I settled with an education loan that went into default a couple of years ago and the during the settlement the education loan company sent a "settlement agreement" or a contract to sign stating what was agreed upon. Well, I recently paid the settlement back in august and it's october and they haven't changed the balance on my credit report to honor the settlement agreement. I talk to them and they stated that they would need 120 days to update the information on my credit report. I've since reported them to the BBB because of this conflict. Does anyone have any further advice to give? It would be greatly appreciated!!!!!
2007-10-17 04:29:03 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
Also to note: this loan is 7 years old.
2007-10-17 06:20:50 · update #1
The settlement was being made as it was about to fall off of my credit report or hit the statue of limititations.
2007-10-17 06:24:59 · update #2
If they agreed to something and you did not get it in writing and have a copy of it. Shame on you.
They will probably not honor it.
Your not powerless. Your going to have to do the foot work if you wait for the Student loan people to do it you will have to keep waiting..........
If you have it in writing then you need to dispute with all 3 credit reports and mail a copy of the agreement to them your self and get is sent certified mail.
120 days is not really a conflict I have read that in a few contract with student loans. Read all of the paper work you have.
To be honest when they update your credit report it probably wont do a lot to raise your t score at this point.. it could lower it depending how old that loan was.
Kourtnie
Prosperity Financial
2007-10-17 04:50:25 · answer #1 · answered by Kourtnie D 4 · 0⤊ 0⤋
1
2016-10-23 21:19:26 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Reporting them to the BBB was a waste of time. The BBB is a private organization of local businesses. They have no authority to do anything, including policing their own members. They certainly can't do anything about a creditor that's in another part of the country.
While 120 days to update is pretty ridiculous, 30 to 60 days isn't. If the loan isn't marked paid by the end of this month, send disputes to the credit bureaus and include proof of your payment.
2007-10-17 05:04:57 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
I dont think they ever erase it off the credit report.I had 1 10yrs ago and it showed up on my report for 8yrs.If you go for a loan of some sort,the company would have to call them tto verify the loan was paid..Thats what I did for that 8 yrs.Good luck
2007-10-17 04:35:07 · answer #4 · answered by BABYGIRL 2 · 0⤊ 1⤋
You should urge them. There is no other go for this. Talk to them politely. You should have read the terms and conditions before taking it. For more details visit http://www.loan-guides.net
2007-10-24 04:40:08 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Hello Everybody,
I am James Paul, a U.K resident and a second year student of university of liver pool. Just a months ago i walked into the hands of some dubrious person(scams), when i was in search of a loan of € 4,500 Pounds to enable me fund my education since i lost my parents in a gharsly auto accident while they were away on vacation. the scamers parted with my € 540 Pounds, which i managed to gather from friends and families to enable me takr care of my bills for lart two months. I decided to tell Betsey.A.Braiaton who communicated the story to Adrew Fulp who happens to be my Vic president for academic services and has got link with various notable lending firm accross the globe. By this means using it to bring a globarlizetion to the world, many student and business men having finacial problems have been able to complete their education to bring a globar happiness around the world .
My happiness now is that i have not only gotten the loan(€ 15,000 Pounds) to pay my tuition them Harvey Loan Inc, piloted by Mr, Patrick Harvey, i have also been able to establish a chaned to allow me collect money at very low competative interest rate.
since they have assured me thet i can come for more funds as long i am a genuine person for requesting it and that there is a possibility of repayment at the stopulated time.i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in need or require a loan legitimately and Government approve lenders, i will advice you contact this loan lender and you can reach him via patrickharvey12@yahoo.com and i want you all to pray for this man for me and you will also tell the world your own story.
2007-10-20 04:20:04 · answer #6 · answered by Anonymous · 0⤊ 0⤋
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2007-10-18 01:13:22 · answer #7 · answered by Anonymous · 0⤊ 1⤋
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2007-10-18 00:47:57 · answer #8 · answered by JOSEPH G 1 · 0⤊ 0⤋
keep copy settlement agreement you paid if then get a free laws call dopt Education
2007-10-17 04:41:00 · answer #9 · answered by Anonymous · 0⤊ 1⤋