In March or April of 2006, I completed a rehabiltation on a defaulted student loan. As promised all derogatory information was deleted (I did have to do a little “Higher Education Act” arm-twisting with Nelnet before I convinced them they had to delete!) My loan was bought by ACS/Suntrust immediately following the rehab. All subsequent payments to ACS/Suntrust were made on time.
In May of 2007 I obtained a loan to pay off all my debt including this student loan account. I received a paid in full letter from ACS/Suntrust a week or so later.
Imagine my surprise when in June 2007 I checked my credit reports and found that ACS had reported this as a charge-off/claim filed with the government/derogatory account!
I disputed with the credit bureaus and they came back as “verified-no change.”
My problem is that ACS/Suntrust still has this account listed as a charge off as of Nov. 2007!!! It also seems that the “charge-off” date keeps moving forward month by month??
I contacted the Ombudsman from the U.S. Dept. of Education who informed me that ACS/Suntrust admitted to incorrectly reporting this account and a promise was made to fix their error. The problem is the account is still listed as Derogatory/charge-off/Claim filed with the government as of Nov. 2007!!! I got ACS to send me a copy of the e-Oscar report but it is coded and I do not know any of these codes??
This account has been paid in full with no lates for almost 6 months but ACS is still listing it as a charge-off.
I have worked very hard to clean up my credit. This item I am sure is really dragging down my score. I have almost perfect credit in the past two years except for this account!! I have been in touch with ACS/Suntrust numerous times with MANY promises to fix their error but still no luck.