I just checked my 3 bureau credit reports to find my student loan servicer Great Lakes has inserted a remark of: Account Dispute Resolved; Consumer Disagrees on the loan for each bureau. This is totally untrue in every way. I don’t dispute the debt and I don’t disagree. I didnt even know what it was from but then I remembered about a month ago I got an alert on my Experian Credit tracker that my FICO score dropped 15 points mid month. I logged on to discover that my student loan balance reversed to the previous month deleting my large $ 600 payment with it and thus dropping my credit score. I will also mention that it’s only a $ 4,750 loan and is still in in-school deferment until 2018 with no lates or anything of course. Anyway, I waited a few days and when the score and report didn’t self-correct I called Experian to ask what was going on. I informed them that my balance and update reverted back to the previous month. The lady said: “Huh, yeah, that’s strange. What is the balance it’s supposed to be?” So I told her the balance it was just a few days prior before the reversal and she said she was going to put it in the system to be updated.
I have perfect credit and have never disputed anything in my life. While I thought I was making a complaint to Experian itself I guess she put it in as a dispute with my loan servicer. A few days later everything went back to normal and I forgot all about it.
Now a month later I am seeing this remark placed in every credit bureau’s profile even though I only called Experian to complain since it was only them who had the glitch. I understand this can have devistating effects on trying to get a mortgage and such in the future. I do have the credit report PDF print outs from the day before the reversal and the day it was reversed as well as a few days later when it rebounded as proof that I was making a valid complaint. I’m only possibly guilty of being impatient and not giving it a few more weeks to work out but I was entirely ignorant of this effect.
How can I correct this? Who do I call?- the loan servicer or the credit bureaus? It has to be the loan servicer who is putting this stuff in the remarks since it’s hitting all bureaus that I never disputed with. If I even get the bureaus to delete it wouldn’t it just come right back the next month the loan servicer updates?
Please help guys. I actually managed to pay all $ 4,750 of the loan except for $ 1,000 off in the 9 months since it was disbursed. I’m trying to do the right thing and be responsible.
All advice is much appreciated! Thanks!