Credit Report problem from my Cosigner.

[Jnetty99]

[Minnymouth]

All you have to do is contact the creditor by certified letter, that you dispute the account the error is showing on. You can state that the account has been paid in full as agreed, even though your mom included it in her bankruptcy filing. The account should now say account paid in full as agreed. -0- balance.
In the comments section of the credit report you can state that co-signer filed bankrtupcy on this debt but debt paid in full as agreed.
If they fail to correct the account then dispute the report at the credit bureau and they are forced into either correcting it or removing it from your credit report.

[Jnetty99]

All you have to do is contact the creditor by certified letter, that you dispute the account the error is showing on. You can state that the account has been paid in full as agreed, even though your mom included it in her bankruptcy filing. The account should now say account paid in full as agreed. -0- balance.
In the comments section of the credit report you can state that co-signer filed bankrtupcy on this debt but debt paid in full as agreed.
If they fail to correct the account then dispute the report at the credit bureau and they are forced into either correcting it or removing it from your credit report.

Thank you, you don't know how much that means. I'm freaking out here, i need to get more loans for school soon, and was planning on getting a new car later on before i graduate. I went to other forums and everyone told me that i was screwed.

Edit: You said in the comments section of the credit report to state co-signer filed bankrtupcy but paid in full. How do i do that? do i contact Equifax?

[Minnymouth]

Yes contact all three credit bureaus and make them correct all three reports.....
You can submit a statement stating that "co-signor filed bankruptcy but debtor paid account in full as agreed". This should protect your interest.....
Dispute the actual "included in bankrupty" portion stated on your crdit report. Send a certified letter. YOU did not claim bankruptcy - your co-signer did!! And the creditor needs to state as such......
May take a lettr or two but you can get it clean up easily....

[Jnetty99]

I went ahead and got my credit report from both Transunion and Experian, the one i had seen before was Equifax.
Both Equifax and Transunion have the report, Experian doesn't have it.
I called Equifax and they willl investigate and with Transunion I did an Online Dispute form and they will also investigate.

I called the lender and they were nice and gave me the address for the service center. I'm drafting the letter now and will mail it tomorrow.

At this point i'm slightly stuck, they recommend that I don't ask for credit and I need to apply for student loan before May. Hopefully things will get fixed by May.

[Minnymouth]

Hope you can get this straightened out and get your student loans.

[Jnetty99]

Hope you can get this straightened out and get your student loans.

Thank you for your help.

[Jnetty99]

I have an update on my case.
I recieved a response from the loan company and it says the following.

We have reviewed the information that was provided to the credit reporting agencies. We have forwared a request to the credit reporting agencies to ensure your credit history shows the status of paid in full for february 2006. We have also submitted to remove any bankruptcy information from your report.

This letter was written on April 12, 2006. How long do you think it will take to show up on my report?

[SinkingFast]

Congrats, JN!!

Wish I could tell you when the new info will show on your Credit report. In our case, the negative reporting is running a couple months behind. We're rolling up on the 5th month of missed payments, but the Creditors didn't start reporting on our Credit Reports until we were 60 days late.

Hopefully your reports will be updated much more quickly than that!!

[Jnetty99]

Congrats, JN!!

Wish I could tell you when the new info will show on your Credit report. In our case, the negative reporting is running a couple months behind. We're rolling up on the 5th month of missed payments, but the Creditors didn't start reporting on our Credit Reports until we were 60 days late.

Hopefully your reports will be updated much more quickly than that!!

Woohoooooo
Got a report from Transunion about my investigation and a new credit report and my bankruptcy item was gone.
Did a myfico.com report today for transunion and my Fico score is now 709
694 for equifax
684 for experian (went down, weird)

I'm extremely happy but the damage has already been done. I only have a week and half to pay my summer school payment, can't get a loan that fast.
But I will be ok for Fall

[Minnymouth]

Check with the loan officer and see if that "error" on your credit report is the only thing stopping your from getting the credit. If so - so him the letter that the loan people sent you stating that they were correcting their account with the credit bureau...... May help you get that loan quickly....

Good LUck,

Minny

[Jnetty99]

Check with the loan officer and see if that "error" on your credit report is the only thing stopping your from getting the credit. If so - so him the letter that the loan people sent you stating that they were correcting their account with the credit bureau...... May help you get that loan quickly....

Good LUck,

Minny

Funny i was just speaking with them on the phone for advice.
I asked if i should re-apply and he told me no. They will use the same report as before. Once they get the new report from Transunion they will dump the old report and update their records. At that point they will contact me if I still want to apply for the loan again. But since transunion just was notified about sending them the report yesterday, they will probably get it until next week.

I have half my summer session payment due May 9th, realisticly we both concluded it will almost be impossible to pay it on time. Even if i get lucky and get the paperwork done they would disburse until May 11th.

[no_it_all]

WAY off thread but....what is the advantage of paying school loans while still in school? Is deferment not an option for you? Just wondering.......TIA

[Jnetty99]

WAY off thread but....what is the advantage of paying school loans while still in school? Is deferment not an option for you? Just wondering.......TIA

I went off school for about two years so had to start paying them. When I went back those loans were so close to being paid, that I used my tax return and other $ to pay them off. Those that were to high still went back on deferment, also the new ones.