FCRA Case

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.

Any ideas??

Robin

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Hi Robin,

Sounds like a case for FCRA consumer lawyer David Szwak at MyFairCredit.com.  You can complete the ‘free case review contact’ on the right side halfway down the main page.

Thanks for the questions and hope this helps.

Paul

This author is not an attorney and this information should not be considered legal advice.  Please consult an attorney for legal advice.