romeo3792005

Creditor tolling SOL and re-aging trade-lines

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I have 12 student loans from sallie mae 6 are GOV. back and are in default, and 6 private signature student loans from sallie mae that don't show up on the  Federal Student Loan Database.

 

 

When I look at the 6 six private loans on my credit report, I see that sallie mae keeps reporting the payment history as  OK for a few months then updates them to late 30 days, 90 days, 120 days, after the 120 mark they start reporting as OK. They have been repeating this cycle since 2005.  

I never made a payment on these loans or have received a deferment or forbearance, and all this time they never defaulted me on these loans, In New york the SOL is 6 years which has pass and the so has the 7 years for the SOL on reporting them.

It seems to me they are tolling the SOL on these loans which would be a violation, and from what I have read after 120 days the law states that are suppose to update those loans to charged off, which they haven't until last week when they now show charged off/transferred I just received a letter from a CA offering to settle these loans at a lower amount I have DV them and waiting for a reply. 

My question is should I start with the credit reporting bureau next then sallie mae or can I do both at the same time.

 

Thanks 

 

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now I'm stuck I see that the OC Sallie mae does not have to validate if I request it, so how do I go about getting any info on these loans I would like to see some receipts saying that I paid, i would like to see a copy of a deferment or forbearance really would like copies of all documents they have from me
Now that they reporting them as charge off's I figure it would even be harder.

~update I received a response from the CA that was handling these account the letter stated that they discontinued collection attempts on these account and have been placed back with the OC and to contact them. I wonder if that can be a open invite to validate with the OC?

Here's what I drafted to send to the CRB's

Dear Experian,

I've just reviewed my credit report and have noticed there are several inaccurate items on my report:

SALLIE MAE - Acct: xxxxx: 
The payment history in 2006 is incorrect as where I have never made a payment on this account and should be listed as pass due.

SALLIE MAE - Acct: xxxxx: 
The payment history in 2006 is incorrect as where I have never made a payment on this account and should be listed as pass due.

SALLIE MAE - Acct: xxxx: 
The payment history in 2006 is incorrect as where I have never made a payment on this account and should be listed as pass due. 

SALLIE MAE - Acct: xxxxx: 
The payment history in 2006 is incorrect as where I have never made a payment on this account and should be listed as pass due.

SALLIE MAE - Acct: xxxx: 
The payment history in 2006 is incorrect as where I have never made a payment on this account and should be listed as pass due.

In addition, the FCRA states that all credit older than 7 years should be removed from my report. 
Because of the above accounts are listed incorrectly, the Statute of Limitations have been tolled causing these accounts to re-age on my report longer then they should be.

I have enclosed a copy of my driver's license as proof of identity.

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@romeo3792005 - First of all, there is no SOL on student loans.  However, the loans shouldn't be on your credit report past 7 years.

 

I think your letter is fine.  I would also contact the loan holders and ask them to update the loan notations for you, especially if they're in deferment   

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OHH man... from what I have been reading private loans that aren't back by the government are covered by the 6 year SOL, none of my private loans have ever been touched never paid on them never deferred them anything of the sort i always paid when i could on the federal ones. Thats why when i saw the shady reporting on the private loans I figured they were trying to keep them with in the SOL.

 

Thanks for clearing that up, and thanks for replying quickly.

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Irf you are still in school, your school updates all your student loans every new semester, they file an in school deferment, that is why your credit reports go back to reporting OK.

 

If you are still in school your credit report should reflect that by reporting a "Loan deferred" statement.

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I haven't been in school since 2005, funny thing is a day or so ago i received a letter from the CA that I DV'd. It stated that they are no longer trying to collect on these loans and for me to contact Sallie Mae for more info, yesterday my credit report jumped 30 points and these loans i been talking about switched from charged off/transferred to closed.

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