1,712,876
Support Senator Elizabeth Warren in her quest to correct this issue.
-
Mary Yonkers
Erie, PA
-
Ron and Alexandra Seigel
Carpinteria, CA
6,425,063
write a letter to the credit agency to dispute the issue.
-
Bob Crane
Stevens Point, WI
-
Eric Kodner
La Pointe, WI
1,157,791
If it is a credit bureau issue, contact the credit bureau.
-
Eric Kodner
La Pointe, WI
3,988,013
Credit scoring is very complex. Paying off a loan doesn't automatically give a huge bump in scores.
69,794
How long ago did they pay off the student loans? I know it takes a short time, maybe a few weeks for credit reports to change. I can't see student loans affecting credit scores that bad unless they were delinquent. Yes, student loans are a debt, but I don't believe they are BAD debt like credit cards. It will affect their debt to income ratio and will affect their total loan amount. Sounds like, if their credit is so low to get a loan, that something else is probably affecting it. Their lender should be able to guide them to services to help repair their credit score.
4,584,521
823,679
Send a letter with proof of payment to the credit agency and ask them to delete it or add the explanation to the account.
3,986,308
They need to deal with the credit reporting agency. It has to be fixed or the client may be dead in the water
1,506,973
1,466,257
5,583,328
1,525,616
I leave that up to the mortgage loan officer, it is not my field of expertise.
1,625,253
I heard that 25% (!!!) or credit reports have significant mistakes affecting our abilities to borrow money.
Some of my lenders, would recommend to attach a letter explaining the situation and a proof in your case that a loan was paid off.
4,800,132
5,773,261
Jack,
It seems everyone has given a great answer, and a thank you Joe Pryor for letting us know that Elizabeth Warren is trying to correct this issue. A
1,242,204
Get a credit repair pro. I made the mistake paying off my NDEA first two years after school. I found out I was expamted to pay it back because of my profession.
2,707,721
If the lender isn't working on correcthing this...Contact the credit agency that is in error, there are rules governing their reporting. It's a pain, but jump over the first person that answers the phone and speak to a manager.
3,350,599
That is a lender question. We have many GREAT lenders here in the AR community ... and they have all written lots of blog posts about this. Mr. Google at your service?
2,785,466
When dealing with forces that employ the golden rule i.e. I have the gold and I rule...it is tough to navigate but doable if one finds that passageway.
5,063,230
Can they request a correction and provide appropriate documentation? Does the lender have any ideas?
582,106
3,071,589