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So I defaulted on a student loan years ago. It's listed on my CR about a few times, as AES/NCT, CItizen's Bank, etc. I settled with agency (Richard Boudreau) for half the amount as they agreed to post it as Paid in Full and I really wanted to get this in my rear-view. They sent me a letter saying that they would report it to the owner so I sent the cashier's check certified mail. However, this was over a month ago and I have yet to see a change in my CR. I also have not received the paid letter from the collector as I was promised. Any advice as to what I should do? I am really ignorant to all of this stuff.

 

Also, any idea how to get the multiple negative tradelines removed? I removed the account numbers but they were the same on each listing. It looks like I have a handful of negatives on there. They're listed like this:

 

Closed Accounts AES/NCT 

 

 

 

Account Type: 
  Installment   
Account Number: 
  (OMITTED)  
Payment Responsibility: 
   Individual    
Date Opened: 
   11/2004    
Balance Date: 
   11/2006    
Balance Amount: 
   $0    
Monthly Payment: 
        
High/Limit: 
   $9,392    
Account Status: 
   Late Over 120 Days    
Past Due Amount: 
  $0    
Comments: 
   TRANSFERRED TO RECOVERY LAST REPORTED DELINQUENCIES: 10/2006=I5,09/2006=I5,08/2006=I5     

 

_______________________________________________________________________________________

 

CHARTER ONE BANK, FSB
 

 

 
Account Type: 
Installment     
Account Number: 
(OMITTED)    
Payment Responsibility: 
Undesignated       
Date Opened: 
08/2007       
Balance Date: 
03/2009       
Balance Amount: 
        
Monthly Payment: 
$0       
High/Limit: 
        
Account Status: 
Collection       
Past Due Amount: 
$0      
Comments: 
COLLECTION ACCOUNT CONTACT MEMBER FOR STATUS STUDENT LOAN

____________________________________________________________________________________________

 

NATIONAL COLLEGIATE TRUST

 

Account Type: 
Installment  Installment  Installment 
Account Number: 
(OMITTED) (OMITTED) (OMITTED)
Payment Responsibility: 
Individual  Individual  Individual 
Date Opened: 
07/2007  07/2007  07/2007 
Balance Date: 
12/2008  12/2008  12/2008 
Balance Amount: 
$0  $0    
Monthly Payment: 
        
High/Limit: 
$10,711  $10,711  $10,711 
Account Status: 
Collection  Late Over 120 Days  Late Over 120 Days 
Past Due Amount: 
$0   $0   $0  
Comments: 
LAST REPORTED DELINQUENCIES: 11/2008=I5,10/2008=I5,09/2008=I5 TRANSFERRED TO RECOVERY CLAIM FILED WITH GOVERNMENT   TRANSFERRED TO RECOVERY LAST REPORTED DELINQUENCIES: 11/2008=I5,10/2008=I5,09/2008=I5   ACCOUNT DELINQUENT 180 DAYS PAST DUE DATE CLAIM FILED BY WITH GOVERNMENT FOR INSURED PORTION OF BALANCE ON LOAN LAST REPORTED DELINQUENCIES: 12/2008=I ,11/2008=I TRANSFERRED TO RECOVERY LAST PAID: 12/2008  


 

Also, which is the date that it will be deleted 7 years after? Date opened or balance date?

 

This loan is from somewhere around 2005-06

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I settled with agency (Richard Boudreau) for half the amount as they agreed to post it as Paid in Full and I really wanted to get this in my rear-view. They sent me a letter saying that they would report it to the owner so I sent the cashier's check certified mail. However, this was over a month ago and I have yet to see a change in my CR. I also have not received the paid letter from the collector as I was promised. Any advice as to what I should do? I am really ignorant to all of this stuff.

 

Also, any idea how to get the multiple negative tradelines removed? Balance Date: 

   11/2006    
 
   TRANSFERRED TO RECOVERY LAST REPORTED DELINQUENCIES: 10/2006=I5,09/2006=I5,08/2006=I5     

 

_______________________________________________________________________________________

 

 

This loan is from somewhere around 2005-06

Mike,

 

I'm going to assume you have EVERYTHING they promised you IN WRITING. Otherwise, it never happened, sorry.

Doesn't it sound fishy to you that you could pay HALF and they would post that it was PAID IN FULL... there's your first clue that they might be lying to get your $.

 

They're going to 'report it to the owner'? And then what, it's still on your credit report.

 

You see my friend, you have to negotiate *exactly* how it's going to be reported BEFORE you part with your money.

And it ALL has to be in writing beforehand to make sure you can nail them if they go back on their word, sell the debt onwards, etc.

 

This may not be the case here, but I'm guessing you're going to sweat it out until the other shoe drops.

 

Good Luck...  -RD

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Hi I am in a similar situation and Am looking to settle. Can you give me an update about your situation, and what settlement offer did you offer it for. And have they sent you an validation letter for your payoff?

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