Repair Credit Report Help
Student Loan Default however I didnt know. I paid it immediatly. FAFSA wont fix and its on Credit Report. Cant
In 2006, I recieved a call from Dept of Education Collections saying I owed 250.00 from an overpayment. I had no idea about this and I immediatly paid it on the phone then. On my credit report it says paid in full NOW, but claims it was once in collections and shows up as DK Status. Financial AId (FAFSA) Claims they sent me a letter in the summer however I did not recieve it. I have called multiple times to get this off my credit report and they all say too bad so sad, we mailed it to you and followed policy so it stays on your report as once being defaulted. I honeslty never recieved the collection letter and it was only for 250.00. I immediatly paid it when they called. I can now not get private student loans from say sallie mae or anyone else because of this one issue. I am rejected because "Student Loan Default" Which was only for 250.00. Is there ANY way I can fix this? I have even disputed it through all 3 credit reporting agencies and they never fix it. Dept of Ed is not helping
Public Comments
- Not knowing about it doesn't excuse it going into default. Sorry, otherwise think of the millions of people out there who'd say this. If it makes you feel any better, in the grand scheme of things, 250 dollars is not all that much, and you are better off NOT getting a private student loan anyway. otherwise you'll end up like this guy.. http://answers.yahoo.com/question/index;_ylt=AmtGyQG6X5n.4AikQhfQGY_IxQt.;_ylv=3?qid=20080721182543AArnvea
- Once it goes into default, it goes on the credit report and it stays on it for up to 10 years just like a bankruptcy does..There isn't much you can do.. At least it's a small amount. Usually IF a loan goes into default, you can't even get a pell grant so consider yourself lucky if you can get one of those.. As time goes by, that won't affect you as much as it does not.. people will see that your other bills are being paid on time and that is the only thing you defaulted on and it was 6 months ago or 1 year ago and you may be able to get one later. Maybe not a private loan.. but you maybe able to get a loan thru the school that's not a PRIVATE loan.. they are much stricter on Private loans than on guaranteed loans thru the school. Not much you can do at this point. That's why they say always check your credit report every 3-6 months especially with id theft so rampant.. you never know when someone will get your ss # and charge something and you will never know it until it's too late to do anything about it.. GL
