Comments on: Credit bureaus and Sallie Mae REFUSE to correct student loan high credit reporting http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/ FICO credit scores - settling debts - dealing with collectors ... Mon, 23 Jan 2012 05:25:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Christine http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5667 Christine Mon, 23 Jan 2012 05:25:34 +0000 http://creditfactors.com/?p=404#comment-5667 Gary, please see http://liarsandcheats.info/incorrect-student-loan-reporting-lowers-fico-scores/ I had posted the follow up disputes for my client, but he never sent them as he got busy, moved, etc. and it wasn't at the top of his list of things to do. I currently have several other clients with that problem, but it's NOT their big issue. It's not surprising that people hire me to deal with collections and chargeoffs and those issues are more important for their FICO scores. If you have a few hundred thousand dollars to spare (millions would be better), a class action will likely work. If not, you'll have to do it the hard way and get it done yourself. Submit FACTUAL and PUBLIC complaints to regulators, publish their responses, sue in small claims, pay for national press releases, ... Maybe one of my clients will decide to pursue the issue, just got another round of verifications WITHOUT the correct high credit. <blockquote>I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts</blockquote> If you read the blog at Liars & Cheats Exposed you'll see that many peoples' balances INCREASE while making payments due to income based repayment plans. Many people don't make nearly enough to pay off their student loans, they just don't have the income. I'm with Webster Tarpley and would definitely be for forgiving the 1 trillion + in student loans. That'll be the day. Gary, please see http://liarsandcheats.info/incorrect-student-loan-reporting-lowers-fico-scores/

I had posted the follow up disputes for my client, but he never sent them as he got busy, moved, etc. and it wasn’t at the top of his list of things to do.

I currently have several other clients with that problem, but it’s NOT their big issue. It’s not surprising that people hire me to deal with collections and chargeoffs and those issues are more important for their FICO scores.

If you have a few hundred thousand dollars to spare (millions would be better), a class action will likely work.

If not, you’ll have to do it the hard way and get it done yourself. Submit FACTUAL and PUBLIC complaints to regulators, publish their responses, sue in small claims, pay for national press releases, …

Maybe one of my clients will decide to pursue the issue, just got another round of verifications WITHOUT the correct high credit.

I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts

If you read the blog at Liars & Cheats Exposed you’ll see that many peoples’ balances INCREASE while making payments due to income based repayment plans. Many people don’t make nearly enough to pay off their student loans, they just don’t have the income.

I’m with Webster Tarpley and would definitely be for forgiving the 1 trillion + in student loans. That’ll be the day.

]]> By: Gary http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5666 Gary Mon, 23 Jan 2012 04:02:33 +0000 http://creditfactors.com/?p=404#comment-5666 This is a simple fix by the Department of Education. They can work with other executive branch agencies to write a regulation requiring Sallie Mae to report the amount correctly. I would suggest the date loans went into repayment. That would make everyone's loan amount the highest the date repayment starts. Write the President, let the White House work for the student vote this time. This is a simple fix by the Department of Education. They can work with other executive branch agencies to write a regulation requiring Sallie Mae to report the amount correctly. I would suggest the date loans went into repayment. That would make everyone’s loan amount the highest the date repayment starts. Write the President, let the White House work for the student vote this time.

]]> By: Gary Richmond http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-5664 Gary Richmond Mon, 23 Jan 2012 01:03:59 +0000 http://creditfactors.com/?p=404#comment-5664 I am considering a class action law suit against sallie mae for thier reporting of high limit loans information. I believe the high limit should be the amount of the loan once it goes into repayment, not the amount of the loan the day it is written. I am going to spend the week looking at regulation but I would be surprised to see if there is a legal requirement to report the limit the date the loan was made. I believe it is a fairness issue and a federal court would come down on the side of the student. For it to work thousands of student borrowers would need to be involved. I am considering a class action law suit against sallie mae for thier reporting of high limit loans information. I believe the high limit should be the amount of the loan once it goes into repayment, not the amount of the loan the day it is written. I am going to spend the week looking at regulation but I would be surprised to see if there is a legal requirement to report the limit the date the loan was made. I believe it is a fairness issue and a federal court would come down on the side of the student. For it to work thousands of student borrowers would need to be involved.

]]> By: Christine http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-184 Christine Sat, 14 Mar 2009 21:05:34 +0000 http://creditfactors.com/?p=404#comment-184 <b>It's NOT too late!</B> I just posted at http://trado.info/video-default-the-student-loan-documentary after I watched the video at your blog. You made a few bucks today (those DEBT CONSOLIDATION ads pay well), but of course that's not enough to make just one loan payment. There are MANY ways to get back at the banks, you just need to get a DIFFERENT kind of education, learn about the laws and ways to evade them. "You can't squeeze blood out of a turnip." It’s NOT too late!

I just posted at http://trado.info/video-default-the-student-loan-documentary after I watched the video at your blog.

You made a few bucks today (those DEBT CONSOLIDATION ads pay well), but of course that’s not enough to make just one loan payment.

There are MANY ways to get back at the banks, you just need to get a DIFFERENT kind of education, learn about the laws and ways to evade them.

“You can’t squeeze blood out of a turnip.”

]]> By: jeff http://creditfactors.com/2008/09/credit-bureaus-and-sallie-mae-refuse-to-correct-student-loan-high-credit-reporting/comment-page-1/#comment-180 jeff Sat, 14 Mar 2009 08:12:40 +0000 http://creditfactors.com/?p=404#comment-180 Wow... that is yet another student loan gotcha. The protections of student loans is all for the loan companies. sometimes I think it would have been better to pay for school with a credit card for a few reasons. Wow… that is yet another student loan gotcha. The protections of student loans is all for the loan companies. sometimes I think it would have been better to pay for school with a credit card for a few reasons.

]]>