So I called my student loan company and talked to them. I've had the loan for about 7-8 years now and randomly asked if I ever had late payments. They said they didn't see any except twice a year or two ago. I was like, what? So what I have been doing is doing a forbearance since interest rates on it are low. Apparently they approved the forbearance for the dates but since the forbearance was back dated they still marked those payments as late and reported to my credit bureaus. Is this right or legal? Can I contest this?

Generally if it happened 12 months ago it will not show on your credit report. Credit reports only reflect the last 12 months of late payment activity on your account.

You could contest it under law if you choose. If you do you have to send a HAND WRITTEN LETTER not a run of the mill form letter and explain the situation. The hand written letter gets it into human hands and the run of the mill for letters will be kick out by the E-oscar system

Originally Posted by captivereef

Generally if it happened 12 months ago it will not show on your credit report. Credit reports only reflect the last 12 months of late payment activity on your account.

You could contest it under law if you choose. If you do you have to send a HAND WRITTEN LETTER not a run of the mill form letter and explain the situation. The hand written letter gets it into human hands and the run of the mill for letters will be kick out by the E-oscar system

Late payments only show for the last 12 months? I thought it was much longer than that like 7 years?

Originally Posted by schrute

Late payments only show for the last 12 months? I thought it was much longer than that like 7 years?

It is not 12 months. It is 7 years.

You have two options. 1. ask the loan company to have it removed or 2. file a dispute with the credit reporting agencies.

Also if it impacts your credit score there are other factors such as what was the late payment reported 30,60,90 or 120! Also what is the rest of your credit profile like, if its clean the effect will be less then if you have maxed out credit cards and late payments on other accounts

they can but most fall off after 12 months. Most credit reports only report the last 12 months account activity anyways. The stuff that sticks around for 7 years is shit like bankruptcies, charge offs, derogatory public record that type of stuff.

Originally Posted by captivereef

Generally if it happened 12 months ago it will not show on your credit report. Credit reports only reflect the last 12 months of late payment activity on your account.

You could contest it under law if you choose. If you do you have to send a HAND WRITTEN LETTER not a run of the mill form letter and explain the situation. The hand written letter gets it into human hands and the run of the mill for letters will be kick out by the E-oscar system

Originally Posted by -Jericho-

It is not 12 months. It is 7 years.

You have two options. 1. ask the loan company to have it removed or 2. file a dispute with the credit reporting agencies.

Originally Posted by captivereef

Also if it impacts your credit score there are other factors such as what was the late payment reported 30,60,90 or 120! Also what is the rest of your credit profile like, if its clean the effect will be less then if you have maxed out credit cards and late payments on other accounts

I asked them to remove it but they won't. The late amount is like less than $100. Hell, when I asked about it one of the ladies said, "It looks like an error, I'll have to ask my boss". My position is that they process paperwork late and it's their fault not mine. While I don't want to tell them that quite, I think they should consider removing the late payments - one there's only 2 of them and the account was 'covered' under forbearance otherwise I shouldn't have been given a forbearance for the period in which it was late.

Originally Posted by schrute

I asked them to remove it but they won't. The late amount is like less than $100. Hell, when I asked about it one of the ladies said, "It looks like an error, I'll have to ask my boss". My position is that they process paperwork late and it's their fault not mine. While I don't want to tell them that quite, I think they should consider removing the late payments - one there's only 2 of them and the account was 'covered' under forbearance otherwise I shouldn't have been given a forbearance for the period in which it was late.

Thing is, I got loans like up to $40,000 that are reported as 'good standing' and never missed one payment. A shitty $100 missed payment messing up my credit I think sucks since I don't believe its directly my fault (i.e. I gave them the paperwork and they processed it late).

Just write a hand written not typed letter stating the account should have never been marked late do to a forebearance agreement with the lender. Include a photo copy of your credit report with the item circled and its a 90% chance it will get taken off.

Like i mentioned DO NOT use a fill in the blank form letter of the credit bureau document scanning system will identify it and kick it out of the system. If yo need any credit repair material let me know i have been in the niche for years

Do not ask the lender dispute it with the credit bureaus directly

Originally Posted by captivereef

Do not ask the lender dispute it with the credit bureaus directly

If you can send me some credit repair material that would be great man. MUCH appreciate it and can send some love back. So write the letter right to the credit bureau not my lender?

pm me you email

sent it

Originally Posted by captivereef

sent it

Thanks man! Really helps!