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     | Friday, December 01, 2000 - 11:56 am  I'm actually not sure what to put this under, but I'm a little confused regarding a couple of items on my current Credit Report. I'll summarize the long story: my Perkins loans went into default; those, along with a $400 "tuition charge" (the $150 the University charged me for dropping out + the Long Distance Phone bill my ex-husband ran up) went to one collection Agency. Since November of 1999, I'd been making payments _as agreed_ to the agency. As of April 2000, the Perkins Loan was brought to a "current" status (or should have been), and is now consolidated w/the Dept. of Education (my understanding is that they wouldn't have taken it if it'd been in Default). As well, 22 Sept 2000, I received a "congrats, our records show you've paid in full your loans" letter from the University, along with the original promisary notes. My payments to the collection agency were applied to _all_ the accounts (which amounted to not much being taken off, but that was understood). My last Experian report, dated 23 Feb 2000, doesn't list the "tuition" account under the collection agency at all, and has the Perkins Loans under 4 separate accounts, listed as in collection. Trans Union lists the same (understandable, since they're not considated @ this point, BUT I'd made payments on them). Now for the questions: 1) My _current_ Experian report (22 Nov 2000), lists the Collection Account as amount past due (rather than stating that I'm making payments as agreed ... but I have another beef w/them). I suspect that they can do this, but wanted to verify. The final amount will be paid in full this month (yay). 2) Current Experian report ALSO lists the 4 Perkins with the University as "collection account/past due" with $0 owed as of 10-2000. Shouldn't this have moved to a "Paid/collection account" status, since they no longer hold the loans? They _are_ listed as such under the collection agency, but not under the University. 3) There are 2 items listed with a collection Agency for Pacific Bell. While I don't doubt one listing from them, I'm a little confused about 2. The first was reported 8-1996, and the 2nd reported 11-1996, and are for 2 different amounts. I know I didn't have 2 phone lines with them; in fact, as of 7-1996 I wasn't even living in California. While I'm not disputing the validity of the charges (I couldn't be as cold hearted as I needed to, and leave my ex-husband w/out a phone), I'm wondering about why it's 2 items, and not 1. 4) Has anyone ever tried to get student loan listings consolidated into 1 item? With the Perkins loans, that creates 3 different items under both the university & the collection agency (so 6 total), and with my Stafford Loans, that adds an additional 6 items to my report. So out of my '8' accounts in good standing, 6 of them are pretty much the same account, and of the "19" accounts with creditors & others, 6 of them are the same accounts. I have a headache.
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| | Saturday, December 02, 2000 - 06:22 pm Jennifer, Your story is quite common especially among students. May I point you to a very in depth article on student loan default and the problems wih rehabilitation? I am not too comfortable about posting the links here because my intent is for you to get help not to make everyone else think they should follow the link. That being said, I think this information would answer alot of questions for you and it is of course free info, not fee structured. Just email me for link or if Christine does not mind me posting the link I will check back.
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| | Saturday, December 02, 2000 - 07:16 pm I actually talked w/the collection agency last night (as I was making the final payment on the other account). The guy handling my account agreed that it should have been listed as paid, and told me I should dispute it w/the CRAs (start with them because they take the longest), particularly given that I had the letter from the University stating the loans were paid off. I think I'm going to call the University on Monday, and find out who I talk to. I'm not looking at trying for any sort of credit for a while, so it's not a _huge_ issue; I actually find it kind of ironic that I found errors on my report. Of course, I'm waiting on my Trans Union & Equifax reports to find out what this Mysterious Judgement is (one of the reasons I've been given for denial of credit is a judgment ... Experian has no judgement listed, and Trans Union had no judgement listed in Feb - and those were the 2 CRAs used in determining my "worthiness"). It may also just be Experian that has the account listed wrong. I'll hopefully know more in a week or two, when the other 2 reports show up.
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| | Saturday, December 02, 2000 - 10:11 pm Kristi, much appreciate any informative links!
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| | Sunday, December 03, 2000 - 07:16 am Thanks Christine! This article gets read & printed so much because there are millions of students out there who are suffering from damaged credit even though they have letters of payment or have rehabilitated the loans. Many can't seem to get the school or the ombudsman to even pay attention to their requests so we wrote this to help the thousands that end up at sites searching for "Student Loan Rehab" or "Defaulted Student Loans". One of the biggest problems is the school(s) listing the loans several times over even if they have been closed or transfered. Happy reading! http://www.carreonandassociates.com/sl.htm http://www.carreonandassociates.com/stuloanrehabact.htm
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