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I am trying to buy a second home, but according to my credit report I still owe my college loan company. I finished paying them over a year ago. I even called them and they say the debt has been paid but according to my report it is in default. The loan never went into default the entire time I had the loan. The loan company has so many departments they can't tell who is doing what. This is holding up closing on a second home for it really drops my credit score. What should I do and how long should this process take?

2007-01-15 12:33:22 · 3 answers · asked by still_happy2006 3 in Business & Finance Credit

3 answers

Dispute the debt with the credit bureaus...they only have 30 days to fix it.
While you're waiting, have the loan company give you something in writing stating that the debt has been paid. Get copies of it & send a copy to each credit bureau. You can also give a copy to your mortgage broker or lender...they will usually accept this as proof that the debt has been satisfied which allows you to continue through the process without having to wait for the credit bureaus to fix your credit.
Good luck

2007-01-15 13:12:05 · answer #1 · answered by Kim K 2 · 0 0

Xerox or printer copy copies of your student loans and the checks for each OR have the student loan office of the college / colleges you attended mail a copy of proof of payment of student loans to the credit bureau in question. After they receive everything, that should clear things up.

2007-01-15 12:45:15 · answer #2 · answered by Anonymous · 1 0

not something purchase time and paying your costs as agreed clears up credit. as long as that's not a financial ruin, that's going to fall off in 7-years. not something legally would properly be bumped off out of your credit it is real training. I placed a internet address interior the resource field. I strongly recommend which you order this e book. that's packed with training to help your credit.

2016-10-20 06:32:56 · answer #3 · answered by Anonymous · 0 0

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