Hi Everyone,
I am about a year and a half into my Ch 13, with a year and a half to go. I pulled a credit report recently to see if my efforts to clean it up have been working, and all of my credit card companies are correct, but my student loan company is driving me nuts! Sallie Mae transferred my loan to another agency that deals with loans while they are in bankruptcy protection, and when I get discharged, the loans will go back to Sallie Mae. So, here is the problem. Sallie Mae is listing late payments, 180 days as of Apr 2006, when I filed in Aug 2005 and was NEVER late. In fact, I was in voluntary deferment at the time of filing. They are also listed as a "derogatory" account and have the notation "incl in Ch 13 bankruptcy". Ok, so then there is another entry under the company that they were transferred to. They are also listed as a "derogatory" or "potentially negative item" (depending on which credit bureau). And, on the Trans Union report, they are under the category of a Collection Agency.
So I called Sallie Mae this morning, and they proceeded to explain how the loan was transferred, and I have to call this other agency to get more info. So I do, and they say my account is not in collection, it is just under bankruptcy protection. They said I need to dispute the wrong information with the credit agencies. I did this, but I am wondering, is it correct that I have the same account listed under 2 different companies, with derogatory comments? I would think Sallie Mae should just list it as a sold or transferred account, and then the other company would list it as "included in bankruptcy". Does anyone have any idea what is right here? I am really frustrated!
By the way, the student loan is not included in my payment plan, it is just supposed to be deferred until I am discharged.
I am about a year and a half into my Ch 13, with a year and a half to go. I pulled a credit report recently to see if my efforts to clean it up have been working, and all of my credit card companies are correct, but my student loan company is driving me nuts! Sallie Mae transferred my loan to another agency that deals with loans while they are in bankruptcy protection, and when I get discharged, the loans will go back to Sallie Mae. So, here is the problem. Sallie Mae is listing late payments, 180 days as of Apr 2006, when I filed in Aug 2005 and was NEVER late. In fact, I was in voluntary deferment at the time of filing. They are also listed as a "derogatory" account and have the notation "incl in Ch 13 bankruptcy". Ok, so then there is another entry under the company that they were transferred to. They are also listed as a "derogatory" or "potentially negative item" (depending on which credit bureau). And, on the Trans Union report, they are under the category of a Collection Agency.
So I called Sallie Mae this morning, and they proceeded to explain how the loan was transferred, and I have to call this other agency to get more info. So I do, and they say my account is not in collection, it is just under bankruptcy protection. They said I need to dispute the wrong information with the credit agencies. I did this, but I am wondering, is it correct that I have the same account listed under 2 different companies, with derogatory comments? I would think Sallie Mae should just list it as a sold or transferred account, and then the other company would list it as "included in bankruptcy". Does anyone have any idea what is right here? I am really frustrated!
By the way, the student loan is not included in my payment plan, it is just supposed to be deferred until I am discharged.
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