 40 points in 30 days! Thanks
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what did the dispute reply say
did it give the same address and phone number you used to get confused by Iowa student loan.
if so, and it sounds like that's what happened, you should talk to ISL again and again until you get it straight. There has to be different account numbers for these accounts. Many times a loan company will re do the loan to overcome a consumer being late on the loan companies books. They can't just, out of the blue say, you are not late unless you pay up or they redo the the loan.
I would think you could dispute or negotiate to have those, other, showing late now, loans to "say same account', "duplicate account" as the one being paid on.
When you dispute these items someone is verifying them somewhere. But this someone should say these accounts are now combined with another account and should show zero balance.
The accounts will still show you were late once upon a time, but they should not show you are late NOW.
You might use the account numbers to get a letter from ISL, on ISL letterhead, that says these accounts were combined with accountabc which is now being paid in time.
There is no easy answer but. DIG IN. You can do it.
Thursday, February 28, 2008
student loans that were delinquent and each one appears to be listed 3 times on my credit report
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hey, I currently have a score of 605. I recently checked my credit report and the only thing negative on my report are my US dept of education student loans which are in derogatory standing. The report list all 7 individual loans takin out. So it has 6,000 here, 4,000 there, until totaling 27,000. Student loans offered me that if i were to pay them on time for certain amount of months then they would turn all 7 derogatory into pays as agreed. I do have 3 closed (paid off) credit cards on my account and one relvolving loan acct. how do you think this will affect my credit score once those 7 students loans are all switched to pay as agreed? Does derogatory really affect my credit badly?
you need to reopen those closed credit cards for 12 months. Then your score will jump to 680 range when the 7 turn to paid as agreed like you said.
but without reopening tha other accounts not just quite yet, will i notice a good change
if they are recent
say last two years
yes you should see a nice change on your score maybe up to 50 points
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