Not in Repayment; Credit Consideration

[PoorMouth]

Does anyone have any legal language for why student loans (or other items) not in repayment, but yet listed on one's credit report, can not be computed into a debt-to-income ratio?

Thanks,

Poormouth

[Ravenous Wolf]

I am not exactly sure what you mean by your question?

Do you mean that your student loans are not listed on your credit reports and you are trying to find a legal way not to include those debts into your debt to income ratio?

If that is the question, then here is my answer.

Why don't you lie???

Like, most of this board is about lying and misrepresenting yourself so you can either get your credit repaired or get better credit terms.

I have two student loans totalling slightly over 20k and none of them show up on my credit reports, hence they are not calculated into my debt to income ratios.

I have seen blanks on credit application forms asking additional debt not listed.

Guess what.

I don't volunteer any information.

In fact, my mortgage loan officer once commented about how good my debt to income ratio looked (especially without my two student loans clogging up my debt ratio).

If that is what you are asking, then I would suggest that you lie (which is like much of the advice that is circulated around here).

[PoorMouth]

I disagree that this board is about "lying." Anyway, they are listed on my credit report and I don't want things illegitimately placed in my debt-to-income ratio when they are not in repayment, and likely never will be. My employer will pay them.

[Ravenous Wolf]

Quite a bit of advice dispensed around here is about lying.

And there is a big difference between lying and doing something illegal.

You and governmental instititutions can actually lie and still be perfectly legal. Cops and prosecuters do it all the time and their lying is perfectly legal. So do informants, sting operations, lawyers, etc...

However, many people on this board make a clear distinction about lying and doing something illegal (like falsifying documents) that will you land in your state "Pound You in the [EXPLETIVE DELETED] Prison".

If you think certain types of lying is wrong, then that is a question to be taken up with your priest, minister, or rabbi.

But as to what is legal, that is what much of the advice here is about.

You can legally dispute ANY information listed on your credit report at ANY time for ANY reason.

You can legally dispute any kind of inaccuracy (that is, technicalities) within your credit report. The FCRA is very clear about this:

611. Procedure in case of disputed accuracy [15 U.S.C. § 1681i]

(a) Reinvestigation of disputed information.

(1) Reinvestigation required.

(A) In general. If the completeness or accuracy of any item of information contained in a consumer's file at a consumer reporting agency is disputed by the consumer and the consumer notifies the agency directly of such dispute, the agency shall reinvestigate free of charge and record the current status of the disputed information, or delete the item from the file in accordance with paragraph (5), before the end of the 30-day period beginning on the date on which the agency receives the notice of the dispute from the consumer.

If you want to lower your debt to income ratio, simply "legally" dispute the inaccuracy of your credit items using many of the techniques described on this board.

Once those student loans are removed, that will greatly enhance your debt to income ratio.

By having something removed from your credit report doesn't mean that you are not longer obligated to pay off a debt (I wish), it just means that the Fair Isaac corporation does not include that value in its mathematical model to calculate your credit score, etc...

[PoorMouth]

I don't think that I was clear enough. Anyway, I'm graduating from law school in May, so I didn't mean to paint the picture that I was unaware of the law. In my research, I was unable to find anything on point and was simply wondering what others have used. Again, as to this board being about "lying," well you're entitled to your opinion. Please respect my right to disagree. Thanks for the reply though. Actually, I think this is about someone in a financing office that doesn't know what she's doing.

[Guest]

When we were tryin to get a mortgage.. they said they WOULD consider them unless we got a letter from the lender stating they are in deferment and the time.

Usually they will consider them..sometimes they wont

depends on the lender