Rehabilitating Loan. CBR report question
Date: Tue, 04/22/2008 - 18:26
Rehabilitating Loan. CBR report question
Since my husband switched jobs were were able to stop the garnishment we had been receiving. We are able to rehabilitate the loan now with 8 more payments. That's fine, no problem.
My question is though if the OC has reported the account charged off is the company that guarantees the loan also able to report it as collections placing a double whammy?
My question is though if the OC has reported the account charged off is the company that guarantees the loan also able to report it as collections placing a double whammy?
Yup. Student loans will hit you twice legally with both the OC
Yup. Student loans will hit you twice legally with both the OC reporting the claim filed and the guarantor reporting the claim paid.
Keep in mind after the rehab only the guarantor's tradeline will reflect positive. Your OC is under no obligation to change their tradeline.
Even if the guarantor brought in a new creditor for the account
Even if the guarantor brought in a new creditor for the account it original would still be negative? Ouch!