Advice about negative mark

[kitkat]

I'm in the process of disputing the negative marks on DH's credit. I'm not sure what to do in this situation:

DH's student loans are not consolidated, so technically he has 11 small loans out from the same company. He can't consolidate because he never graduated. Well, in 2007 when he deployed he was 30 days late on his student loan payment. They reported this as being 30 days late on 11 accounts. Which I guess is sort of true, but they only send 1 bill. Do you think I'd be able to argue that point? Since he's only sent 1 bill, with 1 large payment, that they should only report the negative mark 1 time?

[guynavywife]

First, look into whether the Servicemembers civil relief act should have suspended required payments at that time. Do a google search for it, and go to legal on base.

[MotoMoto]

Originally Posted by kitkat I'm in the process of disputing the negative marks on DH's credit. I'm not sure what to do in this situation: DH's student loans are not consolidated, so technically he has 11 small loans out from the same company. He can't consolidate because he never graduated. Well, in 2007 when he deployed he was 30 days late on his student loan payment. They reported this as being 30 days late on 11 accounts. Which I guess is sort of true, but they only send 1 bill. Do you think I'd be able to argue that point? Since he's only sent 1 bill, with 1 large payment, that they should only report the negative mark 1 time?

He can consolidate. To my understanding the moment the loans go into repaymennt he can consolidate.

I use SallieMae for my loan. They consolidated them for me and it was quick and easy.

But in response to the question...

No, it's 11 marks because it's 11 separate accounts.

[kitkat]

Originally Posted by guynavywife First, look into whether the Servicemembers civil relief act should have suspended required payments at that time. Do a google search for it, and go to legal on base.

MIL and DH both called to get the loan into deferment or forebadence while he was deployed, and they were told they couldn't. It was against SallieMae's policy.

Originally Posted by MotoMoto He can consolidate. To my understanding the moment the loans go into repaymennt he can consolidate. I use SallieMae for my loan. They consolidated them for me and it was quick and easy. But in response to the question... No, it's 11 marks because it's 11 separate accounts.

His loans are with SallieMae too. MIL and DH tried in the past to consolidate them, and were told he couldn't because he didn't graduate.

[gunsgirl]

you maybe out of luck- the best thing to do is keep paying the monthly amount- the farather between that one late payment and the current payment the better it will look.

so if the late payment was made in aug of 2007 and he has not missed a payment since- do not worry about it- it is not going to change the FICO score enough to warrant the trouble it will take to try to get it fixed.

the SCRA does not generally defer loan PAYMENTS but may be able to get a lower interest rate - even on things like his car payment, and credit cards, this will help free up some cash to make a little bit bigger payment on those student loans.

[mraynee88]

Originally Posted by kitkat MIL and DH both called to get the loan into deferment or forebadence while he was deployed, and they were told they couldn't. It was against SallieMae's policy.

You should call legal and see what they say.

[kitkat]

Originally Posted by gunsgirl you maybe out of luck- the best thing to do is keep paying the monthly amount- the farather between that one late payment and the current payment the better it will look. so if the late payment was made in aug of 2007 and he has not missed a payment since- do not worry about it- it is not going to change the FICO score enough to warrant the trouble it will take to try to get it fixed. the SCRA does not generally defer loan PAYMENTS but may be able to get a lower interest rate - even on things like his car payment, and credit cards, this will help free up some cash to make a little bit bigger payment on those student loans.

That's good to know! The late payment was Jan. 2007. I never saw DH's credit report until recently and was just shocked when I saw all of them. He's only missed that one time, and it's been a long time. Good to know it's not really worth the hassle.

[MotoMoto]

Originally Posted by kitkat MIL and DH both called to get the loan into deferment or forebadence while he was deployed, and they were told they couldn't. It was against SallieMae's policy. His loans are with SallieMae too. MIL and DH tried in the past to consolidate them, and were told he couldn't because he didn't graduate.

Stink. I hope everything works out.